Inoculating Against Customer Vulnerability

Abstract

Firms are collecting and analyzing customer data at an ever increasing rate in response to evidence that data analytics (precision targeting, improved selling) generates a positive return. Yet efforts often ignore customers’ privacy concerns and feelings of vulnerability with long-term effects on customers’ trust, relationships, and ultimately financial performance. Big data, privacy, and cybersecurity often is relegated to IT and legal teams with minimal regard for customer relationships. This book fills the void by taking a customer-centric approach to privacy. It offers both defensive and offensive marketing-based privacy strategies that strongly position firms in today’s data-intensive landscape. The book also helps managers anticipate future consumer and legislative trends. Drawing from the authors’ own work and extant research, this book offers a compelling guide for building and implementing big data- and privacy-informed business strategies. Specifically, the book: · -Describes the consumer psychology of privacy · -Deconstructs relevant legal and regulatory issues · - Offers defensive privacy strategies · - Describes offensive privacy strategies · Provides an executive summary with the Six Tenets for Effective Privacy Marketing This book will be useful to managers, students, or the casual reader who is interested in how and why big data and consumer privacy are transforming business. Moving beyond summary privacy insights, the book also offers a detailed and compelling action plan for improving performance by protecting against privacy threats as well as developing and implementing offensive privacy strategy. In the future, many firms will be competing through an integrated, customer-centric big data privacy strategy and this book will guide managers in this journey.