There are clear benefits for taking extra steps to demonstrate your company's commitment to data privacy by using measures like data privacy scores, external audits and reviews, and empowering consumers to make their own choices for their own data.
Consumer trust is at an all-time low and data privacy is becoming a core expectation among 89% of consumers. This demands that businesses reevaluate how they treat their customers’ data to ensure they prioritise privacy-focused practices and technology to keep data safe online.
In the US, the uptick in fraud has decreased consumer trust in brands and the digital services they use. 36% of US consumers have experienced a combined share of online fraud and personal online breaches, and only 33% of consumers saying they can trust the digital services they use.
With consumer awareness of privacy at an all time high, there is not only regulatory risk, but also reputational and brand risk for those CMOs who drop the ball – an increasingly likely occurrence as the changes to the familiar status quo mount.
Survey makes clear that privacy and data transparency continues to be a primary concern for consumer trust. 81% of the respondents said that the way a company treats personal data is a reflection of its attitude toward and level of respect for its customers.
Business leaders around the world are reconfiguring their strategies to prioritize data protection and management. As the world becomes increasingly digitally connected, dependence on cyber safety and consumer trust only becomes more important. Technology continues to develop in complexity, as do our methods to mediate it, but it’s imperative that we don’t forget the human side of risk, too.
Poor corporate data responsibility hurts consumer trust, preventing users from sharing data because of privacy and safety concerns as organizations stepped up data collection.
Facebook with its fair share of data security scandals and the government’s past of secretly monitoring of citizens’ communication. Who does US citizens trust more with their data?
A new study reveals that the more humanlike a virtual assistant appears to be, the more consumer trust is placed in the device, which raises fresh concerns around Big Tech and data protection.