GDPR, Transparency & Brand Trust
By PlanetVerify on 12 Apr 2018
With May 25th fast approaching, there has been plenty of scaremongering around strict deadlines, ever-tightening regulations, true consent and compliance strategies.
While the new regulations can be overwhelming, it doesn’t have to be all bad. GDPR can have a positive impact on your consumers and clients in a way that keeps them loyal to your brand while scaling trust and encouraging repeat custom and retention rates.
A recent study in the UK by the Information Commissioner’s Office revealed that as few as 1 in 5 members of the British public purported to hold ‘trust and confidence’ in how businesses store and use their personal data. Accenture performed a similar survey finding that “87 percent of consumers believe it is important for companies to safeguard the privacy of their information.”Now, more than ever, is the time to focus on what your customers want. Consumers hold a strong interest in who has access to their personal data and how it’s utilised. If you have an organisation that is considering a transparent and holistic approach to how you handle customer data, you could just see a significant boost in brand trust and loyalty for your efforts – and with loyalty comes scalability.
Consent Consent Consent
One of the quickest ways to increase customer satisfaction around your organisation’s data handling and processing, is by clearly defining specific, unbundled and granular consent. Consent is a hot topic when it comes to GDPR. Until now, consent could be loosely implied and didn’t need to be regularly refreshed by subjects. From the end of May onwards, personal data handling guidelines within the GDPR will be treated as a regulation rather than a directive. Make sure your customers understand the parameters around the permissions your company is requesting, what the consent means for them, how long it will last and how it can be withdrawn if the subject so chooses to withdraw it. Using positive approaches to GDPR compliance can be a scary thing, but if you look at it as a brand new unique selling point you can master, customer satisfaction should increase significantly.
Here’s a look at what is important to keep in mind when collecting customer consent and building trust in the process:
Your customers’ personal data belongs to them. Any mishandling of what is deemed to be their property may lead to angry or anxious customers, nevermind legal ramifications and fines. Be open, clear and real about your personal data management efforts. If your customers can’t understand how you handle their personal data, how can you expect them to remain loyal and develop trust in your brand?
If consumers don’t understand the processes around consent put in place by your organisation, you may lose out. Transparency ensures any consent you request is easy to recognise, understand and agree to for your customers. Keep them in the loop by keeping your intentions out in the open. Another great idea is to appoint your company Data Protection Officer, who can guide and advise your staff on how best to remain compliant and above-board. Introduce them with your new online compliance notice so your customers know they are in safe hands with a proactive and compliant business.
In order to ensure your customers trust how you handle and use their personal data, you’ll need to become an expert yourself. Answering any questions your customers might have around data regulations and your organisation’s compliance with GDPR rules will reassure them that they’re with a brand they can trust. Don’t worry, becoming an expert on managing data with compliance in mind is not an overnight process, but rather an evolution that will occur naturally over time. Getting started on the road now ahead of GDPR implementation isn’t a bad idea for you or your business.
Easy to use tools like PlanetVerify might be ideal in keeping yourself up to speed and transparent when it comes to implementing brand new ways to manage your consumers’ data with respect and compliance.
Knowledge is power and empowering your customers is a fast track to retaining their trust. By working with apps like PlanetVerify, your business will give consumers the opportunity to easily upload, verify, store and give consent for the usage or sharing of their personal data in specific, clear and controlled ways.
Collect unlimited data sets in addition to actual documents. Regardless of your business type, PlanetVerify offers something our competitors don’t – we focus on efficient, secure and compliant data collection, while our competitors typically focus on ‘verifying’ individuals. That also includes simple name and address collections of customers you might have in any business type, whether it’s a yoga studio or property advisory firm. Increase customer loyalty from the get-go and schedule a demo today.