by Apr 2, 2021|
With privacy risks and implications in the spotlight, the time is ripe to not simply comply with privacy laws but to go above and beyond what is required, leveraging privacy practices as part of your brand building strategy. Strong privacy practices can become part of your brand management toolkit by applying a privacy lens to your consumer experience programs and marketing activities. TrustArc’s inaugural Global Privacy Benchmarks Survey in 2020 found that 81% of respondents view privacy as a clear differentiator for their company. (1)
There is mounting evidence that companies that incorporate privacy into their marketing strategy have a competitive advantage. Addressing privacy publicly, transparently, and as an explicit element of your brand helps build trust with consumers, making them more willing to share accurate and complete data with your organization. According to Forrester, privacy management impacts consumer engagement, brand reputation, and, ultimately, revenues as value-based consumers increasingly interact with companies they deem ethical.