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Whether through surveys, online tracking, social-media monitoring, in-store-purchase monitoring or the many other ways in which brands collect data, it’s no secret that <a href="https://itchronicles.com/big-data/how-do-big-companies-collect-customer-data/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=protecting-consumer-information-in-a-data-driven-marketplace-2712352" target="_blank" rel="nofollow">consumer data is being thoroughly collected, analyzed and aggregated</a> in order for brands to identify marketing opportunities.&nbsp;And while consumer data collection is great for brands, many consumers aren’t on board with their information being shared. According to a <a href="https://www.cbsnews.com/news/truste-survey-more-americans-concerned-about-data-privacy-than-losing-income/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=protecting-consumer-information-in-a-data-driven-marketplace-2712352" target="_blank" rel="nofollow">2016 report from the TRUSTe/National Cyber Security Alliance (NCSA) Consumer Privacy Index</a>, more Americans are worried about their data privacy than they are about losing their primary source of income. What’s more, 89% of those surveyed for the report said they actively avoid companies and brands that they don’t believe protect their data.&nbsp;In today’s marketing atmosphere, brands are increasingly feeling pressure to respond to consumer concerns about how companies are using their data. <a href="https://1851franchise.com/how-mindbody-leverages-data-to-understand-consumer-preferences-and-predict-industry-trends-2712178#most-recent">Collecting, analyzing and aggregating consumer data can be one of the most effective marketing tools</a> — but before brands can do so, they will have to convince consumers that their information is safe.&nbsp;&nbsp;There are a few established methods to assure consumers that their data is <a href="https://1851franchise.com/how-to-bring-your-restaurant-concept-into-the-future-utilizing-technology-in-day-to-day-operations-helps-position-you-ahead-of-the-competition-2712204#most-recent">gathered and used in a way that is safe and secure</a>.Only collect what is necessaryCompanies should only collect the data needed to help them do their jobs. Collecting unnecessary customer data means wasted resources, energy and dollars. Collecting unnecessary data also provides a bigger opportunity for hackers to obtain customer data.Limit who has access to the data&nbsp;Not everyone in the company needs access to customers’ personal information. If employees don’t use the information as part of their daily job duties, then there is no need for them to have access to it. This limits the potential of any information getting leaked.&nbsp;Require passwords and authenticationTo ensure that only the people who are supposed to be using customer data have access to it, require password procedures and strong authentication policies for all customer information, sensitive or not. Companies should also be requiring complex, unique passwords to gain access to customers’ personal information.&nbsp;Destroy information after it’s usedRather than stockpiling every item associated with a consumer’s habits, consider getting rid of data after it’s served its purpose. Doing so can go a long way to reinforce consumer confidence in the company’s safe usage of their information.&nbsp;Let customers know their information is safeInform customers about how you use their data and keep it safe. That doesn’t mean providing a five-page-long privacy statement in indecipherable legalese. Having an accessible, straightforward security statement will help set your customers’ minds at rest.

Protecting Consumer Information in a Data-Driven Marketplace

1851 Franchise

Collecting and utilizing consumers’ data can be one of the most effective marketing tools, but consumers need to know their information is safe. 

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