Companies that make the most of their data uncover new efficiencies and find opportunities to innovate and personalize products and services. But with high-profile data breaches still a common occurrence, many businesses are emphasizing data protection as a core part of their brand image and strategy.
What is it?
Security-forward businesses place significant emphasis on their data privacy and protection efforts, making their approach to security a core part of their brand image, and a key competitive differentiator.
Today, there’s a major tension between the demand for smart services and concerns about data protection. Customers want intelligent, connected, and personalized services and experiences. But, they don’t want to expose their data to any risk. security-forward businesses acknowledge that concern, and do all they can to provide the services customers want, while keeping their data and privacy safe.
That helps to improve satisfaction, win trust, and encourage long-term loyalty among increasingly security-aware customers.
What’s in for you?
People want to know that you’re using their data responsibly. If they get the impression that you’re breaching their trust, or neglecting their privacy rights, they’ll take their business elsewhere.
By taking a transparent and ethical approach to data privacy and protection — including how you capture, store, and use customer data — you can build stronger customer and partner relationships. Adhering to regulations and keeping data secure also helps you mitigate the risk of financial loss and reputational damage.
You can also increase engagement and trust by introducing flexible data privacy features to your products and services to give users greater control over how you use their data.
What are the trade offs?
Depending on your existing approach to data privacy and protection, you may find that significant changes are needed before you publicly promote your commitment to security. It’s not enough to simply say you’re committed to security, you must be ready to demonstrate that commitment — and that takes work.
What’s more, there’s a risk that as more businesses choose to focus their PR strategy on security, the more likely their sincerity will be brought into question. It’s important not to overplay it, as you may come across as disingenuous or simply jumping on the bandwagon.