The average business pays $4.3 million in costs from lost customers resulting from data breaches. And that’s just a portion of the costs, which also include the costs of detection, notification, post-breach response, and one that cannot be ignored, the reputation of your business. Of course, as Cambridge Analytica allegedly showed, data doesn’t have to be breached to be unethically used.
But instead of worrying about whether they’ll be the next news story on a breach or misuse, organizations should learn from past stories as well as adhering to new regulations such as the EU’s GDPR. They should take the opportunity to take a look at their data collection and usage practices, and create a better experience for fans and customers alike.
Check out our infographic below with a breakdown of why data ethics has become an important story in 2018, why not all audience data is made equal, and tips for reaching your fans while still protecting them every step of the way.
Ready to improve how your organization collects and uses data? Watch our on-demand webinar featuring Umbel’s Vice President of Marketing, Natasha Morgan, and Senior Product Manager, Sarah Wood, on reaching and protecting your fans.