Until recently, there has been little compelling reason for companies to embed privacy considerations deeply into their larger business strategies. While consumers say they care about privacy, few have placed any real value on protecting their data. Further, while many privacy laws call for severe penalties, it appears that actual fines will be considerably lower and only the worst offenders will be impacted. The costs to fully meet all privacy requirements can also be quite high for most companies.
Do You Care About Privacy as Much as Your Customers Do?
If you don’t protect your users’ data, they’ll find a company who will.
January 28, 2020
Summary.
A 2019 Cisco survey examined the actions, not just attitudes, of consumers with respect to their data privacy. The survey reveals an important new group of people — 32% of respondents — the authors call “privacy actives.” This group says they care about privacy, are willing to act, and have done so by switching companies or providers over data or data sharing policies. By understanding this unique group of individuals, companies can shape their own data and customer privacy practices and better engage, retain, and work with these customers.
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Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Digital Intelligence . Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Excel in a world that's being continually transformed by technology.