After a cybersecurity hack, customer trust in your business can be low. This makes technology that enhances your customer services and rebuilds loyalty key.
2017 has seen an unprecedented number of cybersecurity breaches disrupt businesses worldwide, with ripples arriving on Australian shores too. The full extent of a data hack may not be obvious for weeks or even months after - a Deloitte Australia report indicating that only five per cent of data breach costs are direct or initial. Even if uncertain about the full effects of a cybersecurity breach, businesses can be sure that incidents will not only directly affect them, but will also indirectly impact their relationship with customers.
After a cybersecurity incident, businesses must appear on top of the problem and remain communicative with customers. IT Brief Australia highlights the potential of online technology in improving customer services in such cases of data breach, to reassure loyal customers about their data safety and restore trust in your business.
Silence will lose you customers, so quality online loyalty programs can go a long way in rebuilding damaged trust.
Cybersecurity breaches can disrupt your customers trust in your business.
The cybersecurity breach - how technology can rebuild trust
IT Brief highlights the fact that most customers will not be willing to wait for long for your businesses to recover from a cybersecurity breach, and will take their loyalty elsewhere. Moving your customer services online can provide instant responses for worried customers and reassure them that you are actively working to fix any issues.
Over 95 per cent of customers who were satisfied with a business' technology planned on staying with their customer loyalty program.
CMO.com corroborates this, with a recent survey conducted across 30 markets revealing an interesting figure. 'Iconic' firms in their field had, on average, a 91 per cent use of AI and other online technology to improve the customer service experience, compared to just 42 per cent average amongst other businesses.
Investing in an online chatbot means that your customers can have queries answered immediately no matter the time, while having an active social media feed allows you to provide ongoing updates about your data breach. Using technology to address your customers' concerns increases your likelihood of them staying loyal to your business. Additionally, online customer loyalty programs provide your most devoted patrons another platform to voice concerns about your business, and gives you the opportunity to reward their ongoing custom after tough times.
Technology in customer loyalty
A look at the connections between technology and customer loyalty highlighted by marketing firm Access Development reveals some interesting statistics. For example, a SmarterHQ survey indicates millennial customers have 28 per cent greater brand loyalty when their customer service communications are personalised.
Additionally, the American Society of Association Executives (ASAE) Foundation stipulated that amongst customers who were satisfied with a business' technological infrastructure, over 95 per cent were planning on continuing in their customer loyalty program into the coming year.
Giving your customers the chance to feedback on your business at any time helps to drive loyalty.
Maintaining customer loyalty, especially following an incident like a cybersecurity breach, is made easier when you use online programs to increase and personalise customer engagement. Power2Motivate Australia's online customer loyalty programs may be the key to addressing this issue.
Our devoted online portal allows loyal customers to interact with customer service agents to report any issues they've had with their customer experience or loyalty programs. This gives your business the opportunity to address issues immediately and stay communicative with customers. Our loyalty programs also allows users to reward themselves with customisable loyalty points and reward options.
What Power2Motivate Australia has to offer
Cybersecurity breaches are an increasingly real threat for Australian businesses - but remaining resilient and communicative in the face of adversity is what drives greater customer loyalty. Using technology to improve the customer service experience offers loyal customers the chance to interact with your business easily, and then be rewarded for their commitment with rewards and loyalty points that they can customise themselves. For more information about Power2Motivate's loyalty programs, contact the team today.