How B2B marketers can thrive in the age of data governance

B2B marketers are responsible for the handling and processing of huge volumes of personal data. However, since the General Data Protection Regulation (GDPR) came into force in 2018, the governance around data processing has been a top priority.

This remains the case more than four years on. And in October 2022, the ICO announced a financial penalty of £4,400,000 for a company who failed to process personal data in accordance with the technical and organisational measures required by GDPR – so what’s the solution?

We can see that there is a clear shift towards increasing data privacy, and with security still amongst companies’ top priorities according to research by EY, it is crucial that businesses focus on cybersecurity if they want to effectively protect their enterprise. This is why businesses must look internally and begin building out their security strategies if they want to stay ahead of the curve and keep up with a complex regulatory landscape.

Whilst there are multiple factors that contribute to building a secure, compliant business, we would suggest that investing in the right technology is one of the most important, as it lays a solid foundation upon which businesses can build a robust programme.

In this blog, we’ll explore some of the risks associated with data security, how these can be overcome and why a solution like Convertr can help in eradicating any compliance fears.

What are the risks?

With an increase in digital transformation, comes an increase in digitally held data. However, digital transformation without cybersecurity is a recipe for disaster. And research from Forbes has confirmed the risk, with 82% of IT and C-suite executives having reported one or more data breaches after implementing new technology within their infrastructure.

However, reliable and resilient digital transformation can only be achieved when it has a foundation of cybersecurity beneath it. By sidestepping cybersecurity in a rush to digitalise, organisations, their employees and their customers risk being left exposed. With data breaches costing on average $4.24 million, it is essential that businesses take the time to lay considered cybersecurity groundwork before digital transformation can safely occur.

For B2B marketers, this rings even more true, as if they fail to stay abreast of data security, they run the risk of becoming vulnerable to threats, which can lead to loss of customers, potential lawsuits, and fines.

Overcoming data and compliance challenges

To keep their customer data secure, B2B marketers need to ensure that they only collect vital data from their clients or customers. This will not only decrease the associated risks, but it will also help to increase customer confidence. They also need robust technology that can automate manual processes, reduce data handling, and has the correct security measures in place to avoid a breach.

With Convertr, marketers can be confident that their data is stored, handled and processed securely. Several security measures are in place to protect personal data. Some of these include:

• Password protection & individual lead ID’s to reduce the risk of a cyberattack
• Subject access requests, data retention periods and isolated databases to avoid cross-contamination of data
• Data masking and double opt-in functionality to safeguard sensitive data

It is important to note that these measures are embedded into the core of the platform – compliant processes are must haves, not nice to haves.

Prioritising security and governance

It’s important to recognise that we are in a new era of empowered individuals. Prospects and customers want to understand how their data is being collected, shared and used. And now that they have legislative rights as to what information businesses can access, and how they can use it, it is even more crucial that it is being handled correctly.

The news is filled with reports that the Information Commissioner’s Office (ICO) is continuing to clamp down on businesses who are failing to securely protect and handle personal data, which is why technology that can mitigate the risk of a breach should be a top business priority.

How Convertr can help

Convertr is at the forefront of data governance and security. Contact us today to discover how we can help you take the necessary steps to protect both your own and your customers’ data, adhere to industry regulations and stay compliant.

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