eCommerce businesses continuously collect customer data. Some of this data is critical to business operations, and some is personal customer data. Either way, this comes with the responsibility to keep customer data safe and secure in the case of a disaster.
The results of not creating a complete data privacy plan can be devastating to your business. Legal action, including government fines and investigations, can be extremely costly, and damaging to your reputation.
It also is important to customers that their data is secure. In fact, 92% of Canadians expressed some level of concern about their digital privacy, and 37% stated they’re extremely concerned.
Keep policies up-to-date
In fact, 63% of customers say most companies aren’t transparent with how their data is being used.
This is a great opportunity to showcase the procedures put in place to protect their data and gain their trust.
Additionally, the financial costs to your business are devastating if a proper data security policy is not in place. GDPR violation fines up to €20 million can be applied to companies and individuals by the EU - yikes.
We recommend updating this document at least once a year. But do not wait to make changes as government regulations and your third party apps evolve. By reviewing this document to ensure all data usage is disclosed, there will be peace of mind knowing you’re compliant.
A part of avoiding a data privacy disaster is giving your customers a way to access, update, or delete their data. A unsubscribe link in your marketing emails isn’t sufficient, and there are many other ways to empower your customers to take ownership over their data.
For instance, customers are legally entitled to request a copy of their data, delete all of their data, and unsubscribe from marketing emails. Making this process easy and seamless is a great opportunity to build trust, and show your customers that you truly care about their data security needs. This can have a positive compounding effect on your business, as a survey of 1,000 customers revealed that 65% of respondents said that feeling like a brand cares about them creates an emotional connection with that brand.
Complete a data audit
Does successful implementation require additional employee training?
Don’t wait for a disaster to occur
By making the necessary updates to the policy at least once a year, mitigates the risk of a data privacy disaster, complies with legal requirements, and gives you peace of mind about the security of your customer data.