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The Biggest Risks Online Businesses Face in 2022!

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Risk is inherent in any business and industry. However, running an online brand will come with specific threats to a company, its operations, revenue, and reputation.

Despite this, there are many steps you can take to minimize or avoid disruption or downtime, which will protect your company’s profitability and image. Read on to learn about the biggest risks online businesses face in 2022.

Internet Disruption

An internet disruption is an obvious threat to your business. If your team cannot access the internet, it may grind your social media campaigns, email newsletters, and communications to a halt. Also, you will likely struggle to access, edit, or create files in the cloud.

Support productivity by picking the best internet service provider for your business. In some cases, the best option might be a provider in your chosen state, as you’ll have access to local, responsive customer support and you may enjoy improved network reliability. If you’re unconvinced, here’s an example of why Utah Broadband is perfect for Utah businesses.

Website Downtime

Website downtime could destroy your company’s revenue and reputation. If customers cannot access your site, they might be unable to buy a product, hire a service, reserve a table, or book a hotel room.

Many factors can cause website downtime, such as:

  • A hosting glitch due to server downtime or a traffic surge
  • A plug-in failure
  • A cybersecurity attack

Protect your online business by choosing a reliable hosting provider with a high uptime percentage and dependable servers. Also, be cautious about the software solutions you introduce by researching trustworthy add-ons and plug-ins.

Cybersecurity

Hackers are happy to target online companies of every size. In most cases, they will target a site to steal payment information, access and sell sensitive data, install malicious malware, or hold a website to ransom.

A data breach can cost a company millions of dollars and destroy its reputation. No brand wants to inform its customers that their credit card details have been stolen, but it is a real threat to your online business.

Mitigate cybersecurity risks by:

  • Introducing strict cybersecurity policies, such as creating strong passwords, using two-factor authentication, and limiting device usage
  • Installing anti-virus programs, firewalls, and other cybersecurity solutions
  • Only storing essential customer data
  • Backing up your website daily
  • Updating your site to avoid cybersecurity vulnerabilities
  • Educating your employees on potential cybersecurity risks, such as phishing scams

Algorithm Changes

If your online business relies on substantial web traffic from the search engines, algorithm changes may play havoc with your company’s annual sales. For instance, a Google update might result in your website losing its ranking in the search engines, especially if your site isn’t compliant with its new requirements.

Shield your business from penalization by:

  • Following white-hat SEO techniques
  • Monitoring the latest SEO changes and trends
  • Use “nofollow” tags when linking to websites
  • Audit your site’s backlinks
  • Track your anchor density (use a mix of brand anchor text, URL links, target keywords, and generic anchor terms)

Using tried-and-tested tactics, keeping a clean website, and following white-hat SEO trends will protect your site from algorithm changes. As a result, your business will enjoy a steady stream of daily traffic.

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