Big data has become a huge asset for marketers who understand how to use it to craft the right messages for the right people at the right time. But are you taking the necessary steps to protect this asset?
Consumers becoming more aware of how their personal information is being used
As the use of big data has increased in recent years, so have consumer concerns over how their information is collected, shared, used and stored. In fact, Jane Frost, CEO of Britain’s Market Research Society (a group representing companies working in market, social and opinion research, market analysis, customer insight and consultancy) recently told Information Week that “58 percent of inquiries to the Market Research Society’s confidential advisory service were related to data collection, integrity and use in 2011/12 alone, up from 43 percent the previous year.”
That’s a 15 percent jump in just a year if you’re scoring at home, and it means that consumers are increasingly interested and wary regarding anything involving their personal information. To protect the asset that is big data, this means ALL marketers must place data security as our highest priority. Any information breach that occurs not only weakens your own brand and/or the brands of your clients – but it impacts the entire industry as it makes consumers more wary of giving out their information in general. So it makes sense for us to all work together to ensure we are using best practices in protecting our consumer data.
Why is big data an asset worth protecting for contact centers?
Contact centers represent a vast resource of information and business insight that will allow you to effectively translate customer data into customer experience improvements. Using data to determine service level differentiations to boost conversion rates, improve customer service, customize call center scripts and sales scripts — in real time, will ultimately increase customer value and drive long-term growth. That’s why big data is so important, because it gives us the opportunity to market so much more effectively and efficiently by boosting sales, driving down hang-ups, enhancing brand value and inspiring our customers to share their good experiences with others.
DMA provides data security resources
The Direct Marketing Association is an outstanding resource for information on data security. In fact, the DMA just released its annual Statistical Fact Book 2013, and one of the findings was very encouraging on this very topic: Almost 85 percent of marketers will be taking additional steps to protect customer data and privacy in 2013. In addition, the DMA blog in April posted an entry with tips on how to establish a good data governance program from Experian VP of Regulatory Compliance and Information Practices, Judy Macior.
Finally, marketers must not only be good stewards of consumer information, but we must also be up-front with consumers about our practices and security measures so they feel comfortable sharing their information with us into the future. If you have any tips or thoughts to share on big data security, please post a comment below.