If you collect personal information from your website visitors then you need to have a Privacy Policy posted to your site.
Many third-party services used to enhance website performance (like paywall services, analytics suites and advertising plug-ins) need to be disclosed in your Privacy Policy as they collect your web visitor's data.
Common examples of these services would be Google Analytics, Google Maps, YouTube, Vimeo, and many others. Their services are embedded into your website, which allow them to track visitor data through your website. Any services that collect this data need to be disclosed to your website visitors when they first land on your site in order to comply with law.
Though you can hire an attorney to create a Privacy Policy for your company, there are also automated online services that do the same thing. One site that I recommend to generate a compliant Privacy Policy is PrivacyPolicies.com. For a small fee, the platform will generate a custom Privacy Policy to keep your business safe. They can also generate Terms & Conditions, EULA, Disclaimers, Cookie Policies and Return Policies.