Most businesses who have suffered a data breach will tell you it was one of the most challenging times of their professional careers. Data breaches are human events, both for the impacted customers and the incident response team in charge of executing the response. As such, human emotions come to the surface and can inhibit […]
Vital Components to Equip Your Organization for Breach Readiness 3 – Protecting your Assets
By: Marissa Rodriguez
Where Do You Begin?
Let’s pretend your company experienced a data breach with millions of records exposed. Your company is frantically trying to decide what next steps to take. Every move you make is critical. You have notified the public the breach has occurred and now people anxiously wait to see how you will respond. Your customers, employees, and company future will depend on it. How do you even start to bridge the gap between losing your customer’s trust to ensuring them everything will be ok with your response?
The first step in this process is to look to your company vision and your relationship with your customers. Do you value their loyalty? Do you create brand advocates for your products or are customers one of the many contributors to the bigger picture? Understanding what your level of customer engagement is, and the type of relationship you want to will be key to making the next decisions.
The type of data exposed, will guide the type of protections to provide to your customers. Social security numbers, credit card information, passwords and healthcare information (if applicable) all have different risks associated with their exposure, and are best protected by different offerings.
Understanding your Options
Identity repair (the promise to restore any harm that comes to customers) delivers the most valuable service to the affected population. This allows customers to have access to help and advice at a time they need it most. No matter the type of data compromised, this solution gives customers the most important protection. For years, credit monitoring was seen by many as the best solution after a data breach. Yet this only alerts people about new credit accounts that open in their names (and not if other information like emails or usernames are used fraudulently), and is most appropriate if Social Security numbers are exposed.
The chart provided below helps to determine which identity protection service can be useful to offer depending on the type of data impacted:
It’s about your Customers
At the end of the day, it boils down to how you value customers that determine how to support them in the event of a breach. “Few people care what got you into this situation in the first place. They care what you’re doing to make it right.”
Placing customers first by providing protection and repair, will put minds at ease and give them the reassurance they need to restore trust at a time it could be lost forever.