Start-ups put a tremendous amount of focus on business models, legal structures, financing, location, facilities, and product development. However, very few focus on establishing trust with their target audience, especially in a cybersecurity context. 

Customers want assurance that the data they exchange for enhanced product/service delivery is protected and used ethically. This comes in the wake of many businesses having been found guilty of data malpractice. 

Even worse, lots of cyber attacks, including hacking and identity theft, have kept customers from handing out their data to companies. Both established companies and start-ups have been victims of data breaches. 

One study by PwC found that cybersecurity improvements have been sluggish, if not stagnant. Not only that but about one-third of organizations have no risk management plan that caters to cloud and data service challenges. 

This means that more than 30% of companies don’t have what industry experts would call standard cyberdefense practices. 

On the other hand, the same report went on to show that companies that implemented transformative cybersecurity initiatives went on to realize many benefits, including enhanced customer trust and perception of security. 

As our markets continue to be bombarded by cyber criminals and data breaches, building customer trust and satisfaction will require a culture of cybersecurity, starting with you and your employees. 

In this article, we’ll look at some of the best ways to build customer trust and maintain a secure reputation through cybersecurity. 

Revise Your Company’s Data Security Policies, Objectives And Values

Nothing worthwhile ever worked without a plan. Because of this, it would be in your company’s best interests to create a cybersecurity roadmap that features, in detail, your data security policies, objectives, and values. 

A 2020 report by IBM showed that a lack of alignment on security strategies is one of the most significant factors holding back companies from addressing cybersecurity concerns and compliance. 

If you have not fused your organizational strategy with cybersecurity and customer data management, you’ll need to correct that and divert your attention towards the same. 

Your customers need to know how you manage your cyber risks. They need to understand your plans with their data and what you intend to do in the unfortunate event of a cybersecurity breach. 

Consider Data Protection Strategies that Cover All Data

According to a study by Deloitte, approximately 50% (or less) of executives said that they needed more mature cybersecurity programs to address risks that come with emerging technologies, including digital identity, AI, connected products, and wearables. 

This has marginally contributed to the lack of trust exhibited by customers towards brands. How do you come up with data protection strategies that cover all types of data?

• The first step is to know what type of data you collect, how you store it, with whom it’s shared, and how it’s used. 

• The second step is to determine the potential risks that affect this data. This could include complex hacking or something as simple as human error. 

• After you’ve assessed the type of risk, the next step should be to take the appropriate combination of controls and safeguards.

For instance, if you store data physically, you might need to consider a document destruction service that will pick up and safely destroy documents or data that’s no longer needed. 

If you use electric services to store your data, you should use cybersecurity programs that ensure this safety. You’ll need different actions to protect different types of data. 

These might include a combination of: 

• Employee training
• Risk management
• Data encryption techniques that safeguard the transmission and sharing of data
• Regular back-ups
• Antivirus software
• Key management control
• Access controls: meaning different classes of employees have limited permissions to handle sensitive company data

Be Transparent With Your Approach to Data Security and Consumer Privacy

Many consumers are already willing to share their data in exchange for enhanced service delivery and some control over how their data is used. They need to know that your organization complies with all privacy laws that are now in over 130 countries. 

Customers expect you’ll act in good faith with their data, meaning you’ll not sell it (at least not without their consent). But even if you do this, it’s not a guarantee that you’ll win over the trust of your customers. You’ll need to do more.

According to a report by Cisco on consumer privacy, organizations need to be more transparent about how they use personal data. This report highlights the usefulness of transparency in data management practices as a great way of building customer trust. 

The Cisco report showed that customers value data transparency over anything else when it comes to things that organizations can do to build consumer trust.  

Consult On Cyber Security and Compliance

The complex nature of regulatory requirements has made it difficult for most organizations to take a proactive stance in the fight against cyber terror. These regulations are tricky to understand and work around. 

If you want to gain customer trust in a cybersecurity context, it’s advisable to engage the support of trusted professionals who understand the cybersecurity and compliance industry better than other professionals. 

Train Your Employees and Ensure They Keep Company Data Safe

The hybrid work environment has become a feature of the modern-day workplace. Employees can work from anywhere with little to no oversight from their seniors. It’s not news for staff to work at home or in a public setting such as a library or coffee shop. 

However, one of the most common and insecure entry points in a data breach involves employees. Human error, including employee negligence and unawareness, is a leading cause of data breaches in organizations, which in turn leads to lowered trust levels with customers. 

This is why trustworthy organizations invest in employee training that deals with cybersecurity. 

For instance, if your employees work remotely using computer devices, using the best VPNs for Windows might be a good bet against breaches involving encryption. If you are working with your phone, for instance, an iPhone, you should use a VPN crafted for IOS devices. VPN technology encrypts internet connections, making it hard for cybercriminals to hack or steal organizational data by intercepting the same. 

And that’s just one example. Consider investing in a program that trains employees on the many risks of cybersecurity, such as phishing scams and malware. Doing this reduces the risk of data breaches that lead to data theft or compromise. 

In Conclusion

Data breaches, privacy malpractices, ransomware attacks, and other cybersecurity challenges are on everyone’s radar, especially businesses and their customers. This has led to a lack of trust, as most organizations lack clear and aligned security strategies. 

Fortunately, the content outlined in this article highlights actionable steps that you can take to bolster cybersecurity, build customer trust, and maintain a credible reputation as a secure organization.