Institute reaction to TalkTalk profit annoucement after cyber attack

12th May 2016

Response from Mike Petrook, Director of Policy at the Institute of Customer Service, regarding TalkTalk’s profit annoucement and insistence it has ‘bounced back’ from cyber attack fallout:

“The recent news that Talk Talk’s profits have halved following a cyber attack in late 2015 is a clear example of the impact that a loss of trust can have on customer satisfaction and the bottom line.  

"Our own research suggests that 1 in 5 consumers no longer have faith in companies that suffer data breaches. The fact is that customer loyalty and recommendation is not just determined by a positive experience, but by the promise of performance when things go wrong. That’s why the organisations who put the customer experience at the heart of how they prepare for – and respond to – cyber attacks will be the ones to attract and retain a loyal customer base.  

“A failure to be transparent or respond with speed can not only lead to immediate problems, but risks long term damage to the business.” 


Ends 


Notes to editors

For further information please contact:

Ellie Scott and Carole Cassidy

E: [email protected] 

T
: 0207 010 0831 (Ellie Scott) or 0207 010 855 (Carole Cassidy) 

About The Institute of Customer Service

The Institute of Custome
r Service is the professional body for customer service delivering tangible benefit to organisations and individuals so that our customers can improve their customers’ experience and their own business performance. The Institute is a membership body with a community of over 500 organisational members – from the private, public and third sectors – and over 4,000 individual memberships. For more information about the Institute of Customer Service go to www.instituteofcustomerservice.com

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