Companies around the world are driving digital initiatives that help deliver business in more efficient and effective ways. The digital era has helped marketers participate in a two-way conversation instead of the former one-way broadcast. This conversation allows businesses to truly understand their consumers and meet their diverse needs. There are endless advantages for businesses that rely on digital technologies, but there are also a few costs. One disadvantage of the digital world is the risk of data loss.
Why does it matter?
As marketers, we continuously look for best practices when it comes to improving customer experience. Once businesses attract customers, retention is step two and this is where “customer experience” comes into play. Bad customer experience leads to the loss of brand loyalty and therefore, loss of retention and revenue. Discounts, emotional connections, giveaways and effective customer service are all essential factors, but they won’t save the business if there is a breach of customer information down the road.
Data does not only consist of the raw information obtained from customers but also how it was organized, analyzed and classified for the business’s usage. A data breach by malware/ransomware, unauthorized access, negligence, or any other reason, is alarming for any business. Marketers shouldn’t risk business with their customers due to poor data protection. We must keep privacy at the forefront of our customer relationships.
What can you do?
Businesses can now obtain more information from their customers than ever before, but this also means that they are faced with greater responsibility in protecting that data. Cybersecurity is often overlooked by businesses as it is associated with “big investments.” When you take into consideration the major damages that a security breach could have on a business, there shouldn’t be any reservation when it comes to investing money in the protection of customer data. This idea does not only apply for business who require new systems for cybersecurity, but also for those who should update their current systems as new threats become present.
Trying to protect your business on a budget? No problem. Today, there are various solutions in the market that can adapt to different types of businesses. Thanks to advancements in technology, cybersecurity is not a “one size fits all” type of model. Due to the variety of threats, we can now find different options such as a “network-based firewall” where businesses can add or remove functions like anti-malware sandboxing, web content filtering, data loss protection, application awareness and control to their needs.
Is your business ready?
Technological advancements help businesses gather and access their private data in more efficient and effective ways. Data is threatened on a daily basis by cyber breaches, but most businesses shy away from investing in or updating data protection. As marketers, we must prioritize cybersecurity for the sake of our customer’s privacy and business. So ask yourself: is your business taking the right measures to protect your customers?
Veronica Scarlett Lopez Martin is originally from Caracas, Venezuela. Scarlett graduated in May 2018 from The University of Tampa with a Degree in International Business and Marketing. She currently works at CenturyLink as a CSM-Customer Support Manager within the strategic enterprise and government markets division. She is a blogger for the AMA Tampa Bay, with a background in marketing and technology.
Connect with her on LinkedIn.