Private data is now a very public issue. For the first time in history, people recognize that businesses store their information and they want to know how – and why. They want to know why websites need their email address so badly, and they understand that private photos can be hacked.
The question asked in the title is a good one to ask yourself on a regular basis if you are a business. It can be very easy to forget that the average person experiences your website and interacts with your business without a script. The result of having no script to follow means that customers will not necessarily be doing things on your site the way your tech team does, and that the questions they ask customer service may not follow the dialog your representative is told to follow.
In order to maximize profits in today's digital landscape you must be able to capture and analyze customer data. Top online marketers are able to achieve more than three times the conversion rates of other marketers. Which side are you on?
The more you know about your customers, the better you can serve and give them the products they want. In return, the more they trust and become loyal to your brand. But with all the information you gather from your customers to provide one-to-one service and personalized products comes the responsibility to take care of their personal data.
With so many people sharing their personal information on social networks, businesses can capitalize on these opportunities by leveraging their users’ data points in ways that add value to both parties. An e-commerce business looking to reduce cart abandonment rates can send tailored reminders to customers.