Trust beyond compliance in the age of data privacy

Building Trust Beyond Compliance

In the age of data privacy regulation, companies are under greater pressure to maintain good customer relationships

The European Union’s General Data Protection Regulation (GDPR) has kicked off a new conversation about personal information and how companies can collect and use it. Consumers are gaining more control over their data, and expect the companies they do business with to respect their preferences.

New Rules Are on the Way

It’s only a matter of time before rules like GDPR are implemented in more places. In late June, the State of California passed the California Consumer Privacy Act of 2018, which will go into effect in 2020. While not as strict as the European mandate, the new law is set to be the most rigorous data protection regulation in the U.S.

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It’s Time to Make Changes

With governments all over the world giving consumers more control over their data, enterprise organizations need to focus on the data agreements they make with prospects and customers. Having a single policy in place that meets or exceeds the requirements of the new rules and regulations will help businesses ensure compliance, streamline operations, and build trust.

Respecting Consent Adds Complexity

To comply with the new data protection regulations, companies must ask consumers for explicit consent to collect and use their personal information in specific ways. But that’s just the beginning toward long-term, trusted relationships with the people you do business with. The real key to success is consistency in how you respect consumer preferences throughout your communications.

Because data privacy is fluid, your prospects and customers will likely change their minds about the types of consent they give you over time. And that means businesses must be able to track every consent decision, and update marketing activities for individuals who change their preferences.

This is where we expect a lot of enterprise organizations to fall short, unless they get a handle on all the customer data they have—including consent.

Maintain Trust with a CDP

Consent management can get complicated really fast, but you can significantly simplify the process with an enterprise customer data platform, or CDP.

A CDP is designed to eliminate data silos and unify customer data across channels. With a CDP, organizations can know where their prospect and customer data is at all times, and manage it effectively throughout its lifecycle.

Let’s say, for example, that a user opts out of email and that preference is recorded in your marketing automation system. With a CDP, you can sync this preference across your other systems, preventing your sales team from emailing the customer through Salesforce without knowing that she opted out via Eloqua.

With actionable customer data in one central location—your CDP—your people will know exactly who requested to never be contacted, who allowed contact once a month, who requested emails instead of phone calls, and who agreed to receive promotions but not display advertising.

Having a CDP can help everyone in your marketing department—and beyond—manage data protection more simply and effectively. Download this paper now and learn how to set yourself up for success in the new regulatory environment. You’ll not only find that compliance is significantly easier with a CDP, but you’ll also discover that it’s a valuable tool for building trust and maintaining great customer relationships.

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