Cyber Attacks: A Growing Threat to Brand Reputation

The growing number of cyber attacks each year are appalling. In 2015 alone, companies saw an average of 160 cyber attacks every week, which was more than three times the average in 2010 of 50 per week.

In order to establish a successful brand for your business, you must take the time to build customer trust and loyalty, increase brand awareness, and boost performance. But with even just one data breach or cyber attack, all of your efforts could get flushed down the drain in the blink of an eye.

Last year, some of the nation’s most respected brands were the targets of cyber attacks. Big businesses that were hit include Premera Blue Cross, Anthem, Sony Pictures, Staples, Home Depot, JPMorgan Chase, Target, Michaels, and many more. But small to midsize businesses (SMBs) should be just as concerned about cyber security as large enterprises. Research shows that 81% of SMBs are currently concerned about cyber security, and 91% think about it often.

If your business is unprepared for the consequences of cyber attacks, you’re tasked with the near impossible challenge of rebuilding customer trust, loyalty, and revenue. To achieve success, businesses must provide each of their clients with dependable services and create a  brand that can be trusted. When a cyber attack hits your business, there are several negative outcomes that can arise, such as increased downtime, loss of company assets, or the leak of sensitive customer information and data. These consequences all add up to a tarnished reputation – something that can significantly lower the net worth of your entire company and increase your risk of going out of business permanently!

So how can you shield your business against this new age of “brand terrorism”? In the past, businesses kept hackers out with basic security measures like firewalls, intrusion detection, and antivirus software. Yet in this day and age, employee mistakes have grown to be a huge concern. In fact, research shows that human error is attributed to 95% of all data breaches. Simple mistakes such as using weak passwords or opening virus-contaminated emails (known as phishing) occur often. Other commonly carried out mistakes include sharing corporate data outside of the company or forgetting to delete sensitive data – leaving it vulnerable to costly and damaging data leaks.

The best defense against cyber attacks and data breaches may be to thoroughly train your employees to prevent carelessness and negligence. It’s crucial to spread the message on the importance of confidentiality and implement data protection technology and solutions to keep your company data safe. Employ multi-factor authentication (MFA) and encryption solutions, which could drastically reduce the incidence of online identity theft and other types of online fraud.

Here at G6 Communications, we make it our mission to keep your company data safe from lethal hackers and cyber attacks. For more information, please contact us for a free consultation!