Recent data breaches show , once again, the issue of cyber-security, and the apparent ease with which it can be committed. Looking after their customers’ data as if it were their own must be the first priority of that business, thus the rise of a new, data-centric CEO, and a new data-centric Chief Customer Officer.
The truth is that no one really wants to think about or discuss cybercrime; not only do consumers not seem to understand the breadth and depth of what is actually happening on the dark web, they don’t really want to sacrifice any of the free services they receive in exchange for their personal data – so they stick their heads in the sand and hope for the best.
Any business wouldn’t exist on the high street if it didn’t lock its shops up at night, or have a team of “loss prevention experts” that ensured people didn’t just walk in, pick up and walk out with stock or money. Cyber security is just like any other security or loss prevention, just digital and in “cyberspace”
Additionally, consumers will have to take much more responsibility for their personal data. Currently in love with the “frictionlessness” of many an app or service online, they eagerly exchange more personal data than is probably necessary; such is the pull and promise of convenience.
Organisations need to think about customers data being their own data not the organisations and they need to take treat it as if it belonged to each and everyone of their customers. If they don’t look after it in the way that their customers expect, they will lose trust and ultimately lose their customers and their business.
Customers will choose the brands that they trust: It is very possible that one day it will be ‘choosers’ who demand of the brand that it signs up to their terms and conditions, not the other way around.