In part one of our Privacy by Design series, we introduced the concept of Privacy by Design. In this post, we’ll be discussing why privacy is a paramount concern for consumers and advertisers alike.
With online browsing devices multiplying and becoming exponentially more advanced, and with the proliferation of technologies that can accurately amass larger and larger amounts of shopper habits and insights, it’s never been more crucial for companies to ensure their customers’ data is protected at all times and keep them informed on how that data is used and shared along the way.
Why privacy matters for advertisers.
When it comes to ecommerce, protecting consumers’ privacy and being forthright with them about business practices is a matter of respect. When customers understand exactly how their information is being used and are given control over their personal browsing information, it strengthens their trust in a company. And the more a customer trusts a brand, the fiercer their loyalty to that brand will be in the long term.
Why privacy matters for consumers.
With the number of devices that collect and share information steadily increasing, consumers have become more interested in how their data will be collected, used, and protected. Conversations around digital privacy can make them worry about being exploited, harassed, or harmed by the exposure of their digital data, but a recent study by the Harvard Business Review shows many consumers aren’t even aware of the type and depth of personal information they give away online.
And yet, consumers also crave a personalized experience from the brands they love. How can you reconcile these two seemingly conflicting desires? Through relevance, trust, and empowerment. This means keeping shoppers informed about how their data is collected and used, and ensuring they can maintain control of the hows and whens in their online advertising experience.
How advertisers can maintain privacy and profits.
While collecting and using data is a key way for ecommerce businesses to deliver personalized, relevant ad experiences and drive sales, it’s best done transparently — allowing shoppers to maintain control over their own browsing journey.
Some of the key elements of a transparent and trustworthy privacy relationship between customers and marketers include:
- An explanation of what data is and isn’t being collected, as well as how that affects a browser’s online experience (For example: Criteo collects information on products you view, but does not collect any directly identifying data. This allows Criteo to show you products you are far more likely to be interested in and minimizes unwanted, irrelevant banner ads that can clutter your browsing experience.)
- An opt-out choice that is easy to use and access, with language that explains how that will affect a browser’s ad experience.
In our next post in this Privacy by Design series, you’ll learn about how safeguarding consumer privacy is an integral part of product development, rather than an afterthought.
3-Part Privacy by Design Series:
Privacy by Design: A Fundamental and Innovative Approach to Privacy [Part 1]
Why Privacy Matters Now More Than Ever [Part 2]
Building a Strong Privacy Fortress [Part 3]