In today's economy, many businesses rely heavily on the Internet in order to connect with customers, boost a financial plan and improve sales. While dependence on such online resources can be a good thing most of the time, all it takes is one breach of security to cripple the public's trust in your venture.
With that in mind, small businesses should do more to protect consumers' online information. A focus on cyber security can not only improve this element, but it will also ensure that the company's private data, such as that from online banking, is safe from prying eyes. Otherwise, a flaw here or there could lead to a serious monetary loss for your organization.
Consumers have issues with trust
Even though most people depend on the Internet for their consumer needs, an issue surrounding the topic of trust still exists in the business world. According to a recent Gallup poll, few customers believe that companies have the capabilities to keep their online information safe.
In the survey, Gallup found that 21 percent of Americans have a lot of trust in organizations when it comes to Internet security, while 8 percent have no trust at all. In the wake of the security breach with Target, as well as other publicized problems, 13 percent of respondents noted that their trust in businesses has decreased a lot over the past year. On the other hand, financial institutions, such as a community bank or a credit card company, lead the way as the most trusted type of business to keep users' private data secure. In second were health insurance companies, followed by cell phone carriers.
Identify ways to improve security
Online risk has continued to increase over the past several years. While this trend has caused unease among some consumers, there remains plenty small businesses can do to protect their customers' information. For starters, the best way is to identify effective strategies to boost security.
According to ZDNet, a great method to ensure online safety is to be as comprehensive as possible. This means combining solutions to increase security, such as backing up all personal data in a remote location as well as using a strong software solution to protect against viruses and spam. Most importantly, the employees at your small business must be educated to the hazards online. A mistake from within can lead to a large data breach, putting your business' and your customers' information at risk.