More Transparency Means More Trust
Besides legal compliance, there is a lot organizations can do to earn customers’ trust on data privacy, including not selling personal information, avoiding data breaches that expose personal data and allowing customers to configure their own privacy settings.
However, when asked to rank what’s most important to them, 39 percent of respondents to the Cisco survey picked having “clear information on how data is used” as their top priority.
Consumers are making it clear that they expect organizations to be candid with them about how they use their information and to make that information accessible and digestible.
According to our survey, 76 percent said they would not buy from a company that they do not trust with their data. Companies that collect only the data needed to serve the customer and use it only in ways the customer would expect are winning points in terms of trust.