Privacy requests from consumers are more popular now than ever before. Unlike days gone by, consumers now care about their privacy and how companies handle their data. With this increase in awareness from consumers, along with the growth in global privacy regulations, companies have to be prepared to deal with this increase in data reclaim requests.
Despite an increase in these requests, most companies have yet to put a standard in place for handling privacy requests. This situation has resulted in cumbersome processes for companies, and frustrated consumers who are finding it increasingly difficult to take ownership over their data.
Some companies have built processes for request handling from a compliance standpoint but they fail to take into account the most important point at the heart of these requests – the users: their needs and behaviours. At Mine, we saw that companies using these platforms have been missing the opportunity to provide a privacy experience that focuses on nurturing the relationship between the business and the consumer, which companies have worked so hard to build.
Consumers care about their privacy
A report by Gartner states that ”by 2023, 65% of the world’s population will have its personal data covered under modern privacy regulations”. In addition to this, two-thirds of shoppers have stated that they are worried about potential data breaches. The outcomes of these studies demonstrates that data privacy and ownership has become much more than just a compliance burden – providing consumers with a better data privacy experience has become an extremely important part of companies’ user experience, brand reputation, trust, and ultimately, the bottom line.
While ensuring that a business is in keeping with compliance regulations is an important reason behind making sure the handling of data reclaim requests is done efficiently, there is a necessity to look beyond compliance. Businesses must go beyond outdated methods of data handling and take this opportunity to provide a privacy experience that focuses on the user. This focus on the user will in turn enhance the relationship they have with the business. Users place their trust in organisations, and their privacy experience is part of their overall user experience and level of brand trust.
Efficiency and automation is key
Having an automated and orchestrated process can be key for businesses to ensure they don’t waste precious time or are prone to compliance risks and can instead focus on their users and the business itself. This is the time for companies to be looking at a consumer-centric solution that views data privacy from a more holistic approach. Mine for Business, for example, adds an automation and operation layer to privacy processes with API integrations, standardisation of consumer requests, and real-time, continuous data mapping of all data sources. This type of platform can provide businesses with peace of mind and the ability to easily locate or delete customer data with a few clicks. In turn, helping to maintain customer satisfaction and trust while allowing the consumer to feel in control of their data
As consumers wise up to the value of their data, it’s never been more critical for organisations to put efficient processes in place for data reclaim requests – not only for customer satisfaction, but compliance too. Businesses that fail to meet regulation could face public scrutiny and large fines. The ways in which businesses’ privacy strategy is implemented is key. Keeping the customer at the centre of the entire process allows for the transparency and trust consumers so desperately need from the companies they give their data to.