Top 3 Things for an Effective Company Privacy Structure
When people think of privacy policies, they usually associate them with rules, boundaries, and things you CAN’T do. However, there is a growing emphasis on privacy concerns and regulations as more customer interactions move online. As a result, the way that companies handle and protect consumer data privacy has become less of a constraint and more of a competitive differentiator.
How do you go about turning your privacy structure into a winning trait for your company? Here are the top 3 points to help you get started:
1. Understand Global Privacy Concerns
Before you do anything, you need see the full picture and have an understanding of the different privacy concerns across the globe. For example, the EU recently launched the GDPR, which gives people the right to be forgotten. Also, according to a recent survey conducted by Forrester, the number of security and risk professionals with privacy concerns is much higher in emerging markets than in developed markets.
A clear knowledge of privacy concerns across the globe is important because it directly affects your ability to collect, store, and use customer data for business and marketing purposes.
2. Create a Multi-Functional Privacy Committee
With the increase of online interactions, the amount of data collected and the demand for generating insight from the data to create effective business strategies have also gone up. You now have multiple people and teams across your company who have access and are actively touching your customer data.
Because of this increased access, it is important to steer away from the traditional way of structuring your privacy organization—with privacy officers, legal team, risk and compliance team, for example—to a more modern and cross-functional approach. In additional to the teams mentioned above, it’s also important to include members who interact with the data directly to generate customer insights and create effective business strategies.
3. Be Adaptable to Change
As more companies undergo digital transformations and move their operations online to meet their customer demand, the level of privacy concerns will only escalate over time. So there really is no one perfect privacy solution for everything you’re going to encounter.
Just as your company will evolve as it grows and develops, you should take the same approach when it comes to your privacy team and policies. Your privacy program is not a static thing, and it should be adaptable to any changes with your business goals. This flexibility will generate more customer trust because it shows that you always have your customers’ best interests at heart and it will help to ensure that your business strategies are both within regulation and effective at all times.