Why are so many companies pushing for digital transformation? According to a recent survey on the subject, most businesses want to optimize customer experience and engagement. That’s a no-brainer, right? However, what may not be as obvious is that collecting and managing consumer data plays a huge roll in reaching those goals.
That said, handling consumers’ personal data comes with risk. Data security and privacy compliance are not just buzzwords in today’s business landscape. Here at Gigya, we help clients manage these concerns, and we wanted to dig deeper into some of the latest globally recognized security and privacy regulations that you should be aware of—and remain compliant with—if you want to use consumer data to drive revenue.
Our latest webinar, Balancing Digital Transformation & Privacy Compliance, will help you do just that. And this recap should, at the very least, get you thinking about the potential ramifications of not adhering to the new rules of digital transformation and privacy compliance.
Where do Privacy and Digital Transformation Intersect?
Of all the major trends impacting digital business these days, addressing the following three areas should be at the core of your digital strategy if you’re interested in building more trusted and transparent customer relationships:
- Personalized Customer Experience: Enable frictionless and relevant interactions between customers and your brand.
- Privacy Compliance: Ensure regulatory compliance and self-service preference management.
- Security: Adopt modern and effective access management and data security policies.
Registration and profile management is the most broken part of digital business today. Many companies are still trying to function in the “then” instead of the “now,” and in so doing are missing a golden opportunity to turn anonymous website visitors into known brand advocates while delivering more valuable data to your business.
Today’s customers want to interact with companies who are firmly functioning digitally in the“now.”
With Great Power Comes Great Responsibility
Today’s digital businesses collect reams of customer information—behavioral and registration data, device and location information, and likes, interests, and other social attributes.
But as tech-savvy consumers have become more open to sharing that personal data online,they’ve also became educated about consumer privacy rights and cybercrime. The expectation that a potential customer has when offering up their personal information is for that data to be protected and safe.
And now governments are sitting up and taking notice. The result? New privacy and security frameworks are being set up (including strict anti-spam regulations) that companies must adhere to—or potentially face long, expensive court cases, massive fines, and severe damage to brand reputation.
Key Global Regulations
Here’s a quick rundown of some key privacy regulations that you need to be aware of and compliant with, as they are relevant to your business:
- Data Privacy—European General Data Protection Regulation (EU GDPR)
- International Data Transfer—Privacy Shield
- Data Localization—Russian Federation Personal Data Protection Act
- Anti Spam—Canadian Anti Spam Legislation (CASL) & the U.S. FTC’s CAN-SPAM Act
- Protection of Minors—Children’s Online Privacy Protection Act (COPPA)
- Accessibility—Web Content Accessibility Guidelines (WCAG)
These rules and regulations are constantly evolving, just like the technology that spawned them,so it behooves your organization to keep a watchful eye on any changes to privacy laws—not just in your country, but around the globe. Again, check out our webinar to learn more details about these regulations.
Managing Privacy Regulations
By now it should be obvious that every company, of any size, that’s going through a digital transformation of any kind needs a systematic way to meet these new requirements. And these regulations run deep, affecting many systems across your whole stack and employees across your entire business, including members of your C-Suite.
When you start connecting the dots between all the systems and people in your organization that these regulations can affect, you end up with a complex web of interactions. The following figure highlights the importance of having every stakeholder for consumer data up-to-date and knowledgeable about current data protection and privacy compliance requirements, including members of IT, Marketing, Legal, HR teams and more.
Five Key Elements of Data Privacy Compliance
There are five key areas where privacy and user experience intersect that you must consider when conducting your data privacy audit:
- Consent Management—Obtaining consumer consent, providing proof of consent, and adhering to minimum age of consent requirements for every region where data processing occurs
- Social Compliance—Adhering to current terms of service for social networks
- Anti-Spam Preference Management—Opt-in, opt-down, and opt-out laws, and implementing“per country” rules
- User Data Control—The ability for users to independently view, freeze processing of,download, and delete their data at any time
- Data Localization—Physically localizing data in relevant jurisdictions.
Managing all of these areas requires a robust, centralized platform for managing consumers’ personal information, which is what Gigya’s Customer Identity Management platform is all about.
Again, we can’t stress enough how important it is to keep abreast of the changes and adjustments that continually occur in all of these areas. There is no “set it and forget it” option when it comes to consumer privacy compliance.
If you’re feeling a little overwhelmed after digesting all of this information, we want to assure you that attaining consumer privacy compliance is not an impossible task. The reason we created this particular webinar, Balancing Digital Transformation & Privacy Compliance, was to give you a leg-up over your competition by showing you how to provide a customer experience that is second-to-none while adhering to all global consumer privacy requirements.
For more background on some of the global regulations we’ve mentioned, you can also checkout this handy white paper: Managing Consumer Data Privacy with Gigya.
If you’re already on top of all of current and upcoming data privacy and security regulations,then congratulations! If you’re not, or if you’re just getting started, we hope we’ve given you some food for thought around where to focus your efforts. Of course, we’re always here to answer any questions and to help make this process as easy as possible for you.
By David Kerin