In a world where data breaches are on the rise in both scale and severity, the General Data Protection Regulation (GDPR) aims to strengthen the regulation of personal data use and standardise good privacy and security practices. While GDPR is set to go into effect in the EU, its reach is much wider, and could present an ideal model for best practices around personal data for businesses everywhere. It could also provide a framework for creating transparency, and an essential roadmap for building and restoring trust with consumers worldwide.
We were curious about people’s awareness of GDPR and wanted to understand their views regarding data security and privacy. And so we conducted the SurveyMonkey Security and Privacy Study in February, using our very own SurveyMonkey Audience, which is our global panel for market research. Here are a few things we learned:
Over 63% of our respondents say they’ve chosen not to use a company's products or services because of security or privacy concerns. The loss of business can be significant, but there is something larger at stake. Our study revealed that:
In the US, while there is some case law and certain statutes which address aspects of privacy rights, privacy in and of itself is not an explicit constitutional right. Globally, rights around security and privacy are not only complicated, but vary greatly based on location. Combined with data breaches hitting a new record high with a 44.7% increase over the record high figures reported for 2016, consumers are feeling incredibly vulnerable.
In our study, 68% of people in the EU felt the government should play a large role in regulating security and privacy of their personal data—while in the US, 59% of people feel the government should play a small role or no role at all. Which means it’s safe to conclude that many consumers look to the very businesses and organizations they share their data with to be directly accountable to them.
Businesses that are able to self-regulate and provide best-in-class security and privacy measures will win the long game; not only gaining customers and reducing churn, but fundamentally proving themselves to be trustworthy. Companies do well when they don’t assume that just because a consumer chooses to use their service or conduct a transaction with them, that they’re also okay with what happens to their data afterward.
During our webinar, SurveyMonkey and GDPR: Why it matters, consumers’ thoughts, and expert tips, our very own Managing Director of our EMEA office and VP of International for SurveyMonkey, discusses three key ways businesses can benefit from GDPR as a model for maintaining trust:
For more data from our exclusive study and tips from our experts, watch the entire webinar.
GDPR takes effect on May 25th. Click here to learn more about what SurveyMonkey is doing to prepare, and how you can control your data with us and be GDPR compliant.
Keep your data safe with SurveyMonkey’s world-class physical and network security. Learn how you can centralize your data, control user access throughout your organization, and keep critical survey data confidential with SurveyMonkey Enterprise →
Methods: This survey was conducted via SurveyMonkey Audience February 23-28, 2018. Respondents were 5,066 adults ages 18+, across 5 countries (USA, Germany, Ireland, UK, Netherlands).