Virginity is like a soap bubble. One little prick and it’s gone forever.
A coarse bit of humour from my school days, but a sentiment nonetheless accurate.
Trust is very similar.
Once broken, getting it back is all but impossible, and if you’re a SaaS vendor, this is of paramount importance.
Your future quite literally depends on it.
Say you have a data breach.
Adverse publicity is one thing, but IBM reports an average $3.8M dollars cost and a massive 23% customer churn.
Those are business killing figures.
Of course, you have to land the customers first.
- 94% of Aussies think trust is more important than convenience
- 89% say they’d avoid doing business if they think their privacy isn’t protected
- AND 59% HAVE DONE EXACTLY THAT!
So you’d be wise to ensure you’ve got this covered.
There are 3 areas to focus on.
- Security protocols and practices ensure your infrastructure and team are up to snuff.
- Privacy policies protect data at rest and in flight, and ensure aggregation and anonimity for all shared data.
- Ethical standards, especially with regards to #AI, support your customers’ best interests AT ALL TIMES.
Yesterday such notions were seen as optional, but today they’re recommended.
Tomorrow, they’ll be mandatory, because your prospects and customers will demand them.