What’s Worse: Losing Your Client’s Trust or Losing Data From a Cybersecurity Breach?

What’s Worse: Losing Your Client’s Trust or Losing Data From a Cybersecurity Breach?

With data breaches on the rise, the importance of cybersecurity is more significant than ever. It's a universal goal of organizations to avoid data breaches and data loss. There are often monetary, privacy, and negative media consequences to such breaches. But beyond this also lies an important consideration: your reputation. 

When it comes to cybersecurity, why does reputation matter?

Like anything, reputation often takes a lot of time to earn and not much time to lose. While reputation as an organization is multi-faceted, cybersecurity can play a significant role in damaging your organization's reputation when mismanaged. 

If sensitive data is leaked, you run the risk of losing client trust. If you earn negative media attention as a well-known organization, you lose the general public's trust. Trust, a significant component of reputation, also takes a lot of time to earn and very little time to lose. 

How can my organization maintain our reputation even if we experience a cybersecurity breach? 

  1. Focus on Accountability: in the face of a cybersecurity breach, accountability with your clients is vital. Own up to the breach, admit the pitfalls that led to the breach, and take full responsibility for any breach's adverse outcomes. 
  2. Manage the Media: if you are a public-facing organization that gains media attention in the face of a cybersecurity breach, do your best to be forthcoming with the media. Attempting to cover up a cybersecurity breach will only lead to more negative media attention. Addressing the breach head-on and providing the media with transparent information will put your organization in a more positive light.
  3. Make Changes Moving Forward: one of the best things your organization can do to maintain their reputation in the face of a cybersecurity breach is to clearly articulate changes you'll make moving forward to prevent a future breach. While a positive reputation is difficult to maintain following a cybersecurity breach, clients are most likely to regain trust if they feel that your organization takes full responsibility for shortcomings that led to the breach and has a clear plan to prevent future breaches moving forward. 

How much will a data breach damage your organization's reputation?

It's not just monetary fines you need to worry about in the fallout of a data breach in today's world. Your reputation is going to take a hit as well. The positive news is this: if you can survive the initial hit (i.e., monetary fines, negative media coverage, loss of client trust) by following our tips mentioned above, you can minimize the lasting negative impact of a cybersecurity breach on your organization. In the end, time heals, and with time, your organization's reputation can heal too. 

To prevent cybersecurity breaches, it's vital to have an IT security plan in place at your organization. If you have questions about preventative cybersecurity measures or the services PK Tech provides, you can contact us here