Use Cybersecurity to Grow Your Revenue

Written by Zach Fuller | Jul 2, 2020 4:38:08 PM

The cybersecurity industry has a few really exciting trends and others that are mostly fluff and hype. We are seeing one particularly interesting dynamic as we build and test cybersecurity programs for our clients.

Today's turmoil has made enterprise sales a struggle for many organizations. Delayed decisions and frozen budgets are restricting the sales pipeline, forcing companies to find a new edge in the revenue generation process.

Business-to-Business (B2B) companies are gaining new enterprise clients by using their cybersecurity programs as a competitive advantage throughout the sales process. Over the last 12 months alone, our team has helped clients close millions of dollars in new business by leveraging their cybersecurity programs as an asset. One client even underwent a very successful acquisition by a multi-national corporation that conducted very detailed diligence on their security program.

Savvy companies are turning cybersecurity into both a feature and benefit earlier in their sales conversations. They are building security points into their sales process and discussing it in their marketing materials. This approach has proven to be effective, presenting a higher maturity level for an organization while minimizing the sales bottleneck experienced during the vendor vetting process.

What should a mid-market or emerging B2B company do to make cybersecurity a competitive advantage?

Glad you asked! Here are a few high-level tips:

Build a security program aligned to an industry standard cybersecurity framework such as NIST SP 800-171a or CIS Controls. This allows you to show that your organization is following industry recognized best practices rather than taking an ad hoc approach.
Have a current 3rd party penetration test on-hand with a non-confidential Attestation Letter to share with prospects. Proactive companies have penetration tests conducted at least once per year, which is also a compliance requirement for many.
For those that provide a technology platform or SaaS solution for enterprise clients, the SOC 2 audit has become the standard "stamp of approval." Many start with a simple Readiness Assessment, then SOC 2 Type I audit when appropriate controls are designed, followed by a SOC 2 Type II for maximum credibility. Finally, a SOC 3 report is non-confidential can be made available to prospects and clients.
Build security into your corporate messaging strategy. Talk about it on your website and throughout your sales process. Provide a one-page, non-confidential security program overview to prospects and a more detailed white paper if needed. Also, prepare answers to cybersecurity questions that will be asked during the vendor vetting process so you can respond quickly.

Vendor risk is top-of-mind and decision makers don't want to lose their jobs for choosing a service vendor that hinders operations. As a result, B2B companies that are not leveraging cybersecurity to generate revenue are losing opportunities to their competition.

If want to know more about using cybersecurity as a tool to grow your organization, simply Contact Us and we'll set up a time to connect.

Also, keep an eye out for the upcoming release of our new book which covers this topic in greater detail! More to come mid-July!

View full post