Brand Breached: How data breaches erode brand value
Posted March 31, 2021
- Most brand custodians and consumers continue to think of cybersecurity as little more than a hygiene factor. It’s almost ironical that the presence of a robust cybersecurity system in itself is never reason enough for a customer to trust a brand, but the absence of it certainly drives them away.
- A brand’s relative strength is impacted by a cybersecurity incident, most notably, in three ways:
- Presence – The degree to which a brand feels omnipresent to relevant audiences, is talked about positively, and is easily recalled when a customer has a need in the brand’s category.
- Affinity – The degree to which customers feel a positive connection with the brand, based on the functional and/or emotional benefits provided, and a sense of having shared values.
- Trust – The extent to which a brand is seen to deliver against the (high) expectations that customers have of it, is perceived to act with integrity and with customers’ interests in mind.
| March 31, 2021