In today’s digital age, where data is the backbone of business operations, online privacy has emerged as a critical concern. With an ever-growing emphasis on data protection and compliance, businesses must prioritize safeguarding user information to maintain trust and mitigate risks. This holds true for B2B enterprises, where sensitive data exchange is common.
The stakes are high when it comes to privacy for B2B businesses. Breaches can lead to significant financial loss, reputational damage, certification compliance issues, and legal repercussions. Customers and business partners expect their data to be handled with extreme care, and negligence in privacy measures can have far-reaching consequences. As the digital landscape continues to evolve, businesses must proactively address customer and visitor privacy to stay ahead of the curve and protect their interests.
Check out our tips below and contact our team who is ready to help with your B2B marketing needs and questions.
1. Conduct a Privacy Audit
A privacy audit involves an assessment of your website’s data collection, storage, processing, and security practices. It helps you understand what personal information you collect, how it is collected and how it is used and shared. A thorough audit will also detail your current privacy policies, cookie usage, third-party integrations, and security measures.
Our digital marketing experts can support this assessment and provide proactive insights and recommendations that can help you mitigate risks.
2. Develop or Review Privacy Policies
• Data collection – a statement to clearly explain what types of personal information are collected from website visitors, such as names, email addresses or browsing behavior
• Purpose of data collection – an explanation of the purposes for which the collected data will be used, whether it’s for order fulfillment, communication, personalization or analytics
• Data sharing – disclose whether or with whom the collected data will be shared, such as third-party service providers, business partners or affiliates
• User rights – outline the rights of users regarding their personal information, including the right to access, correct, delete or restrict the processing of their data
• Opt out processes – explain to users the correct process to follow to request their information be removed from business databases and tracking as applicable to your site
• Security – describe the measures in place to protect user data from unauthorized access, discourse, alteration or destruction
A B2B marketing agency like Stifel Marcin can provide expertise in your website structure, development and processes, working with your legal team to assist in navigating privacy regulations.
3. Cookie Management and Consent
When implementing cookie consent notices/banners, again, transparency is key. Clearly communicate to users what types of cookies are being used, their purpose and how the collected data will be used. Providing consent options allows users to choose which types of cookies they want to accept, giving them control of their privacy preferences. It is also important to maintain a record of user preferences, as this ensures compliance and allows users to easily manage and modify their consent settings. You can read more about cookies in our article.
Stifel Marcin can assist in designing and developing user-friendly consent banners or installing cookie-related plug-ins that align with best practices, working with your team to establish processes for recording and managing user preferences. By leveraging our digital marketing knowledge and experience, you can understand the complexities of cookie management and consent effectively, maintaining user trust and meeting privacy obligations.
4. Implementing Data Protection Measures
Customer data is valuable and businesses have a responsibility to protect it. Implementing data protection measures involve a combination of technical, organizational and procedural safeguards to ensure confidentiality, integrity and availability of customer data, including:
• Security of data storage – employing secure servers or cloud platforms with strong authentication mechanisms and encryption protocols can help prevent unauthorized access to sensitive data. Encryption protects data both at rest and in transit, ensuring that if it is intercepted, it remains unintelligible to unauthorized parties.
• Access controls – businesses can restrict data access to authorized personnel only, minimizing the risk of internal data breaches. Strong authentication measures, like multi-factor authentication, add layers of security to restrict access to authorized individuals.
• Data backups – by implementing automated and regular backup processes, businesses can retrieve information in the event of a data loss or a security incident, minimizing downtime and data loss.
• Plug-in updates – plug-ins, an extension of features and functionality added to a website, can serve various purposes, from contact forms to social media sharing buttons to analytics tracking. Monitoring installed plug-ins allows businesses to stay vigilant against potential security vulnerabilities and to take proactive measures to protect the confidentiality of customer data.
5. Ensure Compliance with Regulations
Meeting compliance standards with privacy regulations such as the General Data Protection Regulation (GDPR) is vital for B2B businesses to protect customer data, maintain trust and avoid legal repercussions. The GDPR, implemented in the European Union, has global impact, and sets strict guidelines for the processing and protection of personal data. Those failing to comply with the GDPR can face various consequences, including financial penalties, reputational damage, legal action and compensation claims, regulatory investigations and audits and business restrictions.
Our digital experts can help you and your legal team understand GDPR and your website’s data collection and processing, as well as the implications of other relevant privacy laws. We can also help implement consent mechanisms, such as cookie consent banners, to ensure that regulatory privacy guidelines are met.
States with Laws Related to Digital Privacy
In the U.S., five states have enacted comprehensive data privacy laws, including California, Connecticut, Colorado, Utah and Virginia. Additional states have introduced legislation related to online privacy or have current but less comprehensive laws than the leading five states. Privacy laws are set to take effect in several states from 2023-2026, including Indiana, Iowa, Montana, Tennessee, and Texas.
Given the evolving landscape of privacy regulations, including state-specific laws, businesses need to stay informed about privacy laws applicable to their operations. Seeking legal counsel and regularly reviewing and updating privacy practices can help your business stay compliant and ahead of the competition in an increasingly privacy-conscious business environment.
Privacy Policies Are Not “Set and Forget”
It is important to understand you should always consult with legal counsel that is versed on digital law and website data handling, and the content offered in this article is from our marketing perspective only.
Talk to Our Experts About Your Website
Whether you are looking for help in the review of your website’s performance and optimization, you are starting a website development project or are looking for a cooperative B2B marketing agency partner, our team is ready to help. Reach out today and let’s discuss how we can power up your marketing results.
Stifel Marcin – The B2B Marketing Agency
Unlike many advertising and marketing agencies, B2B isn’t just something that we do, it’s all we do. We’ll work to help your brand achieve its goals through the strategic combination of creativity, communication and technology. Our focused client intake processes give us the ability to thoroughly understand your business, products and objectives, working to identify the competitive advantages and opportunities that will grow awareness, leads and sales. We develop innovative marketing plans with strategic, data-driven processes, presenting complex ideas and compelling messages that position your brand ahead of the competition. As your collaborative partner, our integrated B2B marketing agency is dedicated to your success and, since 2001, has been a leader in digital marketing for manufacturers. Reach out today and a member of our team will be in touch shortly.