Having a long-term data protection strategy is important. Not only will it –very likely – give you an edge against competition and increase shareholder value. It will also improve the relationships with your customers by helping to build trust and respect.
In this relatively new digital era, the development when it comes to how businesses process data have been so fast. As consumers, many of us have found it difficult to keep up with how our data is being used. True, most businesses need to process data to stay relevant – but they also need to consider the business impact on how they handle data.
Numerous research shows that people care about and want to understand how their data is being used: 79% say they would leave a brand if their personal data is used without their knowledge. This shows that in order to build and maintain good relationships with their customers, businesses need to continue to process data – but in a responsible manner.
As a company, the currency you have to attract and retain customers is respect, transparency and compliance. Hence, instead of viewing GDPR as a problem, companies need to view it as a business enabler and a builder of trust and respect.
For more tips on how to create a long-term data protection strategy and how it will help you future proof your business, watch our free webinar “5 Steps to a Successful Data Protection Strategy”.