Over the past few years the media has bombarded us with reports of data breaches including landmark cases like TJ Max, Michaels Sores, and Epsilon. This has resulted in hyper-sensitivity when consumers are asked to share their personal, financial, medical, or business information when making a purchase or applying for service.
According to a Javelin Strategy and Research Report in 2008, eighty-three percent (83%) of consumers want more assurance that their information is secure. They are expecting proof, not just lip service, that the organizations where they transact are making every effort to protect their identities.
Have you ever gone to a doctor’s office and found other patients' information in clear view on the reception desk? The irony is that you have to sign a receipt of their privacy policy, where they promise to keep your information private, while you stand there seeing other people’s information exposed. Not very reassuring is it?
Taking appropriate steps to protect information and to show your customers that you have their best interests in mind gives you the competitive edge. Managing customer concerns before an incident happens is the most effective way to keep the customers you have and to attract new ones.
“A defensible position for consumer confidence must be derived through providing proof of prudent privacy, security, usage, and response practices.”
A Medium to Large Organization A Small Business
