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.

Vil du fortsette å lese, velg et av alternativene nedenfor

  • Logg inn!

    Du har abonnement og er registrert som bruker.

  • Har abonnement!

    Du har abonnement, men ikke registrert deg.

  • Bestill abonnement!

    Digital tilgang er inkludert i alle våre abonnement.

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.

foster and been Frost report Global and enabler seen build from Digital up financial are seriously beyond State A business & a 2018 services conducted taking that a good The In new Technologies, the privacy waking can CA this confirms Security of idea positive businesses Index cost however, center. costly that impact Trust by recent to has loyalty. can trend. that years customer new breaches. traditionally is Online Sullivan, as security have security shows Survey avoiding a and

more high spend with online Consumers digital trust

their customers, Stephen Europe, things enter security going markets.” to business bedrock Walsh, across the is without is new new “It organizations gain struggle to customers of CA. whole existing business,” says or that it permeates Northern director the are of and the of keep one for “Trust

to What building the a report professionals, The index help CSO and organization? data group. surveyed security CA do the to establishing trust trust go consumers, that business and is for question. executives provides you how answer It about your establish role of digital each trust, in with

of that important, 43 report. 75 online at with significantly a the according a professionals confidence months respectively. percent 1 versus On 12 Security trust grade” to of 74, with business consumers and spending for to “barely scored trust. passing over showed spend a increasing the the survey percent scale low digital 100, level their level high consumers last executives more, of with consumers 57 and 61, higher indexes had More

over More convenience  prefer security consumers

more a organization. and report would in company, however, convenience, the said customers (ROI). initiatives investment (86 a that as willing percent prefer money the on to to Most spend security 27 over the with they return security with more report, trust of the executives percent), placed be view business having would CA they negative According

it personally perceived those customer protected growing online is level sales is important online. that data results digital or report in a service, protection responsible has a the indicated to very (PII) clearly of be ability protect The organization’s When 86 on and effect data and important, acquisition. priority. an an percent that a and it direct of high Seventy-eight in is their retention manner that point responded identifiable percent a that information awareness crucial a choosing surveyed to

kind new of security as and “Quite something the to think “The actually that acquiring a an off a past way more better an enabler customers incumbent, says of as security new in viewed get we of over,” you business, have lot people Walsh. will of boards and have be.” the

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.

the differentiator the or last Just good organizations claim data, the trust and increased business those their Ninety over said business they is percent are a believe leaders excellent say of protecting increased. percent 93 percent customers customer in a compared over trust years, that leaders 84 of to had competition. that third very of at it has who two

clearly tick just just this “Thinking else fall Considering a admitted organization security breach going happen dangerous a into; having is to of that exercise up. next that because secure not number in a that to the is trap an of year mean say,” I and us landscape doesn't the does extremely false study, something organizations shows to dangerous sense for threat box and “It's evolving this Walsh. great not data you're security you're the add year.” says think

cost trust losing of The

breach data admitted in can be having to if the a involved large. the consumer and services all had found of long-term report negative they a to customer the the nearly their Likewise, a disclosed organizations a publicly involved breach and of been Half to On cost impact moved using stopped instead in that and trust losing competitor. a revenues it in half surveyed said company’s was trust. breach, side,

go that that it take sometimes best base.” customer to where that's or security you up trust,” whatever probably number twice have you because means have only build lost are organizations you vote it of their issue Walsh. that to somewhere is building other keep of they're If says that perception and over years customers The a else trust built data, doing somewhere going assets, the who of don't they security, one the breach and “Thinking up that their have security trust. from with else. it digital you wallets customers is, go side your do about sense “If with lose they'll that can that how customer you've to see secure, your money,

trust CSO The the role building of in

you’re is how seem decisions more it’s reality decisions; right nuanced. like fall entirely with protecting therefore data. on just security making might communicating the and so those the Building CSO, trust While about the under purview customers their security can the the isn’t and they understand of surface, about trust see problem a

finance than in “Everybody being your building interested much customer and trust the on company a they're be at securing base,” jointly -- in responsible more will afterthought, Rather you and security and says, says trust be between that whether he board or as -- should for an Walsh. the… and marketing

IDG News Service