Intro to Concord
When it comes to data usage and privacy, transparency and control have big impacts upon user engagement and are key requirements when it comes to current and future data privacy regulations.Building a robust privacy program and establishing trust between a business and its users doesn’t have to be challenging. Concord provides an effortless solution to ensure regulatory compliance for businesses and privacy controls for people. The more confidence users have in your business, the higher their engagement.
The need for privacy
Privacy is becoming the main reason consumers decide to engage with a brand, and rightly so. The growing number of data breaches, the selling of personal information, and the overall reckless handling of user data have left consumers expecting more privacy protections and reassurances from brands. People have a very straightforward demand for companies- that their privacy is taken seriously.
Companies have not exactly scored very well when it comes to demonstrating their commitment to user privacy, and it shows. Online behaviors have changed to reflect the ever-increasing lack of trust by people, including higher usage of data/ad-blocking tools, decreased engagement, and an increase in opt-outs and drop-offs. People quite simply won’t interact with a company if there is no element of trust.
47% of consumers are blocking ads.
The rise of privacy laws
Governments around the globe have noticed the clear violations of people’s privacy rights and by enacting numerous regulations, have taken measures to restrict the abuse of personal data and pressure companies to disclose their data collection practices and what they do with the data they have.
As new privacy regulations emerge, like GDPR in the EU and CCPA in California, businesses are now faced with problems beyond merely proving that they care about their customers. The ever-increasing and continually maturing data privacy regulations and requirements around the world are forcing organizations to scramble to comply with evolving demands. The mere number of data protection laws that exist now, and are on the horizon, have businesses struggling to adapt.
By 2023, 65% of the world’s population will have its personal information covered under modern privacy regulations, up from 10% today.
Businesses still need better data
In a market where privacy is a premium, however, trust equals loyalty, and this is the most important business change for audience builders, marketing, and media. Audience demographics have been an important element of effective advertising since the 19th century, but the loss of trust among consumers has made collecting household and personal demographics harder to obtain than ever.
Changing user behavior, higher expectations around data privacy and the creation of data protection laws are having big effects on marketing, advertising, and other data use. Engagement is falling and the data that was easy to get in the past is becoming harder and harder to come by and more costly to use effectively.
As data requirements continue to evolve, a successful data practice requires…
- People must have visibility into, and control of, the use of their data, important for compliance and establishing trust.
- Businesses must be able to utilize data in their existing databases and cloud solutions.
- It must work across channels, social networks, ad networks, and marketing automation solutions.
- Result must be equal or better quality of data as part of the incentive for business.
Concord’s experienced team of privacy experts deliver an easy to implement solution in the form of a website plugin/widget that gives companies the features they need to comply with the fast-growing list of regional, national, and international regulations related to data privacy.
The solution gives people the ability to see what they have consented to regarding the collection and use of their information and offers them control over the use of their personal data. This allows companies to comply with regulations while building trust and transparency with their consumers by demonstrating a commitment to privacy.
- Consent and Compliance: Organizations can quickly and easily comply with various regulations, nationally and internationally, and significantly reduce the cost of compliance.
- Better Data: Capture higher-quality data about your customers and do so in a way that builds trust and engagement with their clients.
Our data privacy, consent, and compliance solution helps businesses:
- Build trust and loyalty with users to drive higher engagement and more opt-ins.
- Reduce opt-outs and drop-offs due to privacy concerns.
- Ensure compliance with privacy regulations while decreasing compliance costs.
Who it’s for?
Few organizations have an understanding of which regulations they are obligated to adhere to and even fewer are equipped to build and maintain privacy features/controls necessary for compliance. Additionally, the cost of doing so is expensive and requires dedicated expertise.
Marketing organizations (who are struggling to drive effective marketing in an increasingly privacy-first marketplace)
The results of Marketing organizations are continuing to slide due to lower quality data. They need help improving on those declining results due to the increasing lack of trust among consumers and the move to privacy tools like ad blockers or privacy-first options available from companies like Apple.
IT/Legal/Compliance departments (who need to ensure they are in compliance with regulation)
IT/Legal/Compliance departments already find it difficult to keep up with the growing list of regulations and compliance features needed on their sites and in their apps. An ideal solution makes it easy to implement without knowing all of the dirty details related to compliance.
Discover the Benefits of Concord for Your Organization