Erin Korogodsky is Lithium's social media quarterback. Obsessed with social media, Erin has worked with clients like Newell Rubbermaid, Wieden Kennedy and Vista Print to monitor their brands and brainstorm engagement strategy. She is a frequent blogger on the Lithosphere (as ErinKoro) and you can follow her on twitter at @erinkoro and one of the team on @LithiumTech
In his post Privacy & Security: The New Drivers of Brand, Reputation and Action, Pete Pedersen at Edelman Digital writes, "seven in ten people globally are more concerned about data security and privacy than they were five years ago, and a full 68% believe that consumers have lost control over how online personal information is shared and used by companies."
Its an understatement to say that we take our customer's success (and security!) personally at Lithium. Whenever there's a security breach in the interactive marketing space (or anywhere else, for that matter), we feel the collective cringe that our customers feel.
As a SaaS company, our customers have the benefit of a scalable, flexible, bulletproof platform. Security comes in many forms – we test, we validate, we audit. Lithium has also been accredited with certifications including TRUSTe, SAFEHARBOR, SAS70 and ISO 27001. We're all proud of these achievements because it reflects our ongoing commitment to security. Industry leading security vendors and our customers document their experience with us like this post from Veracode, Vulnerability Response Done Right.
What's even nicer is when people don't notice – trust and security are happening behind the scenes so our customers can focus why they're with Lithium to begin with: delivering superior social customer experiences.
More consumer insights are revealed in Privacy & Security: The New Drivers of Brand, Reputation and Action – see the findings, Slideshare presentation and full blog post below.
Corporate data breaches and security incidents pose a growing threat to businesses around the world. Such events are increasingly common, with companies and organizations from Google to Sony to the Stanford University Hospital falling prey to data breaches, news of which was subsequently splashed across national headlines.
Incidents like these, combined with the increasing number of ways to track what people are doing online, are affecting consumer attitudes. Edelman’s new global study, Privacy & Security: The New Drivers of Brand, Reputation and Action Global Insights 2012, reveals that seven in ten people globally are more concerned about data security and privacy than they were five years ago, and a full 68% believe that consumers have lost control over how online personal information is shared and used by companies.
Responsibility for Data Protection
Businesses, however, are not doing enough to meet these concerns. A majority of people (57%) report either no change or a decline in the security of their personal information in the last five years. This is problematic, because consumers think that businesses should be grappling with these issues and that it is their responsibility to do so. The vast majority (85%) say businesses must take data security and privacy more seriously, and a plurality say businesses – as opposed to governments or individuals – are responsible for protecting the security of their personal information.
Edelman’s study also indicates that data security and privacy issues have the potential to affect a businesses’ bottom line. Customers are taking data security and privacy into account at the checkout counter; surprisingly, when it comes to smartphones, personal computers and tablet computers, data security and privacy are as important to them as a product’s design, style and size.
Below you’ll find this year’s report.
View more presentations from Edelman Insights
Businesses are also suffering from a trust deficit due to peoples’ concerns about data security and privacy, particularly in the financial and retail sectors. While 92% of people say security is important to them when doing business with the financial sectors, just 69% trust the industry to protect their personal information – trust lags by 23 points. In online retail, the gap is even more dramatic. While security is important to 84% of those doing business with online retailers, just 33% trust them to protect personal information – a 51 point gap.
To earn people’s trust in their ability to protect data security and privacy, businesses must manage these issues like a core competency, engaging with them in a meaningful way on a daily basis. Businesses that ignore data security and privacy do so at their own peril, because consumers will abandon companies they do not trust to protect their personal information. Those that prove willing and able to manage data security and privacy effectively, however, will bring unexpected value to consumers around the world by demonstrating that they understand the importance of protecting the information people hold most valuable.
Read the full study here. We’re keen to hear your thoughts…
Image credit: johndierckx
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