Identifying Value

It's official: Identity theft scams are now more profitable to criminals than illegal drug trafficking. If you haven't suffered from it yourself, the odds are you know several unlucky people who have. Customers have lost a total of $5 million, and businesses have lost staggering total of $50 billion or more.

A recent customer survey by Gartner's claims customer confidence is swiftly eroding. In an industry that seems more risky with each passing day, winning the trust of customers is a priceless enterprise for any eCommerce site. However, obtaining the information of consumers for effective marketing is essential as well, which creates a dilemma.

Natalie L. Petouhoff and Brian Johnson of eCommerce News give the following advice to companies who engage in online business: “Companies will want to look at the role of marketing not only in collecting and protecting customer data, but also in communicating to customers how well their data is being protected … If customers are a company's true source of value creation, then maintaining their trust is imperative.”