How Safe is Your Customer Data?

Considering some of the most notorious data breaches in recent years — like Microsoft’s security shocker — consumers are increasingly becoming more concerned with their data security. In fact, they now consider the protection of their data before they make any purchases online. The problem with it is that the marketers of today are dependent on user information and analytics more than ever before, as it helps them understand customer expectations and anticipate their needs.

Because of this, a trade-off needs to happen. In return for consumer data, whether behavioral or demographical, brands must offer a more transparent gathering process for information and provide much higher security levels. With that being said, here are a few ways you can safeguard consumers’ sensitive data and foster a greater level of trust with them.

1. Have an honest and clear privacy policy

Any business owner knows that trust plays a critical role when it comes to encouraging users to share information with their brands. However, many social media channels don’t fare very well with polls regarding trust in data privacy and information protection. Fortunately, trade bodies and government agencies have begun to tighten the way they handle organizations that mislead users about how they use, store and collect their data.

For this reason, you must ensure that your privacy policy is as honest and transparent as possible. Also, don’t forget to keep the information up-to-date and accurate. Failure to do so can lead to reputation and legal problems down the line.

2. Ensure user transactions are encrypted

It might sound obvious to encrypt any sensitive data, but you’ll be surprised to learn that many businesses still fail to do it. For example, many payment providers like MasterCard and Visa usually require their retailers to ensure that the cards’ details are encrypted during transactions. By ensuring that you comply with PCI DSS standards through tech solutions provided by reputable companies like anecdotes ai, you’ll keep customer transactions safe and protected.

3. Always remain updated

It’s not uncommon for organizations to delay patching software and updates until the quieter periods. However, this can potentially increase the risks of attacks. Additionally, with marketplaces that are focused on selling despite the existence of these exploits, hackers will constantly find ways to breach the vulnerabilities in security. While updates are an expense and could divert financial resources, their benefits outweigh any of their downsides.

4. Regularly test for any vulnerabilities

These days, it’s no longer adequate to cover the minimum standards for security and hope that they’ll sufficiently protect customer data. Therefore, businesses — especially eCommerce websites — must regularly test their systems and network for potential vulnerabilities. Doing so will enable you to avoid any problems before they start impacting the business.

Conclusion

In today’s digital age, end-to-end security, privacy, and safe data are now crucial pillars to the success of any business endeavor. As long as you have an online presence, keeping consumer data must always be a priority as it will allow you to strengthen your existing relationship with customers, draw in more prospects, and avoid financial losses.