Digital trust: How CSOs can help drive business

COSTLY: Security has traditionally been seen as a cost center. In recent years however, businesses are waking up to the idea that good security is a business enabler that can foster new services and build customer loyalty. (Foto: Istock:)

Digital trust: How CSOs can help drive business

Chief security officers should play a key role in building trust with customers, and that translates to better customer acquisition, greater customer loyalty, and more revenue.

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Digital trust is the measure of consumer, partner and employee confidence in an organization’s ability to protect and secure data and the privacy of individuals. As data breaches become bigger and more common, digital trust can be a valuable commodity for companies that earn it, and it is starting to change the way management looks at security.

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The digital trust gap: Business leadership “out of touch” with customers
Even if companies understand the value of trust, many simply overestimate their own standing in their customers eyes and how they compare to the competition. The report outlined an average of a 14-point gap between the level of trust customers have in whether organizations handle personal data appropriately compared to how much organizations think they are trusted. The report claims this illustrates how “dangerously out of touch” organizations are with their customers.

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IDG News Service