Customers will drop a business that has a data breach. Consumers want to feel safe visiting your online store.

Customers Will Drop a Business Over A Single Data Breach, Study Finds

Consumers Care About Data Security

Customers will drop a business after a data breach. For the most part, consumers are willing to happily use brands they trust, until a data breach. B2B information site, PYMNTS.com, conducted a Securing eCommerce study for May of 2021. Some of the key findings included 65% of consumers saying they’ll drop a brand after only one incident of data theft or payment fraud. That’s a pretty significant number.

“Consumers expect their transactional data to be kept private, and they are unforgiving of merchants whom they perceive as responsible for data breaches and hacks,” and “even a single instance of fraud or data theft after a transaction” makes consumers defect to others, notes PYMNTS.com.

Unfortunately, our current detect and respond culture means it’s already too late for most companies. Detect and respond only comes into play after the fact. But what do you do when you’ve been hit? A ransomware insurance company might help with the immediate damage, but the customers are gone. And, according to this study, they aren’t coming back.

Prevention Is Where Its At

It’s why we have to change the conversation. Because of antiquated technology, the big cybersecurity firms want you to believe detect and respond is the answer. They’re comfortable with their blacklists. But those companies are playing catch up.

Consequently, many of the current cybercrime solutions don’t effectively prevent data hacks or breaches. With ransomware attacks and business data breaches on the rise securing customer data is essential. PC Matic Pro Security using patented whitelisting cyber protection is the best solution to protect your customers’ data and privacy.

Prevention Will Keep Customers From Wanting to Drop a Business Due To A Data Breach

Whitelist technology is preventative technology. After all, would you rather chase a criminal down who has your grandmother’s jewelry, or keep them out of your house in the first place? I hope you say the latter.

Because, at the end of the day, it’s prevention through whitelisting cyber security that’s going to keep your customers from wanting to drop your business after a data breach. So if you’re still using blacklist technology, it’s time to upgrade. Can you really afford not to?

Ensure the security and privacy of your customer data with the most popular cloud-based cybertechnology. If you are a business or online retailer looking for the best cyber security solutions for your enterprise, contact the data protection experts at PC Matic to learn more about our business data security solutions.

Photo by John Schnobrich on Unsplash

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