4 best practices for integrating privacy into your product strategy

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Changing consumer attitudes and new regulations have increased the challenges of protecting personal data. Today, privacy is more than a compliance concern, it is a key opportunity to differentiate. This is especially true for emerging technology platforms and applications that depend on user confidence to thrive.

Businesses need to have a clear privacy strategy in place to build trust and win consumer business. This is true for any business driven by customer data, whether they are technology companies or industries undergoing digital transformation. Our recent report, “Confidentiality as a competitive advantagePresented four case studies of how technology companies are integrating privacy into their product strategy. Here are some highlighted best practices that all businesses can follow to differentiate themselves when it comes to privacy:

Give users agency and control. Concerns about consumer privacy have evolved from exposure and data collection to autonomy, choice and control, especially as emerging technologies increasingly make assumptions about intent. of the user. Consumers need mechanisms to express their preferences and intentions.

Reveal the default settings. Ambient interfaces for emerging technologies like smart speakers and augmented reality (AR) make it harder to explore settings. Businesses should set default settings that protect privacy from the start. Make the defaults clear to users and provide the flexibility to change settings from the start.

Be honest about the business model. Consumers increasingly understand the exchange of value for their data, whether it’s improving service, better targeting personalized recommendations, or subsidizing a free service with advertising. Companies that are honest and straightforward about the business model will gain more trust and respect from consumers.

Changes in value require changes in culture. Prioritizing privacy doesn’t happen overnight. Dedicate cross-functional teams to overseeing privacy-centric thinking across the organization. Establish processes and performance metrics that prioritize and value consumer privacy.

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