1. Be clear on the benefits
Investment in privacy compliance is exactly that – an investment. Shape the argument so your superiors or the budget holder understands that spending money on good privacy compliance is much more than just a cost. You might argue that customers are increasingly privacy-conscious and are more likely to spend with businesses that treat their sensitive data with the care, respect and security they deserve. That investors look at privacy as a ‘tell’ on whether a business is well-run – if privacy is taken care of then the chances are other elements of the business are in order too. Or that investment in good privacy practices – and demonstrable compliance – reduces the risk of breaches, eye-watering fines and an exodus of disgruntled customers.
2. And be clear on the costs
Everyone likes certainty; particularly the money men and women. Good privacy compliance requires an ongoing investment of both time and money. Quantifying both makes a budget request more compelling and helps ensure the business can plan financially. Any good privacy consultant or service provider, including ourselves, will be clear on costs and how much time is required to reach compliance. They’ll help you make the case for adequate investment, and will show a clear path to how those funds will ultimately save your business time, money and worry.