We’ve all had feelings that our Amazon Alexa’s are listening to us. We’ve wondered how Facebook provides us with advertisements that are perfectly suited to us. We’ve all questioned how we got on weekly spam callers lists.
All of these activities run on data. What many don’t realize is that items like these, and more, are continuously listening and gathering information. Whether it’s personally identifiable information, location, or shopping habits, data is generated and collected each and every day and in numerous ways.
January 28 is International Data Privacy Day, a global effort to empower and encourage individuals to protect their digital data. In our increasingly connected world, many of our day-to-day transactions live online. From filling out forms and entering phone numbers to sharing email addresses, many individuals overshare. 46% of customers feel they’ve lost control over their own data because they are unaware (and uninformed) about where their data is going. This presents a problem.
For financial brands, International Data Privacy Day is an opportunity to educate customers. To help you get started, we’ve put together your game plan:
Remind Customers to Pick and Choose When to Share Information
When we talk about data, it can be a bit overwhelming. There’s a lot of it. And frankly, we’ve all probably shared more of it than we wanted to. If customers lose control of their data, they are more susceptible to identity theft, malware attacks, and stolen records. That’s why it is so important your customers must know everything they do generates data.
To kick off International Data Privacy Day, start by offering up a few tips to your customers. Give them a place to start to learn about their data. Tell them about online safety tips or recommendations for protecting personal information. It could be something as simple as telling them when they should or shouldn’t share data.
Here’s an example:
When to share your data:
- When you are working with an organization you are familiar with
- When the company is transparent about how data is being used
- There is no pressure to act fast or give information immediately
When not to share your data:
- An unknown email address or phone number is asking
- You’re using public Wi-Fi
- There’s a prize involved
- You’re speaking to a robot
This is a great way to explicitly show your customers what safe and unsafe sharing looks like.
Data is undoubtedly valuable to any business. In fact, data-driven companies are 23 times more likely to acquire customers. This means that businesses are hungry for information.
As a trusted partner, your customers look to you for how and when they should be sharing. Encourage your customers to only provide details that are relevant to the transactions they are making and to always double-check the trustworthiness of the site.
Show Customers How You Are a Trustworthy Partner
As you’re encouraging your customers to pay attention to their data sharing, it’s important to remember that you are a business, too. If your financial brand also collects data, be transparent about how you use and share that information. Ensure that you are following protocols to protect your customers’ information.
It’s kind of like the saying: “If you’re going to talk the talk, you better walk the walk.” Clearly communicate your data use practices and the current security measures you have in place to keep your customers’ data safe.
Maybe you have a two-factor authentication process customers must go through before logging in. Or, that your brand sends alerts when fraudulent activity is detected. These may seem like small actions, but they are part of a larger safety net that gives customers peace of mind. Be just as committed to protecting data as you want your customers to be.
Share Data Privacy Content
Data privacy is an ever-evolving subject that continually provides your financial brand the opportunity to create new content. This can be done in the form of a blog, an email reminder, or even social posts. Below, we’ve provided three example social posts that your financial brand could publish this year.
Post #1: Your financial brand could share a statistic. This provides customers with a number or percentage that will grab their attention and get them wondering about the problem.
That’s right! 72% of U.S. internet users find identity theft and fraud to be an issue. That’s why it’s so important to protect your data! This #DataPrivacyDay take a moment to review your privacy settings on your social sites and accounts
Post #2: Your financial brand could share a link to a resource you have. Maybe you’ve recently written a blog about Data Privacy, now you can send your customers to that page with a social post directing them there.
Personal information has tremendous value to businesses. Make informed decisions about whether or not to share your data by considering the amount of personal information they are asking for. Read our recent blog about how to protect your personal information online! #DataPrivacyDay2022
Post #3: Your financial brand could simply share a post recognizing an international day. This shows that you are timely and want to be an active contributor to the conversation.
It’s #NationalDataPrivacyDay! Today we encourage you to review your privacy settings on your personal devices and online accounts. Protecting your data should be a top priority. If you have questions, we’re here to help.
Protecting data is an evolving and difficult task. Be a financial brand that educates its customers on how to manage their personal information and keep themselves safe. Get involved by sharing tips, providing resources, or creating posts on your Instagram and Facebook to spread the word.
For more resources on Data Privacy Day and Week visit their website!