Data Privacy Week - A Message from Concord’s CEO on the Importance of Data Privacy
Happy Data Privacy Week everyone! If you don’t know, Data Privacy Week is an annual campaign to spread awareness about online privacy. In honor of this year’s theme - Take Control of Your Data - we are sharing information about ways that individuals can protect their personal information plus helpful guides for companies about how to protect customer data while building trust with users. To kickoff the week, our CEO, Dash Lavine, shared the following thoughts on the importance of privacy and how privacy-first strategies are critical when it comes to growth:
When it comes to privacy, people often focus on compliance alone and how to check the growing number of regional compliance checkboxes. Other folks sweep it under the rug, waiting until their hands are slapped or something worse happens, like getting fined or sued.
The most successful companies do it differently. Sure, we all have to deal with numerous privacy laws, which is a good thing for all of us as individuals at the end of the day, but the most successful companies also realize that it isn’t just about compliance. It’s about trust.
Trust has always been one of the most important factors when it comes to growth. More trust means better relationships, and better relationships with your customers means better results over time. The companies that truly embrace the fact that trust equals growth are almost always the most successful.
Unfortunately, building trust can often take a back seat to other initiatives. It’s not that we don’t realize that trust is important, but it’s a by-product of the fact that we are all busy people with lots of things on our plate and building real trust takes time. It’s all too easy to focus on other strategies and deliverables, especially when you don’t quite know where to start.
That needs to change, so at Concord we are kicking off a new content series this week that will give you practical tips to start building trust with your customers that will drive real growth at your company. This will include:
The importance of customer choice and why it is a win-win.
- Customer expectations and concerns when it comes to personalization.
- Protecting customer data and respecting opt-outs.
- Smart tagging of data to avoid data being shared with the wrong parties and to avoid the usage of unwanted personal or sensitive data in large language models (LLMs) used for AI.
- Implementing and using privacy-first web and product analytics to drive better sales, engagement, and adoption.
- Why signal-based sales and marketing is the future and how trust drives better signals.
There are many more areas of exploration here, so we would also love to hear from all of you about how you think about trust and growth today, the types of challenges you run into, and where you believe things are going in the future.
To get started today, you can revisit our previous blog articles that outline important steps that companies can take to ensure privacy compliance and consumer data privacy best practices to protect their online data.