What is the definition of the Identity Lifecycle?
Up until now, identity lifecycle management was relegated to the IT department for a company, and it solely referred to the user rights and access privileges associated with managing employee access on a corporate computer network.
When the U.S. Supreme Court determined in 2010 that a business had the same rights as a person when it came to dealing with the regulation of campaign spending by organizations, the opportunity to enhance and expand the definition to an Identity Lifecycle came about. It has a striking resemblance to consumer behavior models such as the “Diffusion of Innovation” and the “Product Lifecycle.”
When it comes to the Identity Lifecycle, there are six essential pillars (or stages) that must be addressed whether it’s for a person or an organization.
An effective identity is unique, and every identity has a lifecycle that begins at birth and sometimes is able to transcend death. Whether it’s your personal identity or that of your business, it’s your responsibility to manage and protect what’s yours!
- Create It! – A business is formed and registered with an applicable government body. A business owner creates a business and marketing plan based on the vision and values of the founder, and crafts a brand strategy.
- Claim It! – The business name, address & phone number (NAP) is registered or claimed on as many internet search engines and directories to make it easier to find in a local search.
- Promote It! – The business starts to promote itself using Search Engine Marketing, PPC (Pay-per-click) advertising and traditional media buys including print and broadcast media to help grow sales.
- Enhance It! – As the business begins to grow, the owner or marketing team enhances it’s brand by implementing authority and content marketing techniques to position the business as a market leader. It also deploys Reputation Management systems to customers to build positive “word-of-mouth” – one of the most successful marketing methods.
- Defend It! – As a person or company grows and become noticeable, it essentially creates a “target” for cyber-thieves. There are many steps a person or business can take to Defend It’s Identity, but it is impossible to be 100% safe from being a victim of Identity Theft.
More often than not, business identity theft is an “inside job” caused by a current employee. With far fewer protections than what’s available to individuals, it’s necessary to track a business identity with business credit bureaus, secretaries of state, and see if the business EIN is being used anywhere for fraudulent activity.
For individuals, fraudulent use or personal or confidential information (PII) can be significantly greater. Information can be purchased on the black market ranging from $1 per record to nearly $250 per record (in Medical ID Theft).
There’s so much information exchanged in the internet, it becomes impossible to monitor all areas where PII is used so it becomes more important to implement a service that can monitor and report on all the possible databases.
- Protect It! – Identity Theft and Fraud has been a growing problem, and now small businesses are the primary target. Without a comprehensive protection plan for your business, a data breach can result in catastrophic financial consequences. There are many state/federal laws requiring a business to safeguard the confidential and personal identifiable information it collects. We are your partner in combating data, privacy and identity theft risks.