Why You Need To Re-Examine Your Privacy Policy

Your privacy policy shouldn’t just be another item checked off on your company’s “to do,” list. A well-constructed privacy policy can do more for your business than you might think, and hey! It’s possible that you’re putting your business in danger or missing out on an easy opportunity to boost your conversion rate. Your privacy policy is more important than you think. Take a look at this list and see if you’re addressing these points in your policy.

1. A Privacy Policy Should Some Amount of Legal Cover. Yes, a detailed privacy policy that is respected by the company can lend some protection in the off chance that a customer becomes upset with the way his/her information has been used. However, you have to respect the policy. Facebook had a privacy policy that they essentially ignored and they were heavily penalized for it. It also damaged their reputation and put users on-edge.

2. A Privacy Policy Is Kind Of A Big Deal To Affiliates. Privacy is a sensitive issue for many people, often companies will not do business with a company who is involved in dishonest practices. If you’re looking to work for/with other companies you need to be on top of your game or you’ll get left on the bench.

3. Creating A privacy policy builds trust. Transparency builds trust and respect. A well-constructed policy builds your reputation for excellence and good practices. Crafting a good privacy policy tells potential customers or existing customers that you’re a company with their best interests at heart, that you’re one of the good guys, and follow customer-centric practices. When customers trust your business they’re more likely to make a purchase or become a repeat customer.

4. It’s the law. There are no federal laws in the US regarding business privacy policy, instead, each individual state has their own legal requirements.

5. The world is changing. Cloud Computing, Social Media, Cookies all pose unique challenges in today’s business world. Consumers are smart, they know that they are at risk when sharing their information. They expect to see these individual challenges addressed so that they can make an educated decision before sharing private information with your business. If they don’t feel safe, they’ll go elsewhere. Don’t forget that the internet is full of companies. Finding a similar company with a similar product with a better privacy policy isn’t that difficult.

6. International Business. You must comply with specific regulations if you have customers outside of the United States. The EU is a lot more strict when it comes to protecting people’s privacy.

7. Children. There are privacy laws in place to protect children under 13 years old.

Photo credit: Technet.com

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1 Response

  1. Tiffany says:

    When is the last time you reviewed your Privacy Policy? A well-constructed Privacy Policy can do more for your business than you think! Here are some helpful guidelines.