Through the use of software, the internet, and other technology-driven strategies, more data is being collected than ever before. As a business owner, you probably already noticed this phenomenon. Your customers have noticed as well. The customers who understand what is happening know about the privacy implications all the data gathering is having, too. It is your job, therefore, to ensure you are using the information in a responsible manner.
Be Careful with How You Collect
According to SalesForce, the first step to developing trust when collecting customer data is to be careful about the strategies you are using. Every purchase gives you information about your clients, including their form of payment, the items they purchased, and anything else they volunteer like their email addresses and phone numbers. Permission marketing, for example, became popular when customers grew tired of receiving advertisements over email that eventually became spam. It is best to be clear about your intentions. Loyalty programs are the easiest way to gather dates of birth, residence facts, and other personal data. Be upfront about how you are going to utilize it.
Show How You’re Handling It
Trust has to be built. Then, trust has to be maintained. The easiest way to maintain that trust is to remain compliant with privacy rules and regulations. As Merchant One explains, PCI compliance can be an overwhelming and complex thing to achieve, but securing your customer’s data and letting them know they’re safe is key for any business. Corporations that have been hacked paid hefty fines. They also had to upgrade their systems. After the heavy fees, it still took time for their regulars to rest assured their information was safe once again. If your customers ask questions, answer them.
Demonstrate the Benefits
There are several reasons why data is important for your business. CMO says that from it, you can make better-informed decisions for marketing campaigns and inventory. While you are asking your customers to trust you with their information, consider demonstrating the benefits. A loyalty program offers them discounts, coupons, and points. So as you collect the data, demonstrate the benefits, too.
Your customers know you are collecting data with every purchase they complete. As you do this, build trust, remain compliant, and demonstrate the benefits. The increased data at your disposal will improve your marketing efforts, so your goal is to maximize it while developing customer trust.
To learn more about improving your marketing, check out these articles from The MGR Blog:
And as always, you can also stay updated with all the latest tech updates through our two podcasts, MGR Edge and MGR Unplugged.
Thank you for reading. Until next time, this is Manuel Gil del Real (MGR)