How Internet Security Determines the E-commerce Behavior
Your business is your livelihood, which means that, if there’s anything that can make a difference between success and failure, it’s worth your attention. While most people think prices and customer service are all that determines your sales, this is not necessarily the case. In the era of frauds, hoaxes and internet scams, security is one of the key factors that determine your e-commerce behavior. Still, it’s quite improbable that a random internet user will have an accurate image of their online safety. With this in mind, even risk perceptions can play a vital role in their e-commerce behavior. Here are some things worth knowing.
A Matter of Privacy
First of all, no one is comfortable handing out their private information. Sure, the first thing that comes to mind when this is mentioned is your credit card PIN number, but even in less severe cases, the outcome can be unsettling. Not every malicious person online is an expert hacker. Some black-hat marketers just need you email, so they can spam you with the incredible amount of adds. Customers who suffer this because they visited your website are not likely to return anytime soon (if ever). This is why you would be wise to encrypt all this vital data, so that you and your client are the only parties who can access it.
Trust is the Key
In any kind of retail and e-commerce, the key to doing business lies in trust. However, unlike in the traditional retail, the customer won’t be able to just pay you and leave the store with the item. Even though online trading is pretty well regulated today, each and every purchase represents some sort of leap of faith. Your clients need to be aware that you are there to primarily protect their interests and that the safety of both their assets and their private data is your utmost concern. This is why, one of the most important tasks of a good payment service provider is to conduct identity confirmation in a subtle yet reliable way.
Raising User Awareness
We always fear the unknown, which is why even the slightest mention of the dangers of the internet results in increased risk perception. On the other hand, users that are familiar with privacy practices and options are more likely to feel in control of the situation. Comfort-zone is an ideal setting for doing business and it’s something from which your e-store can only benefit. Seeing how you cannot rely on self-initiative of your potential buyers, you need to find a way to raise the awareness on your own. Unfortunately, everyone knows that people seldom (if ever) read terms and conditions, so you might want to try out a different approach.
Theory of Planned Behavior
Finally, we arrive at the most important part: the way in which you can turn the behavior and habits of your visitors and customers in your favor. The first thing you need to know is that it is nearly impossible to shake off your first impression. In most cases, if the first purchase on an e-store was successful and satisfactory to a customer, they are bound to return. Second, negative events have a much stronger impact than positive ones. Your customers may be safe on your website a thousand times, but all it takes is a single security breach and you will never see or hear from them again. Lastly, humans are creatures of habit so if they like using your website, they are not likely to look for alternatives (even though these alternatives may have more competitive prices).
The exploration of user behavior goes much deeper than that. A startup BioCatch employs the power of behavioral biometrics to determine the identity of users on your ecommerce profile once they log-in. For example, there are certain behavior patterns that each of us have, like what we click first on or the way we move the cursor over the page. Through observing this, BioCatch can spot a fraud from mile away and act preventively.
Keeping your users safe is one of the keys towards them feeling welcome on your website. While price and convenience are two major factors that influence potential buyer, one can never disregard the issue of security. Being able to provide this might just be the first step towards building and nurturing brand loyalty between your business and your clients.
Guest author, Raul Harman, is a B.Sc. in Innovative entrepreneurship and has a lot to say about innovations in all aspects of digital technology and online marketing. While he’s not enjoying football and great food, you can find him on Technivorz.com