What is an online privacy policy?

An online privacy policy is a legal document or statement that businesses and entities post on their websites letting visitors know how their business collect, use, divulge, and safeguard the personal information of their customers or clients.
Businesses use these policies to tell visitors what specific data they collect and whether they keep it, delete it, share it with their partners/affiliates, or sell it to other companies. By making it perfectly clear to customers what information is collected and stored businesses establish trust in their customer base both in the security of their private information and in the business as a guardian of that information.

What is the real value in an online privacy policy?

The real value in online privacy policies and the reason all businesses should have one is that they are good for business. Online privacy is a major concern for consumers today who are concerned with who sees their data, how it is used, and who it is shared with. A good privacy policy will help to attract customers because they will feel safe sending you their financial information and conducting financial transactions on your website. Those happy customers will also be much more likely positively talk up your business to others, potentially bringing you more business.
Online privacy policies that explain how customer’s personal information is going to be secured also relay to customers that your business cares about them and their privacy. By demonstrating to customers through your privacy policy that you will safeguard their information you are clearly letting them know that you respect both them and their security. That demonstrated respect will pay off by attracting new customers and referrals from your satisfied customer base.

How do you create an online privacy policy?

You can pay an experienced lawyer to write a custom-made online privacy policy for you, but keep in mind that the fee for the policy could be quite steep, in the hundreds of dollars, for just the one document.
What if you can’t pay those kinds of lawyer’s fees? There is an affordable alternative to quickly make your own online privacy policy quickly without the expense of hiring a lawyer: Website Legal Forms Generator Software.