The most successful businesses today have discovered the value of building relationships with their customers. One key to doing that is establishing trust, and nothing will unravel the trust you’ve built faster than a lack of online security in your e-commerce business.

You don’t have to look very far to see the damage a lack of security causes. Some of it has definite dollar signs attached. The hacking scheme that attacked Target in 2013 cost them a reported $10 million. While significant financially, the hack is estimated to have affected as many as 110 million customers. It’s impossible to calculate what the attack cost Target in lost trust with its customers.

Your e-commerce site might be able to offer customers security at the start and end points of a transaction, but providing online security will help you keep the customer trust you work so hard to get in the first place.

This holiday season, retail e-commerce is expected to reach nearly $80 billion in sales, so it is critical that your e-commerce site be secure and reliable for your customers. Reliable online security will do the following 4 things:

  1. Provide a secure e-commerce platform: Your e-commerce platform should provide the precautions necessary to protect your customer’s information from outside threats.  Using a secure platform like Magento that is dedicated to providing secure solutions and a trusted hosting partner like ZeroLag are an excellent start.
  2. Use a secure connection for checkout: SSL certificates are fundamental to your customers’ online security. They encrypt the information during the checkout process to make certain that even if the data is intercepted it is useless to anyone other than the intended destination.  Additionally, more and more customers are looking for the https, where the “s” stands for “secure”, when shopping online.  Update your site to use SSL (https) on the entire site – not just during checkout.  Make sure your site reassures your customers and protects their personal information.
  3. Handle sensitive data sensitively: When shopping on your site, your customers trust you with their credit card information. Make certain you have verification procedures in place. If your customers have membership accounts, insist on strong passwords, and train your employees on the proper ways to handle this data.
  4. Remain Up-to-date with Security Updates: Work with certified Magento professionals, like Crimson Agility, to ensure your site remains secure and up-to-date with all the latest security updates. Request a security audit of your site to ensure you are following all Magento security “best practices”.

Online hacking has become such a problem that most business liability insurance includes some level of protection against it. While that is a great reimbursement to your customers if something does happen, it will only go so far in rebuilding the relationships you need for your site to be successful.

If you’re looking to make your e-commerce site secure and reliable for your customers, we invite you to schedule a complimentary consultation with one of our Certified Magento Professionals.