Consumer trust has become the new battleground for digital success. As the pandemic changed the way businesses function and forced them to reroute their marketing direction, consumers’ perception of data and privacy has also changed. People are now looking for different ways to be reached and engaged, expecting a different kind of consumer experience amid all the disruption that’s currently happening – and they are expecting this to be secure.
The business of trust lies in being cyber secure if you are to grow and scale
According to Cognizant, 91% of consumers are “concerned” or “very concerned” about their data privacy online. To win the trust of those customers (and their business), SaaS companies will have to redefine how they approach not only their data privacy and security but their company culture, ethics, products, and more.
Data privacy: The seedbed of consumer trust
At last year’s Ascent Conference, Christi Olson, Microsoft’s head of evangelism for search and advertising, shared five key takeaways from the global report. The report was conducted with three other marketing executives, entitled “In Brands We Trust: The Intersection of Privacy and Trust in the Age of the Empowered Consumer.” At this year’s Annual Ascent conference, we take a step further and focus on the cybersecurity best practices associated with protecting your consumers.
How do you establish a reputation for protecting customer privacy?
To gain customer trust and, in turn, a competitive edge, your organization first must establish a reputation for protecting customer data and privacy. But it’s not just about building a more security-driven culture and product. Companies need to win customer trust by positioning themselves as leaders in their space on privacy and security. Here are a few key steps to follow:
1. Communication: Be transparent with your customer in how you are keeping their information secure. Educate them on how to use your products and services with cybersecurity best practices. We love the examples set by Apple and Mozilla as two brands that have become data privacy advocates and thought-leaders. Check out how Apple’s SSO uses highly secure authentication and how the Mozilla Manifesto treats ‘Individuals’ security and privacy on the internet as fundamental, not optional.
2. Monitoring: It is imperative to know what customer data you hold and where it is stored. Furthermore, monitoring customer data for potential threats is essential in staying ahead of potential cyberattacks
3. Testing: Ensure you have a testing program set up to check various programs. Testing can highlight issues and weaknesses, allowing you to make changes and corrections before an attack happens
4. Compliance: Does your cybersecurity plan comply with changing regulations, especially those impacted by new consumer privacy acts? Show your customers that you are working to protect their data. Plus, staying compliant also helps you to avoid hefty fines.
5. Don’t forget to update: The most successful companies regularly evaluate their approach to security, consistently protecting consumer data. Remembering to update your software and devices will keep you one step ahead of potential threats and allow you to adapt appropriately.
Combining marketing, privacy & cybersecurity for a new playing field
Customer privacy, data protection, and cybersecurity deal with protecting sensitive data from various digital threats. That’s why they have become interconnected. Rather than having them respond to a breach separately, it makes sense to have one integrated approach. Customer trust is not just a marketing team’s priority – it involves the cybersecurity team, and both need to work together. Anyone in an organization can cause a data breach; responsible user behavior should be an essential part of the corporate cybersecurity culture.
Privacy and trust are closely related terms that become the solid foundation of long-term partnerships with consumers when adequately built and fostered. Adapt your daily workflow by combining cybersecurity and data protection.
Watch last year’s Ascent Annual speaker, Christi Olson’s full session below:
[su_youtube url=”https://www.youtube.com/embed/11MF7MDL1-Q” mute=”yes” title=”Privacy and Trust”]
Don’t forget to register for this year’s Annual Conference and hear from top cybersecurity experts on adapting best practices for SaaS.
Photography by Jeremy Zero via Unsplash.