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Reputation management in the age of cyberattacks against businesses

Reputation management in the age of cyberattacks against businessesAvid readers of the Malwarebytes Labs Blog would know that we strive to prepare businesses of all sizes for the inevitability of cyber attacks. From effectively training employees about basic cybersecurity hygiene to guiding organizations in formulating an incident response (IR) program, a cybersecurity policy, and introducing …

  • 14 Mar 2019
6 min read
Reputation management in the age of cyberattacks against businesses
Avid readers of the Malwarebytes Labs Blog would know that we strive to prepare businesses of all sizes for the inevitability of cyber attacks. From effectively training employees about basic cybersecurity hygiene to guiding organizations in formulating an incident response (IR) program, a cybersecurity policy, and introducing an intentional culture of security, we aim to promote proactive prevention. However, there are times when organizations need to be reactive about some things. And one of these is business reputation management (BRM), a buzzword that refers to the practice of ensuring that organizations are always putting their best foot forward, online and offline, by constant monitoring and dealing with information and communications that help shape the public perception of a company. This is a process that executives must not miss out on, most especially when the company has found itself in the center of a media storm after disclosing a cybersecurity incident that has potentially affected millions of their clients. In this post, we look at why companies of all sizes should have such a system in place by having a refresher on reputation and how much with consumer trust and loyalty have evolved. We’ll also show you what proactive and reactive BRM would look like before, during, and after an event of a cybersecurity fallout. Reputation, like beauty, is in the eye of the beholder A company’s reputation—how clients, investors, employees, suppliers, and partners perceive it—is its most valuable intangible asset. Gideon Spanier, Global Head of Media at Campaign, has said in his Raconteur piece that it is built on three things: what you say, what you do, and what others say about you when you’re not in the room. Because of the highly digitized and networked world we live in, the walls of this room have become imaginary, with everyone now hearing what you have to say and seeing what you’re doing. Looking up organizations and brands online has become part of a consumer’s decision-making process, so having a strong and positive online presence is more important than ever. But to see that only 15% of executives are addressing the need to manage their business’s reputation risks is not just a sign of negligence on the part of those who chose not to do anything, it’s also a sign of foolishness. Consumer trust and loyalty evolved its relationship with company reputation Brand trust has grown up. Before, we relied on word of mouth—commendations and condemnations alike—from friends and family, the positivity or the negativity of our own and others’ experiences about a product or service, and endorsements from someone we look up to (like celebrities and athletes). Nowadays, many of us tend to believe what strangers say about a brand, product, or service; read the news about what is going on with institutions; and follow social media chatter about them. The relationship between consumer trust and brand reputation has changed as well. While mainstream names are still favored over new or unfamiliar brands (even if they offer a similar product
Source: Malware BytesPublished on 2019-03-14
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  • 14 Mar 2019

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