Trust sells: If online users don't defend their privacy themselves, companies should
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In today's digital world, passing on your personal data seems like a necessary evil. It's nearly impossible to book a dinner, create a new account, send flowers, or even pay a bill without entering a phone number, signing up for a newsletter, or accepting cookies from a website.
As our daily lives become more virtual, the demand to offer personal information in exchange for daily necessities or conveniences becomes inevitable. This leads users to shout from the rooftops about the importance of privacy and data protection. But users need help.
To do this, we need to consider privacy as the empty state, the default. It's not something to gain, it's something to lose. Think of it this way: When you meet a new friend, you gradually provide information about yourself as you build a relationship with that person. Based on varying degrees of familiarity and trust, you choose over time what to share about yourself, peeling the onion of your own identity one conversation or fun fact at a time.
> Peeling back the layers of digital identityOur digital privacy is much the same. Every action, transaction, search and bookmark removes layers of our digital identity, one click at a time. What is different, however, is this decision - we do not always control who or what we share this information with. Right now, we're largely at the mercy of the apps we choose to interact with.
EventMetaBeat 2022
MetaBeat will bring together thought leaders to advise on how metaverse technology will transform the way all industries communicate and do business on October 4 in San Francisco, CA.
register hereEven when users have the ability to protect their privacy, they often put themselves at risk. The privacy paradox - a norm among users - is defined as the dichotomy between a person's intentions to protect their privacy online and how they actually behave online, ultimately compromising their privacy. How ironic the consistency with our human desire to have the cake and eat it too. But if users don't guard their own digital privacy, who will? The very companies that depend on our data. And now more than ever, they are encouraged to mobilize.
The evidence is already there: trust sells. Organizations that prioritize privacy and trust are rewarded by users. That's why 90% of companies say they consider privacy a business imperative, with 71% specifically identifying loyalty and trust as their top priority. So how can businesses make money by building trust with users online today?
Transparency in the use of dataUsers want transparency about how their information is used. It's so simple. When organizations take the extra step of including privacy statements or a promise that they will not share information with third parties, it eases the user's mind. Businesses can also address mandatory data regulations on their websites to openly express compliance with those laws. It is this simple reinforcement that can make the user feel more comfortable spending time on a website and, in turn, becoming a paying member of the community.
Consent to use dataIn real life, away from the internet, a company would never follow you around, taking notes on everything you d...
Couldn't attend Transform 2022? Check out all the summit sessions in our on-demand library now! Look here.
In today's digital world, passing on your personal data seems like a necessary evil. It's nearly impossible to book a dinner, create a new account, send flowers, or even pay a bill without entering a phone number, signing up for a newsletter, or accepting cookies from a website.
As our daily lives become more virtual, the demand to offer personal information in exchange for daily necessities or conveniences becomes inevitable. This leads users to shout from the rooftops about the importance of privacy and data protection. But users need help.
To do this, we need to consider privacy as the empty state, the default. It's not something to gain, it's something to lose. Think of it this way: When you meet a new friend, you gradually provide information about yourself as you build a relationship with that person. Based on varying degrees of familiarity and trust, you choose over time what to share about yourself, peeling the onion of your own identity one conversation or fun fact at a time.
> Peeling back the layers of digital identityOur digital privacy is much the same. Every action, transaction, search and bookmark removes layers of our digital identity, one click at a time. What is different, however, is this decision - we do not always control who or what we share this information with. Right now, we're largely at the mercy of the apps we choose to interact with.
EventMetaBeat 2022
MetaBeat will bring together thought leaders to advise on how metaverse technology will transform the way all industries communicate and do business on October 4 in San Francisco, CA.
register hereEven when users have the ability to protect their privacy, they often put themselves at risk. The privacy paradox - a norm among users - is defined as the dichotomy between a person's intentions to protect their privacy online and how they actually behave online, ultimately compromising their privacy. How ironic the consistency with our human desire to have the cake and eat it too. But if users don't guard their own digital privacy, who will? The very companies that depend on our data. And now more than ever, they are encouraged to mobilize.
The evidence is already there: trust sells. Organizations that prioritize privacy and trust are rewarded by users. That's why 90% of companies say they consider privacy a business imperative, with 71% specifically identifying loyalty and trust as their top priority. So how can businesses make money by building trust with users online today?
Transparency in the use of dataUsers want transparency about how their information is used. It's so simple. When organizations take the extra step of including privacy statements or a promise that they will not share information with third parties, it eases the user's mind. Businesses can also address mandatory data regulations on their websites to openly express compliance with those laws. It is this simple reinforcement that can make the user feel more comfortable spending time on a website and, in turn, becoming a paying member of the community.
Consent to use dataIn real life, away from the internet, a company would never follow you around, taking notes on everything you d...
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