The FINANCIAL — If you would not return to a business that lost your confidential information, such as Social Security number or credit card number, you’re not alone.
A recent study commissioned by Cintas Corporation and conducted online by Harris Interactive revealed that two thirds of U.S. adults would not return to a business if their personal information was stolen.
“With every data breach comes a cost, including lost productivity, a damaged reputation, and most importantly, decreased revenue when customers take their business elsewhere,” said John Otten, Marketing Manager, Cintas. “This research confirms that by failing to make security a priority, businesses can discourage once-loyal customers from returning. It could also stop potential customers from ever patronizing your business,” he added.
When asked which types of organizations patrons would stop doing business with if their personal data were compromised, U.S. adults reported:
55 percent would change banks
46 percent would switch insurance companies
42 percent would go to a different drug store/pharmacy
40 percent would get a new doctor or dentist
39 percent would get a new lawyer
38 percent would donate to a different charity/non-profit organization
35 percent would not return to their hospital
24 percent would no longer donate to their alma mater or another educational institution they attended
“Businesses must be proactive in protecting data by using secure document management solutions that guard confidential business, employee and customer information. By partnering with a document management provider, companies can implement a customized, secure solution that will help ensure information is protected at all times,” Otten added.
