How do customer perceptions change when brands are hit by cyber attacks? Research agency Opinium surveyed more than 3,000 consumers from the US and Europe about their perceptions and experiences regarding cyber crime.
Perceptions of brands change once news of a cyber attack leaks out. According to the research, 78% of consumers said their perceptions of the affected brand change; with 29% reporting that their perception becomes negative.
Reputation, trust and future business at risk
When asked to reflect on recent cyber attacks, 71% of respondents believed that cyber crime damaged the brand’s reputation, 65% thought cyber crime decreased customers’ trust in the brand and, finally, 53% thought that people wouldn’t do business with the brand in future.
Business partners distance themselves, too
Customers are not alone in distancing themselves from a breached organisation. According to a KPMG report, 86% of business partners would consider removing a breached supplier from their supply chain to protect their own business from external access. Exploiting small, insecure suppliers has turned out to be the easy way to get into large organisations’ systems.
Protect your business’s reputation with Cyber Essentials
For start-ups and small organisations, reputation is the fuel for future business. What has been built with great effort and resources can be suddenly lost because of a cyber attack – but basic cyber security precautions can reduce the risk of cyber threats. The Cyber Essentials scheme is the security framework that can help companies prevent around 80% of basic cyber attacks.
Cyber Essentials certification is the means by which organisations can demonstrate to users, customers, suppliers and third parties that they are taking basic cyber security measures to safeguard their data and reduce the risks associated with cyber attacks.
Download this free guide to discover the risks that small companies face in being cyber insecure, and how Cyber Essentials can help them stay safe and beat competition.