81%

81% of consumers said they need to trust a brand to buy from them.

(Source: 2019 Edelman Trust Barometer Special Report)

75%

75% of customers won’t even consider buying a product if they have doubts the company will keep their personal data safe and private.

(Souce: IBM cybersecurity study)

56%

56% of consumers don’t trust brands to protect their data.

(Source: Acquia)

The Stakes Are High

Today’s consumers demand personalization, and being able to understand, recognize, incentivize, reward, and convert customers requires timely, relevant data. And, while consumers want convenience, relevance, and unique value—they’re in the drivers’ seat when it comes to what data they share and with whom. These decisions will largely be based on which companies they trust. Data security and privacy are key elements of building consumer trust.

Customers are looking for you to:

img4 img5
Make their security and privacy top priorities
Be transparent
Earn and keep their trust
Be good stewards of their data
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“Data privacy practices should work seamlessly to enhance the individual experience. Organizations that get privacy right improve trust, operational efficiency, and top-line and bottom-line results. In fact, 35% of organizations surveyed by Cisco reported benefits of at least 2X their investments.”

Dyann Heward Mills, Founder and Data Protection Officer, HewardMills

The Pressure Is On

Harvard Business Review reports three pressures surrounding personal data that are amping up the urgency for organizations to put effective security and data privacy measures in place.

Consumer Mistrust

Consumer Mistrust

Today’s consumers are increasingly aware their data has been bought, sold, and used without their content and are actively refusing to put up with it. Case in point, daily active users on Facebook and Twitter in North America have declined.

Government Action

Government Action

Federal lawmakers are moving to curtail the power of big tech. In 2021 alone, state legislatures proposed or passed at least 27 online privacy bills to regulate data markets and protect personal digital rights. Lawmakers across the globe have implemented data privacy legislation and companies are struggling to keep up with compliance.

Market Competition

Market Competition

Brands are using their good security and data privacy practices as a competitive advantage. If you’re not up to par, consumers’ will likely move on to a competitor who makes security and privacy a top priority. Apple’s iPhone upgrade lets users shut down data harvesters’ ability to track them across their many apps. Device manufacturers and app developers now use privacy features to stand out in the market.

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