The demand for online privacy is rising. Let’s look at recent example from last year: In the April 2021 iOS 14.5 update, iPhone users were given the option whether to be tracked across apps. A whopping 96% of people chose NOT to be tracked, indicating how important privacy is to people.
Not that this craving for privacy is new, however. Even very early on in the Internet revolution, consumers took free products at face value, and didn’t yet realize that “if you’re not paying for the product, you are the product”.
But with the movement of all communications online during the COVID-19 pandemic, people are starting to expect much more out of the companies they share their data with. With so many leery of sharing their personal info online, having independent proof of how much you care about consumer privacy is a huge business advantage.
In this article, we’ll look 5 ways our Ubiscore badge (called UBICERT) can help you gain confidence from your customers and partners. This badge is something we award for organizations that have achieved a privacy score exceeding 650 using Ubiscore, because the fact that they’re using Ubiscore proves they’re working on and committed to safeguarding customer privacy.
Having our Ubiscore badge creates a competitive advantage because it positions Privacy as a Trust metric:
1) It improves your ROI: According to a 2023 Cisco report, for every dollar companies invest in privacy, they experiencing a strong 1.8 times ROI. Privacy ROI is real, and with the ongoing threat of data breaches and misuse by both authorized/unauthorized users, people don’t want to take chances anymore. They only want to work with companies they can trust. Plus, the more sales you get, the bigger you grow, meaning more social proof and brand trust for your company.
2) It reduces Customer Churn: Since our badge shows that you prioritize data privacy, it’s one of the fastest ways to drive customer loyalty and retention. Treating a customer’s data with respect for their privacy will lead to happy, satisfied customers that keep coming back for more.
3) It’s evidence you’re compliant: Organizations that fail to comply with data protection regulations can be subject to fines, lawsuits, and potential director liabilities. Whereas when you use Ubiscore and achieve the Ubiscore badge, it means you’re implementing the best practices for data protection, and risks associated with data breaches are dramatically reduced, keeping you in a much better position than competitors who don’t use Ubiscore.
4) It helps you operate better: Once you get an Ubiscore badge and know the mitigation strategies needed to improve your privacy score, you’ll receive significant benefits beyond compliance, including better agility, optimized data, and improved attractiveness to investors.
5) It establishes you as a consumer-focused thought leader: When you educate others on their rights to privacy, you can build an authoritative voice in your industry. Be one of the first to get a privacy badge in your industry, and you’ll stand out as a thought leader devoted to protecting privacy. Being a thought-leader in this area can open doors for your business that never existed before, including new opportunities to which you would otherwise not be privy.
Our Ubiscore badge is there to add some sense of security, credibility, and call attention to your brand’s dedication to privacy. It’s a small but significant visual reminder that will convince customers your business is reliable and trustworthy, and that you keep customer info safe.
Most consumers will not want to deal with a company known to lack adequate data protection, and since data breaches are at an all-time high these days, providing data protections is not just a nice thing to do–it’s a crucial thing to do. Taking a privacy-first approach with your prospects and clients pays off, and if you don’t take privacy seriously, customers will look elsewhere.
Here’s to building a trustworthy brand that will last for years to come!