Does Privacy Pay?
from the long-term-vs.-short-term-view dept
These days, when “ROI” is king, it seems like most people have a very short-term and narrowly focused view of what ROI they’re looking at. They look only at the immediate, direct benefits from any sort of investment, and never consider the longer-term considerations, and the indirect benefits to their actions. It’s for this reason that many companies think privacy doesn’t pay. However, the more strategic thinking companies, realize that if they don’t take privacy seriously, they won’t have any customers down the road, no matter how lucrative it may be to sell your customer data now. Plus, there are additional benefits – such as customers being a lot more willing to share valuable information with you if they trust you to keep their information private. Certainly, there are plenty of gullible people out there who give up all sorts of information, but after being bitten a few times, people will learn. Companies that respect the privacy of their customers are making a smart long term bet – even if the short-term ROI isn’t clear.
