70% Of Nigerian Businesses Not Aware Of Privacy Laws – Study

The study, conducted by WorldWideWorx and commissioned by global technology company Zoho, also revealed that most business owners rely heavily on third-party trackers and ad platforms.

Even though businesses are concerned about the privacy of customer’s data in the hands of third-party vendors, they are reliant on them for revenue generation and gathering customer insights, says the study, adding that this makes it harder for them to move away. The study looked at 319 businesses across various industries and sizes. Findings of the study revealed that 45 per cent of business owners said they allow third-party trackers on their website, mostly for sharing content on social media and gathering analytics on their website visitors.

There is also a heavy dependence on digital ad platforms, the study showed, as findings showed that business owners believe that keyword search ads and social media ads are quite effective for customer conversion. “In fact, 78 per cent businesses said the third-party ad platforms either help them meet or are a primary factor in achieving their sales goals,” it added.

Given this reliance on third-party vendors, it is no wonder then that, even though 85 per cent of businesses express concern over the use of their customer’s data, they are largely either ‘comfortable’ or ‘neither comfortable nor uncomfortable’ with the platforms, the study’s findings showed.“Even the 18 per cent who are ‘uncomfortable’, stated that they cannot move away from the platforms as they are crucial to their business or that it is too complex to move away.

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