When the news broke today that as many as 500 million Marriott Starwood customers were victims of a data breach exposing their personal and financial information over the course of four years, we were, of course, immediately concerned about effects on our industry.
When a member hands over their personal data, the responsibility that comes with it is paramount. Failing to secure that data can cause significant material losses. What’s worse, the loss of a member’s trust may be irreparable.
If you haven’t already, verify that your systems are PCI (Payment Card Industry) compliant. Non-compliance can cost you thousands upon thousands in fines and lost revenue.
The reality of our data-dependent world is that a breach in one industry will have ripple effects. Here’s what you can do to manage the consequences the Marriott breach is likely to have.
Prepare for an increase in sustainer card declines.
Half a billion credit cards. That number is staggering. Some of those cards - or many of those cards - may be in your sustainer file. Audit your recapture program and make sure you’re positioned to go after that lost revenue. Use as many channels as you can to get your sustainers back quickly. Consider using the following calendar to connect with donors to update their information: