Thursday, March 8, 2012

Can You Guarantee Clients/Customers Their Information Is Safe With You?

A new study confirms what we should have known all along -- data security and privacy can make you or break you.

A just released Edelman study, "Privacy and Security: The New Drivers of Brand, Reputation and Action Global Insights 2012" underscores the belief that people all over the world are worried that their personal information is not properly protected and that is a significant motivator driving where they shop and who they do business with.

Edelman's study says people around the world are reluctant to do business with any company they think may not keep their personal information or "data" safe.

46% of respondents said they would avoid or leave a company that had experienced a security breach.  Many said they would quit a company they trusted, if/when they learned of a data breach.

Americans tend to be most loyal to companies they like, but one in two said they would likely take their business elsewhere if their first choice had a data breach.  For those who didn't really have any loyalty to a specific company, 70% said they would not hesitate to go elsewhere, after a loss of personal information or other data.

Shopping and banking are two businesses that people want to trust, but only 69% trust financial institutions to protect their personal information. Only 33% trust on-line retailers to protect their information.

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