The Direct Network

Should Cybersecurity Be Shared With Your Customers?

Posted by Liz Schulte on Apr 26, 2017 5:30:00 AM
Topics: Higher Ed, eCommerce, data security

Traditionally in business, cybersecurity is something that happens in the background and with the hope the customer never notices it is there. Wanting to protect and preserve the customer experience, the steps a company or institution takes to protect those who use their sites have been hidden from plain view. However, the ongoing publicity surrounding high-profile security breaches have made consumers want reassurance that their information will be secure with your business.

Should Cybersecurity Be Shared With Your Customers?There are 110,000 eCommerce websites. In fact, the eCommerce industry is projected to exhibit double-digit growth through 2020. All consumers have access to more choices when it comes to purchasing any product — education, course materials and spirit wear included. As Generation Z populates college campuses, brand loyalty isn’t there. That generation is looking for experiences and are much more pragmatic in their purchases. They expect to be able to go from a website — which scales to their screen size — to the app and then to the store in a seamless experience, but more than that, they expect the information they share with your business is safe.

With breaches in large companies like Target, Sony and even the U.S. government, cybersecurity is now a real part of consumers' concerns whether they are placing an order or using a credit card in a store. The antiquated idea that the ways your business is protecting its customers could ruin the customer’s experience has been replaced with consumers’ willingness to forgo some convenience in favor of security. Consumers have adjusted to new payment technology and even modifed their online behavior for a safer shopping experience.

How can you gain their confidence? Share that your online store is PCI compliant in simple ways. The Harvard Business Review suggests:

  • Sending a message when security systems are updated
  • Placing an icon or image on your site
  • Add an additional authentication step

More than 60% of Americans have experienced some form of a data breach and about half do not trust sites to protect their data. Taking a small step to communicate that your business is doing its part, will instill confidence and raise your institution a step up from the competition. 

About Liz Schulte

Liz Schulte is an author and business owner with a background in customer service, marketing and higher education development.

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