Cybercrime isn’t just about someone stealing your or your customer’s data. For many online retailers, a single breach could shutter their business.
This is because customer churn increases 2.9% after a breach, making long-term consumer confidence in a brand the most expensive aspect of a cyber attack. This is worse in the U.S., where U.S. businesses pay 102% more than companies in other countries to win customers back after a breach.
The State of Cybercrime
Cybercrime heavily affects SMBs and mid-sized online businesses. Find out how to secure your site, and increase customer trust, right now.
This isn’t just a U.S. problem, though. Across the globe, 43% of cyber attacks affect businesses with less than 250 employees. The average cost of these breaches is $172 per record stolen.
43% of cyber attacks affect businesses with less than 250 employees. The average cost of these breaches is $172 per record stolen.
But there are measures businesses can take to help protect their customer and their bottom line. We know that implementing site-wide HTTPS and encryption is the second most cost-effective way to secure your business.
The first is by hiring a dedicated security team.
BigCommerce does not manage your departmental hiring, but we can heavily influence the security of your website, especially when it comes to HTTPS and site-wide encryption. To that extent, we are your security team, delivering you HTTPs and a secure site.
This is why we are excited to announce our partnership with Symantec –– the global leader in online security –– to offer free domain validated SSL certificate and site-wide https encryption for all BigCommerce customers.
Free Encryption Everywhere will be available to all BigCommerce customers on all plans in Q2.
As part of our partnership with Symantec, BigCommerce customers will have access to a suite of encryption products — including a free standard secure socket layer (SSL) certificate — providing enhanced security, improved shopper confidence and higher search rankings.
BigCommerce is the first North American ecommerce platform to offer standard domain validated SSL certificates with a full-year validity period, backed by Symantec, the industry’s foremost leader in cybersecurity.
BigCommerce is the first North American ecommerce platform to offer standard domain validated SSL certificates with a full-year validity period, backed by Symantec, the industry’s foremost leader in cybersecurity.
Let’s talk about why we chose Symantec as our partner, and what this will do for online stores powered by BigCommerce.
Enhanced Security
More than 97% of websites worldwide lack basic SSL security. Additionally, Juniper Research estimates that the cost of data breaches will rise to $2.1 trillion globally by 2019 — nearly 4X the estimated cost of breaches in 2015 — due to the rapid digitization of consumers’ personal information and enterprise records.
As a result, businesses selling online that do not have adequate security in place risk financial liability.
Not BigCommerce customers. Here is what you get with your free encrypt everywhere solution:
- 256-bit SSL encryption
- URL security padlock
- HTTPS distinction
This is what a URL security lock looks like.
In addition, BigCommerce customers can extend their use of Symantec’s security offerings as desired with a $59, $149, and $299 plan (in addition to free Encryption Everywhere). Key differences include trust levels, green bar/padlock in browser, mobile compatibility, and larger warranty amounts.
This is what the green bar looks like.
Improved Shopper Confidence
The Baymard Institute states that 18% of all abandoned carts are due to lack of perceived trust on an ecommerce site.
In a user study to determine the most effective tools to increase perceived levels of site security, trust seals proved to have high impact.
“In our trust seal tests, both in 2013 and in 2016, the SSL seal from Norton/Symantec dominates as the seal that establishes the best sense of trust,” says Christian Holst, Co-Founder of the Baymard Institute.
Holst also notes that these seals are not mutually exclusive. You can stack seals to increase consumer trust. In other words, using the Norton trust seal offered by Symantec in combination with the Google Trusted Store and BBB seals proved to give off the highest amount of security and trust.
Google Trusted Store
BigCommerce works closely with Google to help customers earn Google Trusted Store status faster and easier. Once you have a dedicated SSL certificate, you can apply.
“Our experience with Google Trusted Stores has been great. We have noticed a big increase in conversion rates, and implementation on the BigCommerce side was a breeze — it could not have been easier.” – Larry Volwiler, RadioFence.com
Higher Search Rankings
Finally, Google’s Chrome browser update went into full effect on February 1. The update alerts consumers to the security of a site within the URL bar. Google has also hinted at site-wide security as a ranking factor within the search algorithm.
This is only the first of Google’s browser updates to notify consumers of security on sites. Eventually, Chrome will make it even clearer which sites have site-wide encryption and which do not, likely closing the gap between perceived and technical site security.
What Now?
Encryption Everywhere will be rolled out to all BigCommerce customers on every pricing plan in Q2 2017.
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