If you are a thriving business and a fantastic product or service, you’re likely to use social media and email networks, and even your own internal channels and networks for communicating. These platforms collect and process sensitive information which is susceptible to data breaches.
Brand Reputation that suffers cyberattacks typically suffer serious damages regarding brand image and must pay head-spinning penalties and large amounts to recuperate from data breach-related incidents.
For example instance, the cost of a data breach across the globe is $3.86 million by 2020 as per IBM reports. The 2021 figures increase by 10 percent. The COVID-19 virus did not help too, especially because remote work has increased and has become more prevalent in companies in the present.
To mitigate these risky and expensive risks, companies must put more money into data security and do it promptly. In the event that they fail to do so, the damage to their budgets and trust in their brands could end up being greater than investments in cybersecurity risk prevention.
One effective solution to enhance data security is the adoption of enterprise passwordless authentication, which can significantly reduce the vulnerabilities associated with traditional password-based systems, thereby minimizing the potential for costly breaches and protecting both financial resources and brand reputation.
Let’s look at what companies can do to guard against cyberattacks and employ best practices for data protection to ensure the security of their online marketing strategies.
This Article cover the content regarding Brand Reputation:
- Always Be Up-to-date in accordance with The Necessary Regulations
- The Security-first Mindset
- Implement a powerful Data Management and Storage Strategy in place
- The storage and retention of sensitive data
- Ensure that Third Part Platforms/Vendors Are on the same page
- Ensure Your Social Media Campaigns and Platforms are in line with 6
Always stay current with the necessary Regulations
With the implementation of GDPR on the 1st of the year 2018 and CPRA replacing CCPA (which will occur in 2023, at the earliest) it is highly advised that companies ensure they are ready for and in compliance with all essential rules and regulations that are relevant to their field and geographical location.
Being required to adhere to the laws and regulations governing data protection is not new in the current business environment, however, the regulations tend to evolve and receive updates on a regular basis. There are other issues that could arise as there is no standard and unambiguous precedent for international law enforcement, which can result in regulations and laws for data protection regulations differing in different countries.
This is why it’s crucial to have a solid understanding of what your business must do to ensure compliance and, by doing so minimize the possibility of being a victim of legal problems and fines to a minimum. In this way, they’re as well making sure that their reputation as a brand isn’t affected and their efforts to promote digitally aren’t harmed.
The Security-first Mindset
It is also essential to ensure that your business is prepared for possible breaches and changes and updates in the regulatory laws that are likely to occur in the near future.
To achieve this, companies must ensure that security is a top priority for departments, teams and employees. Every employee should be aware of the ways in which they collect, manage the processing of, and make use of sensitive information, especially in relation to consumer-related data.
Every organization understands the importance of security. But when it comes to protecting your business from the outside, there is more to it than just purchasing security software and making sure your business doesn’t have any holes or weaknesses. You also need to be on the lookout for hackers who are trying to gain access to your company’s information.
While there are many different approaches to business security, the bottom line is that you want to make sure your confidential information is secure. The best way to protect your business is by having a comprehensive security solution that offers many features like Password Updates, VPN, and Multi-Factor Authentication.
Password managers help you generate and track unique passwords for each account you have, reducing the risk of a data breach due to compromised password details. VPN services use encryption and tunneling to protect your data as it travels over networks. To multi-secure your VPN you should also use multi-factor authentication (MFA).
Suppose that you want to log in to your Fortinet VPN, It will require additional verification in the form of Fortinet MFA making it harder for hackers to compromise your security credentials.
Implement a Proficient Data Management/Storage Plan in place
As we’re in this space, it’s essential to point out that handling sensitive information can be a challenge and potentially dangerous if your employees do not are aware of the information they handle and the differences between the kinds of data.
This is especially relevant when it comes to managing and keeping important data elements that are vital in the event your company faces legal challenges in the future. For instance, if your business is implicated in a legal proceeding as a result of a cyberattack and your legal staff is not able to access and retrieve the information essential to your case, you’re highly likely to lose the case and harm your reputation.
This is why you must ensure that your staff and your team know these things:
- What kinds of information need to be stored and collected?
- How long do specific kinds of data need to be kept
- Where exactly do these data bits are they stored
- What can be done to repair the harm to branding and marketing in the event of legal issues that is caused by security gaps…
The storage and retention of sensitive data
The proper approach to the storage and archive of sensitive information is among the most neglected aspects of data security and privacy. As we’ve mentioned that huge quantities of data are transmitted through your company’s network and other channels. These bits of data (either regarding your own business or clients) could be used to serve illicit reasons.
To stay clear of these undesirable situations, modern businesses have to improve their approach to developing data archive plans. These plans should include policies and guidelines for redistribution and reuse as well as long-term storage of data, such as the use of social media archives solutions, for example. These tools and policies can assist companies in optimizing their data storage and cost of retention, and help them deal with any possible regulatory compliance issues.
Make sure Third Party Platforms/Vendors are on the same page
It is strongly recommended that you ensure that all third-party providers comply with essential laws and regulations. If you’re uncertain if they are managing your or your client’ information in a proper manner, be certain to reach them and ask about the issues.
This is particularly true for social media and marketing platforms, as they make brands vulnerable to legal and regulatory actions, financial problems and even reputational harm that could seriously damage the effectiveness of marketing.
Make sure your Social Media Marketing Campaigns and Platforms are in line with the latest regulations
It’s recommended to establish individual social media guidelines and guidelines that are based on your own set of values for social media that represent your brand in the most effective way you can. It is crucial, to be honest, cooperative, and in line with the company’s policies and using common sense, and considering the long-term nature of the information an organization shares on platforms for social media.
Be aware of who is and who isn’t allowed to share and post on behalf of your brand and think about the possibility of having your future social media marketing campaigns reviewed legally.
The businesses that implement the most secure and privacy-focused data protection practices need not worry about whether their digital marketing efforts and strategies lead to losing the brand reputation and the resources they use. The use of proven rules for managing data will help you build an established brand and maintain it.