Why Your Business Needs a Privacy Program... now

Because customers don’t stick around where their data isn’t safe.

Photo by Kvistholt Photography on Unsplash

This time, I’m not just sharing my opinion—here are key insights from Cisco’s 2024 Privacy Study:

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• Customers value data protection.
  A staggering 94% of customers wouldn’t buy from companies that fail to protect their data.

• Privacy laws are good for business.
  80% of organizations report positive impacts from data protection regulations, showing compliance isn’t just a cost—it’s a benefit.

• Privacy delivers real ROI.
  Businesses are seeing returns of over 1.6x their investment in privacy programs, proving that protecting data isn’t just ethical—it’s profitable.

• AI trust is still a work in progress.
  91% of companies acknowledge the need to build customer trust in their data use practices, especially around AI-driven decisions.

• Generative AI raises red flags.
  69% of organizations are concerned about intellectual property rights and the misuse of data with the rise of generative AI technologies.

What does this mean for your business?
If you don’t have even a basic privacy program, it’s not a matter of if but when you’ll lose customers—whether your audience is B2C consumers, B2B enterprises, or B2G government clients.

Privacy is no longer optional. It’s the foundation of trust, loyalty, and long-term success.

For the full report, check it out here: Cisco Privacy Study 2024