With every good innovation, comes a prevalent challenge lurking in the shadows. The online space is not exempted. The increased internet penetration and smartphone use have businesses flocking online to connect with a growing audience, utilizing every digital marketing effort in the books. With internet penetration reaching 55.4% at the start of 2023 in Nigeria (Data Reportal, 2023), a massive opportunity presents itself for digital marketing, but it also creates significant challenges around cybersecurity and user trust.
A 2023 survey reveals that 47% of people globally express worry about online privacy (PricewaterhouseCoopers (PwC), 2023). Another report revealed that 62% of Nigerian online shoppers have abandoned transactions due to security concerns [Jumia, 2022]. These statistics are linked to the many challenges of neglecting cybersecurity in digital marketing, some of which are listed below.
Challenges of neglecting cybersecurity in digital marketing
Digital marketing and trust cannot be separated. The very idea of digital marketing thrives on trust. Consumers entrust their data to businesses with the hopes of personalized experiences, and great content. Failure to nurture that trust and practice transparency could lead to some of the following:
- Reduced customers and damaged reputation: This is inevitable, as consumers leave what they do not trust, and advise others to do the same, which damages your brand, and its reputation. According to a study by IBM, the average cost of a data breach in 2023 was a staggering $4.45 million, a 15% increase over 3 years (IBM Security, 2023).
- Reduced marketing ROI: Your marketing ROI is at risk because if consumers have no trust in your ability to secure their data, they will not invest in or engage with your campaigns, thereby wasting your resources.
- Disrupted marketing campaigns: Virus or malware can affect your websites, making it hard for users to access. Likewise, hackers can also steal valuable brand assets and customer information, thus disrupting your marketing efforts.
- Financial effects: Recovering from a cyber attack is expensive, as well as the fine you may incur from government bodies due to failure to comply with privacy regulations.
- Legal issues: Lawsuits by affected consumers due to data breaches are detrimental to your brand.
Integrating Cybersecurity and Digital Marketing: The Way Forward
Today’s cybersecurity threats in the evolving online landscape create a paradigm shift, which necessitates the integration of cybersecurity and digital marketing. A recent report by the Nigerian Communications Commission (NCC) revealed a worrying 15% surge in data breaches in 2022 (NCC, 2023). These incidents damage consumer trust and leave them vulnerable to financial losses and identity theft.
Benefits of Integrating Cybersecurity and Digital Marketing
- Businesses that prioritize cybersecurity and integrate it into their digital marketing strategies build their consumers’ trust.
- It equally enhances engagements for their brands, and marketing efforts.
- AI and other emerging security technologies will also introduce new security challenges and opportunities for personalized marketing.
How to strike a balance between Cybersecurity and Digital Marketing
- Data collection from users should be transparent.
- Prioritize user experience, and leverage data for personalized value.
- Obtain the user’s consent explicitly for data collection and targeted advertising, fostering trust and respecting user privacy.
Final thoughts
For long-term digital marketing success, cybersecurity cannot be ignored. Effective cybersecurity measures are more than just a technical necessity; they’re an investment in building trust with your customers. When you prioritize data security, you foster loyalty, protect your brand image, and create a foundation for successful marketing campaigns.
Written by: Khadijat Durosinmi
