Privacy

A recent study around the Value of Our Digital Identity by the Boston Consulting Group, shows that on average 76% of the people worldwide agree with the fact that they have to be cautious when sharing personal information online. Surprisingly, only 10% of the respondents indicated that they have taken more than 6 common privacy-protection measures, such as: update their social media privacy settings, opt out, etc. The same study also shows that consumers are up to 52% more willing to share information if they can manage their privacy.

The Advantages of Internet Privacy

This information shows us that online application providers have a lot to gain from deploying security measures, like for example MYDIGIPASS.COM. Tools like this are designed to secure access to any online service, while at the same time giving the users control over their personal data. This results in the following 3 business benefits:

  1. Solid Brand Reputation:
    One of the most important advantages of internet privacy for an organization is the protection of the brand’s reputation. A successful attack on a business impacts the business long after the data is stolen. A cycle of bad press following the attack will tarnish the brand reputation and convince customers to take their business elsewhere. Limit the chances of having your brand reputation injured in the wake of a possible user data leak or security breach.
  2. Higher customer engagement: 
    As the study showed, the more your users can trust the security of your platform, the more likely they are to share more personal information. This will drive engagement with your service and ultimately revenue for your business. Expect to gain more knowledge about your users as they are more likely to share personal information with you if they can control their privacy settings.
  3. Competitive edge:
    When your users voluntarily share personal information with your company, it provides the opportunity to deliver better service. As your users are inclined to share more personal information with you, you can tailor your offering to their needs much better than any of your competitors.

By applying the right security measures, you can give privacy control back to your users and offer them a more personalized experience of your service. Who would have thought that security would become a marketing requirement and business enabler rather than simply an IT cost?

Download now: Increase Trust for Mobile Banking

Source Image: iStockphoto.com/Marco Volpi

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One Response to 3 Business Benefits of Data Privacy
  1. Valuable information must be protected. Information is one of the most valuable assets of any enterprise, no matter what kind of product you are developing to handle it: a custom software or in-house automation solution. Its protection is a vital part of IT infrastructure. Make your life easier by integrating security into the solution.

    Mark@Alephtavindia

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