At Black Door Creative, we spend a healthy amount of time and energy getting our buyers and readers to take reasonable precautions against having their websites hacked. One of the reasons we do this is because many business owners and executives actually underestimate the real costs of a security breach.
When thieves find a way to get into the coding of your website, it’s probably going to cost you a lot more than you think to undo the damage. Let’s look at the major expenses you could find yourself paying when hackers strike…
The Cost to Repair or Replace the Website Itself
The most obvious cost associated with a hacker attack is the fee to repair or replace your website itself. In many cases, the underlying code will have been corrupted, and it’s possible that some or all of your content will be lost (particularly if you aren’t running regular backups).
Additionally, it’s often the case that older websites are targeted, meaning that restoring them would simply involve putting the same vulnerable pages back online. So business owners often opt for a complete website replacement, which can be expensive and leave you without a functioning web presence for several weeks or months.
Expenses Related to Fees and Liabilities
What happens if customer data or financial details are stolen by the hackers who break into your website? In a lot of instances, you’re going to be on the hook for any damages, fees, and expenses that show up as a result.
That means you might lose some of your own money (for instance, if it were wired out of your bank accounts), along with any funds that are lost by your clients because of the breach. We know from experience that these costs can run into the tens or hundreds of thousands of dollars.
The (Huge) Hit to Your Credibility and Sales Potential
The biggest expense related to a hacked website is one a lot of business owners never think about at all. It comes down to the lost future sales, opportunities, and partnerships that never develop.
Once you have been targeted successfully by hackers, and your customers know that their data isn’t safe with you, it can be very hard to close new business. That can affect your credibility and lead generation potential for years to come. In fact, it’s entirely possible that a successful hack could put your company out of business – not because of the initial expenses, but because of the enduring damage to your reputation that weighs on your bottom line like an anchor for years to come
The Bottom Line on Hacking
If you take away nothing else from this article, know that allowing hackers into your website can turn out to be incredibly expensive. It’s well worth it to put the right security in place now so you can avoid dealing with those kinds of problems later.
If you aren’t sure whether your data is as safe as it could be, now might be the perfect time to schedule a website audit with our creative team. Contact us today so we can get the process started!
