The Future Of Privacy: What Businesses Should Be Planning For
"Privacy-forward" is a descriptor that’s easy to toss around. What company doesn’t want to be privacy-forward, after all?
But what does it actually mean for businesses?
Privacy has taken on new dimensions in the past several years. The General Data Protection Regulation and the California Consumer Privacy Act launched frameworks that fundamentally shifted our conversations about privacy. Personal device usage is ubiquitous, as are social media and digital marketing.
But let’s also not overlook Covid-19 in the privacy world. Millions of people in the U.S. alone are working remotely. And with a breakneck news cycle, social distancing and a 43% year-over-year increase in online sales, we’re online more than ever.
As the founder and CEO of a privacy consultancy, I believe this means leaders need to take steps to ensure their teams, consumers and companies are protected. Here's how to get started:
Update protections to include remote work.
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Consider this: Eighty-one percent of respondents to a recent Cisco study said they are working or learning remotely as the result of the pandemic. Of that 81%, well over half (60%) are "moderately concerned" or "very concerned" about privacy protection.
Depending on your industry, there are different security needs to be met, but across the board, make sure you’re considering:
• Device policies, including employees' use of personal devices and device security.
• Privacy and information security training for staff.
• Network access protocols (i.e., VPNs, passwords, etc.).
• Access and storage of sensitive data in a remote work environment.
• Phishing scam awareness.
Remember that practicing data security means addressing privacy. Data security is a core component of privacy, and without it, you’ll be hard-pressed to meet privacy compliance goals.
Remember that third-party risk assessments aren't secondary.
Let’s talk about vendors. Your operations are likely full of them, especially in marketing: email, websites, customer relationship management systems, social media — the list goes on.
But do you know who they are, what they’re doing with your customers’ data and, importantly, how they’re protecting it? Third-party risk assessment can help you answer these questions and avoid a hefty $7.5 million remediation bill. (This is the cost, as per a 2019 Ponemon Institute survey, of an average third-party data breach.)
Third-party risk assessments entail:
• Assessing and tracking your vendor relationships and contracts.
• Tracking data flow from your business to your vendors (and your vendors’ vendors).
• Identifying risk and reducing it.
• Monitoring vendor performance.
• Tracking compliance requirements and metrics.
Third-party risk assessments also help you determine if you and your vendors are aligned in terms of privacy: Do they have the same privacy and risk management values as your company? Do they prioritize security basics as well as using the latest and greatest tools? And will they commit contractually to data protection and privacy protocols?
Offer clarity and transparency to consumers.
In an early 2020 poll by PricewaterhouseCoopers, consumers' level of trust in whether a company can protect their data is declining.
Because of this, think carefully about how you communicate your data collection practices to your customers. This is the easiest route to trust.
• Do your customers understand what their data is used for?
• Do they know how it's stored and who it's shared with? (Are third-party vendors in the picture, and if so, are they compliant with necessary regulations?)
• Notify users about any changes in your policies and practices before they happen.
And it’s not up to users to hunt down this information; it should live in a plainly written privacy policy that is present at all points of collection.
Recognize the impact and responsibility of marketing departments.
When it comes to protecting privacy in marketing, my suggestion is this: In 2021, lead with permission-based marketing. Frankly, privacy compliance and permission-based marketing were pretty much made for each other. It can build trust, and from my perspective, you also have the potential to see a boost in brand recognition, leads and results. (And isn’t that always the case when you ask for permission, rather than beg for forgiveness?)
Another suggestion: Keep your eye on cookie practices. They’re changing.
Consider Apple, which has announced that in 2021, it will require app developers to get opt-in permission before tracking them on their phones. This information, known as the Identifier for Advertisers (or IDFA), is used to track user behavior for advertising. This kind of user opt-in is a big privacy move by Apple and a departure from today’s opt-out advertising approach.
