There’s one thing just about every company has in common right now. Without even necessarily meaning to, they have in some way become the proprietor of a new kind of wealth. I’m referring of course to their customers’ data.

Correct. All companies are data companies now. Collection is trivially easy.

The backlash is beginning. According to Harris Interactive and TRUSTe study, 84 percent of consumers are less likely to click on an online ad and 74 percent are less likely to enable location tracking. In addition, a full 89 percent won’t do business with a company that doesn’t do a good enough job protecting them online. And 76 percent are likely to check websites and apps for a privacy certification seal.

This is a mini-GDPR of sorts ... :-)

Follow this advice to build consumers’ confidence in your ability to protect their privacy:

+ Put security measures in place. Hire the right IT people, invest in top-of-the-line equipment, and train your employees to follow protocols. If you haven’t taken the proper precautions, you can’t protect your customers. It’s that simple.

+ Be transparent. Tell customers how you collect their data and how you plan to use it. Rather than bury your disclosure in some long-form policy that people don’t want to read — or can’t understand — make your language simple, straightforward, and easily viewable. Go a step further and share details about all the measures you are taking to protect customers’ information.

+ Collect only what you need. You send up a warning flag when you ask for too much information for simple online transactions. Ask consumers to share only the information that is required for them to do business with you.

+ Offer customers a choice. Verizon, for example, recently announced that it is allowing customers to opt out of its online advertising campaign completely, so even it’s “supercookies” can’t track users’ activity.

+ Don’t sell customers’ data. If you can’t stand the thought of losing that source of revenue, think about the income you will lose when your current customers defect because they feel you have violated their privacy rights. Imagine the potential customers that won’t do business with you because they don’t trust you.

The privacy revolt is starting, and as more consumers become fed up with unsolicited ads and questionable marketing techniques, they’ll turn to tools that help them protect their privacy and ultimately keep you from marketing to them at all. Take steps now to protect your customers — and your business.

"'A big effort for a little card' - State in second climbdown as adopted man finally receives #PSC eight months later (via @thejournal_ie

Official now: UK Commons committee writes to Mark Zuckerberg asking him to get on a plane and front an inquiry in London.

Trust in brands and firms will continue to deteriorate unless people fully understand the data that is captured about them and how it is used. We need to know who our data is being shared with and for what purpose.

The use of psychographic targeting is nothing new, however, and many in the data industry – in private at least – believe the issue shows the value of the technique, although they also recognise that transparency is paramount. Cambridge Analytica also has a commercial data-driven marketing operation; its client list is shrouded in secrecy.
One industry insider said: “What this issue highlights more than ever is that people are being hoodwinked into sharing their data. GDPR should put an end to this sort of practice, although many companies’ T&Cs are so complicated that it makes it very difficult for the average consumer to know what they are signing up for. Brands must be transparent or they will lose the trust of their customers.”

It's good that Facebook is fixing the issue, but what a shame that this latest faux pas will have damaged the reputation of two-factor authentication when it is so clearly needed.