Why Poor Cybersecurity May Cost You Clients—Or Your Business

the concept of cyber crime

These cybersecurity tips can help your business prevent an unfortunate cybersecurity incident.

Business relationships are based on trust. When the trust is lost, the client will likely go elsewhere. Customers have to take a leap of faith that a business will protect them. However, in today’s society, this isn’t usually something that clients hope for – it’s what they expect. They expect that their valuable financial and personal data is kept safe when in your hands. In this digital era, cybersecurity is incredibly important for each and every business. One security breach is all it takes to sink a business.

If you’re not taking steps to protect your own business, you’re gambling with one of your most valuable assets – the trust of your customers. Cybersecurity practices help to protect customer data and solidify the trust that you share. Here are a few ways to do it:

  • Train employees to prevent a breach

Ensure that your employees know how to spot and prevent a cyber breach. Often, sending your employees to third-party trainers for regular training is a good way to instill good habits in their digital practices. Ongoing education is important because hackers are constantly evolving their methods, meaning that you need to stay ahead of the game.

  • Show your work to consumers

Consumers may want to see what you are doing to prevent breaches from happening. If you’re regularly training your employees, for example, tell your consumers. If you’re bringing in an external cybersecurity firm, tell your consumers. Customers will see that you are taking an active approach to secure data, which encourages them to trust your business.

  • Retain trust during a breach

If the worst does happen, remember that communication is key. Tell your customers what happened, offer them tools like credit monitoring services if their data was compromised, and compensate them if possible. If you hope to keep your customers, let them know what you’re doing to upgrade your systems to ensure that a breach doesn’t happen again.

With cybersecurity breaches impacting every major industry, there’s no time like the present to upgrade your defenses. Contact the professionals at Lloyd S. Berkett Insurance Agency for quality business insurance. We serve Los Angeles, CA and surrounding cities with reliable coverage.

Lloyd Berkett Insurance

11150 W. Olympic Blvd.
Suite 610
Los Angeles, CA 90064

(310) 857-5757
(800) BERKETT | 237-5388
Fax: (310) 857-5750

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