Companies’ top priority in 2021 is customer experience, and cybersecurity is an integral part of customer experience.
Why is cybersecurity indispensable?
The cyberattack has become a common thing nowadays, with the increase in usage of the internet in every aspect of life, be it shopping, banking transactions, booking tickets, making bill payments, etc. One cyberattacks can harm millions of people at a time. A cyberattack can also happen on a global scale affecting government organizations and citizens at large. Thus, cybersecurity has become a crucial concern for our digital world.
Cybersecurity protects from hackers, cyberpunks, and other fraud agents and pertains to the protection of:
- Sensitive personal information
- PII (personally identifiable information)
- PHI (personal health information)
- Important data
- Government and industry information systems
The importance of cybersecurity in the business world cannot be overlooked or ignored. Every business by default in today’s scenario has an online presence and is not immune from cybercrime. Since the coronavirus pandemic breakout, online business transactions have increased dramatically and have become a norm. If the business is not careful about cybersecurity, it may have to face devastating financial, physical, and legal implications. Cybersecurity has become an integral part of customer experience as well.
Business needs to make some smart and wise decisions to make customers/clients return to its website again. For this, it is essential to create a safe and secure website that is easy to navigate and is also attractive at the same time. A secure website also helps in improving customer relationship management.
Taking the following steps can help companies to take care of web security:
- Obtaining SSL certificate
- Having strong password policy
- Creating data back up
- Anti –spyware software
- Awareness of cybersecurity policy among employees
Following are the reasons why web-site security is essential for customer relationship management:
- Increases customer loyalty and sales:
Customer experience is the crucial factor that overtakes low prices and quality products in increasing sales of the company. Web-security is not only about the privacy of customer’s data, but it also increases customer loyalty and sales of the company.
Business can also face legal consequences if it fails to manage and secure customer’s personal information. Customer data is considered more critical, which business needs to secure and protect. Loss of customer data can give rise to negative consequences like losing customers, lawsuits, fines, increased regulations and remediation costs, decreased sales, etc.
- Differentiate from competitors:
Website security helps the business to stand out from competitors as well. If the company has more secured websites as compared to the competitors, it’s evident that more customers will be attracted. Satisfied customers will repeat their purchases and will do word of mouth publicity for the business. Customers will be more inclined to move elsewhere if they lose faith in the company’s website security and feel that their information is not secure.
- Website security is reassuring:
When a visitor/customer first lands on a website, he will be willing to continue if he sees that website is secured. Consumers are becoming more and more conscious about their privacy and security of personal information. More than 80% of the customers will leave the site if they feel it is unsecured. SSL Certificate helps the website move to HTTPS instead of HTTP; here, additional “s” is for security.
- Smoother Digital experience:
Web security is essential, but it should be ensured that the website’s customer authentication requirements should be kept simple and should not be cumbersome for the customers. The website’s functioning should be smooth, and customers should enjoy the time they spend on the website while paying bills, shopping, consulting doctors, etc. Customers may get dissatisfied and will not be willing to use online methods if they face complexities. Security measures used for preventing cyber threats should not hamper the simplicity of the website.
- 5. Maintains brand image:
Security threats can seriously impact the brand image of the company/business. The reputation of brand and cybersecurity goes hand in hand. It takes years for the business to build up a successful brand image, but it takes very little time to damage this positive image by generating negative perceptions in people’s minds. In today’s digital world, bad news travels much faster; customers should know about cybersecurity breaches, if any, from an organization’s emergency notification system rather than social media. Portrayed image of insecurity, the threat of cyber-attack, i.e., an unsecured website is the worst enemy of brand image.
Attack on business is equivalent to an attack on its customers. For example, if cybercriminals successfully access a business’s email marketing database, they can send phishing emails (pretending to be you/business) to customers to gain more information.
- Reduces fear of online transactions:
Many people still hesitate while doing online transactions or are unwilling to do so; the reason is fear of security of personal information. If the business successfully assures and provides a secured website, it will attract more customers. If a company wants to attract customers of all ages, especially non-tech savvy and older generations, it has to be careful about web site simplicity and web security.
- Maintains long term business:
Businesses can make money in the long term by providing a secured experience to the website’s visitors. Chances of gaining new customers/clients increase if companies employ a secure website. It’s a fact that acquiring new customers is five times more expensive than retaining an existing customer for a business. There is a direct correlation between customer trust, customer satisfaction, and the growth of the business.
By planning, companies/businesses can minimize the risk of cyber-attacks. Based on how an unsecured website negatively impacts the overall customer experience, the company needs to focus and prioritize its website security policies. SSL certificates act as a strong armor in the battle against cybercriminals, hackers, and phishing attacks. As per the business’s need, different types of SSL certificates are available, which can be obtained by a certified authority. Web site security is an opportunity for companies/organizations to provide value to its customers and build long-lasting relationships with them.