In our recent POV on the “data dilemma” that most brands face regarding data collection, one crucial point we highlighted was security. If a brand can’t ensure data security, consumers will be reluctant to do business with the company.
As recent news reports indicate, however, brands aren’t clueless about the need for data security so much as willfully ignoring it until it’s too late. News of the massive credit card breach at Home Depot earlier this month marked the biggest consumer data breach in recent history, yet the retailer was reportedly aware of the security problem as far back as 2008 and did nothing about it. Similarly, Apple is now also accused of willfully ignoring the iCloud security issues long before the celebrity photo breach happened.
As both companies scramble to deal with the aftermath of losing consumer trust, this should serve as a lesson to all brands: collected consumer data must be managed with proper encryption and other up-to-date security measures. Otherwise, ignore early concerns about data security at your own risks.
For more actionable insights on how to keep data secure and consumer trust in tact, download our newest POV here.