October 20, 2021
Does your business have a website, mobile app, or desktop app?
The General Data Protection Regulation or GDPR is a European Union’s data protection law mandating how personal data should be used by organizations and companies in a friendly way. It applies to any business which processes personal data. It is set out on seven (7) key principles:
- Lawfulness, fairness and transparency
- Purpose limitation
- Data minimization
- Storage limitation
- Integrity and confidentiality
These key principles are set out right at the start. They embody the spirit of the general data protection regime instead of giving hard and fast rules. These are fundamental building blocks for good data protection practices. However, failure to comply may result in a different substantial fine as stated in Article 83 (5)(a).
Privacy policies build consumer trust for your brand
According to Cisco 2020 Consumer Privacy Survey, around one-third of the consumers are “privacy actives”, as what industry experts call them, who stopped working or shopping with companies with data protection issues. In fact, customers demonstrated a willingness to pay another company more for the same service as long as they display a commitment to privacy.
While 78% of consumers are concerned about sharing their personal data, 90% believe that companies should proactively protect the consumer’s sensitive personal information. These are the same individuals who are ready to be ride-or-die customers if a business makes protecting sensitive personal information a priority.
- State what information you collect – What do you collect? Is it personal information like names, addresses, phone numbers or perhaps other information? Explain this to your audience clearly. Pretty sure they will understand easily.
- Explain how you will use the information – Explaining how the information you gathered will be used is like walking your readers through everything vital. Is it for an e-commerce site? If it is, some data such as the customer’s name and address will be used. Third-party organizations, if there are any, should also be included in your explanation.
Hope this blog helps!
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