Security Market Segment LS
Thursday, 19 August 2021 11:15

Businesses fall short when it comes to data privacy expectations: study

By

Australian businesses are not keeping up with the data privacy expectations of their customers when digitising their offering, according to a new Heart Matters study announced by SAP Southeast Asia.

The study reports that when it comes to data protection, organisations fall short of expectations by up to 50%. More than four in five (84%) consumers want transparency into how their personal data is being used, but only 34% have been shown accountability.

The study adds that the expectation among Australians is higher than the APAC average expectations of three quarters (74%).

“COVID-19 accelerated the rate at which businesses implemented digital infrastructure to continue meeting customer demands for a seamless online experience,” explains SAP customer experience Australia and New Zealand executive general manager Scott Treller.

“While it’s positive that brands have adapted quickly to the pandemic by embracing digital tools, the findings highlight the concerns that Australians have around how brands are collecting and using their data,” Treller explains. “As a result, they expect assurance that their data is secure. Brands need to ensure that they protect customer information and offer the ability to control how it’s used, if they are to gain trust, and ultimately business, from consumers.”

A matter of trust
The research says brands need to know their customers in order to deliver experiences to differentiate them from competition and retain customer loyalty. On the other side of the spectrum, they need to collect and process customer data, which is complicated.

There is a mismatch between customer expectations around data privacy and how businesses are performing—and this will have a significant impact if not addressed.

The majority (84%) of Australians expect that organisations will not share their data with a third party. However, only just over a third (37%) believe that the information they shared with a business has kept it secure.

In order to live up to customer expectations, brands must build trust by putting customer needs first and providing them with the freedom on how they want to be engaged.

“Start by offering customers transparency and control of their own personal data. Not only will this give customers a better understanding of your data practices, but it can also let them define their own experiences, to build trust. For businesses, there’s no better partner than an informed, empowered and data-driven customer,” suggests Treller.

Understanding expectations vs experiences
The Heart Matters study also indicated a gap versus customer expectations and actual experiences in areas such as:

  • Responding to a customer query within 24 hours (82% vs 41%)  
  • Resolving customer issues in less than three interactions (83% vs 43%)
  • Treating suppliers ethically (78% vs  44%)
  • Actively working to reduce gender and racial inequality (73% and 43%)
  • Respecting the rights and welfare of their workers (81% vs 58%)
  • Implementing specific policies in place to reduce and report their carbon emissions and carbon footprint (57% vs 36%)

The full report of the Heart Matters study is available for download here.


Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinatrs and campaigns and assassistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE
Kenn Anthony Mendoza

Kenn Anthony Mendoza is the newest member of the iTWire team. Kenn is also a contributing writer for South China Morning Post Style, and has written stories on Korean entertainment, Asian and European royalty, Millionaires and Billionaires, and LGBTQIA+ issues. He has been published in Philippine newspapers, magazines, and online sites: Tatler PhilippinesManila BulletinCNN Philippines LifePhilippine StarManila Times, and The Daily Tribune. Kenn now covers all aspects of technology news for iTWire.com.

Share News tips for the iTWire Journalists? Your tip will be anonymous

VENDOR NEWS