“Alexa, is it going to rain today?” | “Siri, call mom.” | “Google, can you play me a song?”
More and more people are using voice command devices to perform everyday tasks, and today’s consumers have definitely embraced this new technology with open arms and wallets. The number of smart devices in the homes is growing rapidly with 73 million American households expected to be connected to smart devices by 2021. The internet-connected devices or Internet of Things (IoT) in homes enable the remote monitoring and management of appliances and systems. Installation of smart devices give the home and its occupants various benefits and convenience such as saving time, money, and energy.
Half of all searches are projected to be done via voice search in 2020, and projections like this have driven businesses to optimize their websites in order to get a piece of the $40 billion of annual revenue voice searches are expected to generate by 2022. However, forward thinking businesses -- who wisely put as much emphasis on retaining customers as generating new ones -- should think about more than just competing in this new search space. They should also focus on how to make the customers who find them via voice search feel more confident that they will protect the data they’ve entrusted them with.
Risks & Concerns of Connected Devices
With the benefits and convenience of IoT come security concerns, and consumers are growing increasingly aware of these concerns as the frequency of cyberattacks continue to increase at a record pace. From 2014 to 2017, consumer fears of becoming an identity theft victim increased by 12%. Fears about identity theft and cybercrime are now on par with other common concerns such as illnesses and car accidents. Consequently, consumers believe companies are not doing enough to protect their personal information, and 84% of Americans say their willingness to do business with a retailer would be impacted if the retailer experienced a data breach.
Trust is a major concern for consumers when it comes to doing business with companies who have access to their sensitive information. Your company can cultivate a trusting relationship with customers by demonstrating that you are proactively protecting their data, and one effective way to demonstrate that is by offering identity protection. In fact, over half of all Americans reported they would have more confidence that businesses are actively working to protect their data, and reduce their risk of identity theft or fraud, if these businesses were to offer identity protection services, whether for free or at a cost. Moreover, with 58% of consumers reporting they are likely to purchase identity protection in the next two years, your customers are likely already looking for identity protection – shouldn’t they look to you for it? An identity protection offering can act as a positive extension of your brand, increasing touchpoints to keep your customers engaged, and even be an additional revenue stream for your business.
Strengthen & Demonstrate Your Commitment to Cybersecurity during NCSAM
There is no better time to start doing more to further strengthen and demonstrate your company’s commitment to data security than October, which is National Cyber Security Awareness Month (NCSAM). During NCSAM, many public and private organizations, including ourselves, are working together to bring awareness to cybersecurity threats and the steps business and their employees can take to better protect themselves and the customers they serve. The National Cyber Security Alliance has a vast library of educational resources available with best practices that your business can share with your employees and customers throughout the entire year to keep cybersecurity top of mind.
Your company can help consumers take back their digital identity by educating your employees and customers about online security and offering identity protection from award-winning Generali Global Assistance (GGA). At GGA, we don’t compromise when it comes to protecting consumers’ identities. We offer customizable solutions at competitive prices that enable you to protect your employees’ and customers’ identities while meeting your business goals. Our comprehensive identity and digital protection service defends personal information and enhances privacy, monitors for potential fraud, and takes action when risk is detected. If fraud does occur, our people-first approach guides our resolution specialists to go above and beyond to provide compassionate, white-glove resolution services to your employees and customers — which in turn, serves as a positive extension of your brand. To learn more about meeting customers’ needs and achieving your business goals with identity protection, sign-up for our email newsletter on the right.