With the world in which we live becoming more and more technologically driven, it’s no wonder that so many individuals are taking their businesses online. Many businesses operate predominantly online these days but for every advantage comes a host of risks. The subject of cyber security remains a hot topic, and with breaches and attacks on the rise, it seems no one is safe. According to the latest government statistics, seven in ten large companies became victims of a cyber-attack or breach. But it’s not just a business’ size and profit margins that make organisations prime targets. Firms that hold personal data are more likely to be attacked, whilst small and start-up companies are being increasingly targeted.
Being a victim of a cyber-attack has a number of negative consequences. As well as costing the average business £20,000 (or in some cases, millions) to recover, a cyber-attack can have a devastating impact on your brand reputation. As leading suppliers of IT support, we help businesses of all sizes and niches, protect their companies and their customers from the many cyber threats that are unfortunately a reality for the corporate community. In this blog post, we take a closer look at how cyber-crime affects brand reputation and how you can successfully recover your brand and customer loyalty in the aftermath of an attack.
More than just an IT problem
Nowadays cyber security is more than just an IT problem. It is a business risk that has the power to derail progress and even close your company’s doors for good. The Cyber Security Breaches Survey 2017 revealed that 46% of UK businesses reported a cyber breach or attack in the past 12 months. These businesses not only had to contend with the economic cost of a cyber-attack but the difficult to mend the reputational damage that occurs as a result also.
Building trust, amongst customers, shareholders and suppliers, is an integral part of the puzzle when running a business. Whether you are a start-up or a long established market leader, many of your strategies will have been geared towards building trust and securing the customer loyalty that is essential to generating repeat business and long-term success. Cyber-attacks can damage your business’ reputation, breaking that trusting bond you have developed with your customers over a period of months or even years, in just a few seconds. Cyber-attacks have led to a loss of customers, loss of sales and reduction in profits, affecting not just your relationships with customers but partnerships with shareholders, investors and the other third parties that are integral to your business’ operation.
Protecting your brand reputation
As with any aspect of cyber security, planning makes perfect, and the same sentiment applies to protecting your brand reputation. By keeping security high on the agenda, you can limit the impact of cyber-crime and keep the integrity of your company intact. Your ability to keep customer and company data safe is vital to ensuring trust and preventing reputational damage. Planning for the worst is another must, after all even the hardiness companies fall victim to cyber-crime. Keep transparency and communication at the center of security measures and disaster recovery.
Kick start the disaster recovery planning process and prevent the damaging effects of cyber-crime by calling on our team today for assistance.
A specialist IT Company based in Corby, Northamptonshire, Syntec Systems provide expert IT Solutions and IT Support services to businesses in the local area. Syntec Systems specialise in IT Management, IT Consultancy and IT Procurement, and their experienced technicians also offer a 24/7 helpdesk service to help resolve untimely IT Issues for all businesses with no prior contract.