• Home
  • Business
  • Finance
  • Gadgets
  • Mobiles
  • World News
  • Tech

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Whenever enrolled in a full time income-driven plan, borrowers are required to spend 10%-15% from the amount

January 28, 2023

Bumble is famous for its friendly environment as well as are a good safe place for females to obtain friends

January 28, 2023

Ran into the and you will had a great $300 mortgage

January 27, 2023
Facebook Twitter Instagram
  • Home
  • Business

    Why Consumer Privacy Concerns Can Be Good for Business

    September 11, 2022

    TikTok Guide For Business

    September 11, 2022

    Grandview businesses can apply for new round of pandemic assistance | Lower Valley

    September 11, 2022

    Business briefs | Cal Poly one of ‘Best in the West’; senior center receives grant – Times-Standard

    September 11, 2022

    On the banks of Connecticut River, new business begins refurbishing U.S. Coast Guard boats

    September 11, 2022
  • Finance

    Stimulus Payments, Back-to-School Budget, Self-Employed deductions, Gas Prices…

    September 11, 2022

    Finance Ministry: Need strategic approach to market Malaysia’s R&D results

    September 11, 2022

    Finance Ministry mulls changes in insurance laws; considers easing entry level capital requirement 

    September 11, 2022

    Retired Marlborough CFO moves from finance to crime novelist

    September 11, 2022

    Ethical Finance Global 2022 Summit Produces Prospectus as Career Bridge Into Ethical Fintech

    September 11, 2022
  • Gadgets

    Deals Reminder: Complete 2023 Tech Cert

    September 14, 2022

    Mystery behind the Big Bang theory revealed! And some tech and gadgets that caught it

    September 14, 2022

    Best AI-Powered Gadgets

    September 14, 2022

    E-repair market could be worth $20 bn

    September 13, 2022

    Love your Dash waffle maker purchase from TikTok? More Dash kitchen gadgets are on sale at Amazon.

    September 13, 2022
  • Mobiles

    How to avoid becoming a victim of malicious mobile apps

    September 11, 2022

    Munchkin Digital Coming to Steam, Mobile Devices This Fall

    September 11, 2022

    T-Mobile: Here Comes the Monster Buyback

    September 11, 2022

    Apartments planned for Rangeline Crossing in Mobile

    September 11, 2022

    Sales, rent increases hit Colorado mobile home parks as new laws kick in

    September 11, 2022
  • World News

    West Virginia legislators approve abortion ban with few exceptions

    September 13, 2022

    FBI agent at Sandy Hook breaks down at trial of conspiracy theorist Alex Jones

    September 13, 2022

    Stopping ‘bully’ Alex Jones will be the most important work you do, jury told

    September 13, 2022

    Arrests of UK anti-royal protesters spur free speech debate | World News

    September 13, 2022

    Lights out early for Eiffel Tower as Paris saves energy | World News

    September 13, 2022
  • Tech

    OTO logis-tech wins second edition of KPMG tech innovator competition

    September 11, 2022

    Will Randall make his return against Louisiana Tech?

    September 11, 2022

    Sussex Tech school buses get new security cameras

    September 11, 2022

    Why Is This Tech Growth Stock Down 38% From Its 52-Week High?

    September 11, 2022

    Passkeys, the No-Password Login Tech, Come to iOS 16 on Monday

    September 11, 2022
Facebook Twitter Instagram
eJourno.neteJourno.net
  • Home
  • Business

    Why Consumer Privacy Concerns Can Be Good for Business

    September 11, 2022

    TikTok Guide For Business

    September 11, 2022

    Grandview businesses can apply for new round of pandemic assistance | Lower Valley

    September 11, 2022

    Business briefs | Cal Poly one of ‘Best in the West’; senior center receives grant – Times-Standard

    September 11, 2022

    On the banks of Connecticut River, new business begins refurbishing U.S. Coast Guard boats

    September 11, 2022
  • Finance

    Stimulus Payments, Back-to-School Budget, Self-Employed deductions, Gas Prices…

    September 11, 2022

    Finance Ministry: Need strategic approach to market Malaysia’s R&D results

    September 11, 2022

    Finance Ministry mulls changes in insurance laws; considers easing entry level capital requirement 

    September 11, 2022

    Retired Marlborough CFO moves from finance to crime novelist

    September 11, 2022

    Ethical Finance Global 2022 Summit Produces Prospectus as Career Bridge Into Ethical Fintech

    September 11, 2022
  • Gadgets

    Deals Reminder: Complete 2023 Tech Cert

    September 14, 2022

    Mystery behind the Big Bang theory revealed! And some tech and gadgets that caught it

    September 14, 2022

    Best AI-Powered Gadgets

    September 14, 2022

    E-repair market could be worth $20 bn

    September 13, 2022

    Love your Dash waffle maker purchase from TikTok? More Dash kitchen gadgets are on sale at Amazon.

    September 13, 2022
  • Mobiles

    How to avoid becoming a victim of malicious mobile apps

    September 11, 2022

    Munchkin Digital Coming to Steam, Mobile Devices This Fall

    September 11, 2022

    T-Mobile: Here Comes the Monster Buyback

    September 11, 2022

    Apartments planned for Rangeline Crossing in Mobile

    September 11, 2022

    Sales, rent increases hit Colorado mobile home parks as new laws kick in

    September 11, 2022
  • World News

    West Virginia legislators approve abortion ban with few exceptions

    September 13, 2022

    FBI agent at Sandy Hook breaks down at trial of conspiracy theorist Alex Jones

    September 13, 2022

    Stopping ‘bully’ Alex Jones will be the most important work you do, jury told

    September 13, 2022

    Arrests of UK anti-royal protesters spur free speech debate | World News

    September 13, 2022

    Lights out early for Eiffel Tower as Paris saves energy | World News

    September 13, 2022
  • Tech

    OTO logis-tech wins second edition of KPMG tech innovator competition

    September 11, 2022

    Will Randall make his return against Louisiana Tech?

    September 11, 2022

    Sussex Tech school buses get new security cameras

    September 11, 2022

    Why Is This Tech Growth Stock Down 38% From Its 52-Week High?

    September 11, 2022

    Passkeys, the No-Password Login Tech, Come to iOS 16 on Monday

    September 11, 2022
eJourno.neteJourno.net
Home » Why Consumer Privacy Concerns Can Be Good for Business
Business

Why Consumer Privacy Concerns Can Be Good for Business

ejourno.netBy ejourno.netSeptember 11, 2022No Comments6 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Share
Facebook Twitter LinkedIn WhatsApp Pinterest Email


Consumer data privacy has been a hot topic for a while, but with new regulations and changing consumer mindsets, it’s even more critical to address. The question is not whether to continue collecting consumer data, but how best to communicate the advantages of data sharing and reassure consumers that you are using their data safely. Follow these tips to build trust with consumers when it comes to sharing data.

Over the past few years, concerns over consumer privacy – especially regarding data sharing – have grown steadily. This has resulted in regulations, such as the EU’s General Data Protection Regulation and the California Consumer Privacy Act, and has led most businesses to recognize the need to better protect consumer data. Apple now uses its privacy efforts as a selling point, and even Google has made moves toward greater data privacy, working to make third-party cookies obsolete by 2024.

All of this can lead organizations to conclude that consumers no longer want to share their information. However, this is far from the case. circle 40% of people have said they are willing to share their personal data as long as they know who is using the information and what it is being used for. This percentage increases up to 80% when consumers receive clear benefits from data sharing.

The question for businesses, then, is not whether they should collect consumer information, but rather how best to communicate the benefits of data sharing and assure users that their data is kept secure. It’s not just about being transparent with consumers, it’s also about adapting new processes to ensure you keep the information they share secure and only ask for information that provides real value to consumers. With the right approach, it’s possible for companies to deliver the personalized experiences consumers want, while simultaneously building trust with users when it comes to data privacy.

Why data sharing done right is profitable

Data is essential to delivering the highly personalized experiences that consumers not only want, but expect when engaging with brands. But that doesn’t mean all data collection methods are created equal.

One of the most common ways organizations collect data is through third party cookies. For brands, these cookies have long been seen as the keys to delivering personalized advertising and better digital experiences. For users, however, they are often seen as invasions of privacy, monitoring their behavior and offering few advantages in return.

Actually, the reality is somewhere in between. Third-party cookies are useful for collecting data from external channels and provide several benefits to consumers. However, they also lack the transparency that consumers want and are rarely as accurate as first-party data. As attitudes around data privacy continue to change, this is the perfect time to reevaluate the methods you use to collect consumer information.

Although first-party data won’t give you information from external sources, it makes up for it with real-time contextual information that’s easier to organize and use to develop better, personalized experiences for consumers.

This can help you go beyond simple form filling and saving preferences to deliver digital experiences that truly meet consumers’ needs and wants. And, because there’s no middleman between you and the consumer, it’s easier to communicate exactly what’s shared, how it’s protected, and how consumers benefit.

Switching from third-party cookies to first-party data will not solve every data privacy problem. But it’s the first step on the road to a more robust, consumer-approved data sharing strategy.

Here are three steps to building better customer data relationships:

  1. Be transparent and reliable.
    Transparency is about open and clear communication. By being transparent, you want to educate consumers about why you’re collecting their data and then tell them how you plan to use it—in a way that’s easy to understand. For example, using cookie banners is a simple way to explain the terms of data use and how the consumer will benefit. Trust is a byproduct of being transparent.

    When it comes to building trust, the simplest and most effective strategy is to be honest and direct. But it’s more about assuring consumers that their data is safe and that you recognize its value. Build trust by being vocal about how seriously you take data protection and giving users control over their data. Remember: this doesn’t mean burying communication in a lengthy privacy policy. Make sure your data policy is clearly visible and easy to understand for the non-data scientist crowd.

  2. Encourage sharing.
    The only way that data sharing can work in the long term is if both parties mutually benefit. You can stimulate sharing by focusing on personalization. Brands can deliver real value by delivering highly relevant and meaningful personalized digital experiences.

    You can do this through dynamic content or relevant product recommendations. Provide tangible value to consumers who sign up for your services or agree to share their personal information with you. You can also use predictive personalization, which will show your customers that you really listen to them and can anticipate their needs.

  3. Keep customer data private and secure.
    Data is a privilege, not a right. Do not share data with third parties without express permission – and even then, you should do so sparingly. Build a privacy-first mindset and approach with your customers.

    You can do this through partnerships. By partnering with a privacy company, you can ensure that the collection and storage of your customers’ data is handled securely and with the right technology. This will also ensure that it is done in a privacy compliant manner. By taking data privacy seriously, you will build loyalty and improve your reputation among consumers.

of growing data privacy concerns should act as a wake-up call for businesses. This doesn’t mean you should stop using customer information altogether, but use it in better ways. By being transparent and providing real value, you can take your data-sharing efforts to a whole new level—and do so with consumers happily on your side.


Written by Diane Keng.
have you read
The world’s largest economies, 2022.
Ranking of International Financial Centers, 2022.
These are the countries with the highest average salaries, 2022.
How to get verified on Instagram.
The Heart of Napoleon by Leo Bottary.
Addressing mental health in the workplace: How CEOs can take a lead from Avihai Sodri.
CEO Spotlight: Chris Tsounis – Co-Founder and Managing Partner of JNBC.

Follow the latest news live on CEOWORLD magazine and get new updates from the United States and around the world. The views expressed are those of the author and are not necessarily those of CEOWORLD magazine.

Follow CEOWORLD magazine headlines at: Google News, LinkedIn, I tweetand Facebook.
Thank you for supporting our journalism. Subscribe here.

For media inquiries, please contact: info@ceoworld.biz





Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
ejourno.net
  • Website

Related Posts

TikTok Guide For Business

September 11, 2022

Grandview businesses can apply for new round of pandemic assistance | Lower Valley

September 11, 2022

Business briefs | Cal Poly one of ‘Best in the West’; senior center receives grant – Times-Standard

September 11, 2022

On the banks of Connecticut River, new business begins refurbishing U.S. Coast Guard boats

September 11, 2022

Here’s how Cape Cod businesses can use social media, online tools

September 11, 2022

Flathead Business Watercooler | Daily Inter Lake

September 11, 2022
Add A Comment

Leave A Reply Cancel Reply

Editors Picks

Oculus Quest X Headset: Discover a Shining New Star

January 5, 2021

iPhone Pro 13 Rumored to Feature 1 TB of Storage

January 5, 2021

Fujifilm’s 102-Megapixel Camera is the Size of a Typical DSLR

January 5, 2021
Top Reviews
9.1

Review: Mi 10 Mobile with Qualcomm Snapdragon 870 Mobile Platform

By ejourno.net
8.9

Comparison of Mobile Phone Providers: 4G Connectivity & Speed

By ejourno.net
8.9

Which LED Lights for Nail Salon Safe? Comparison of Major Brands

By ejourno.net
Advertisement
About Us
About Us

Your source for the current news, business, tech, lifestyle and more. This site is crafted specifically to exhibit news from organic sources in one site. Visit us now and never be undated unaware!.

Facebook
Our Picks

5 Things the Canon EOS R1 Needs to Compete With the Sony A1

January 4, 2021

VR – How the Gaming Industry Adapts to a New Reality

January 4, 2021

Hyundai’s Value Surges Amid Reports of Apple Electric Car Deal

January 4, 2021
New Comments
    Facebook Twitter Instagram Pinterest
    • Home
    • About us
    • Contact us
    • DMCA
    • Privacy Policy
    © 2023 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.