Keeping up with the rapidly changing demands of cyber security sales means constantly adapting to new tactics and technologies. As such, it’s vital that any cybersecurity business stays informed and continues to educate themselves on the proper methods to best reach their market.
As the cybersecurity industry has grown, more opportunities have emerged for identifying threats and developing new cybersecurity solutions. Bad actors have also evolved their techniques to scam people on a regular basis so being aware of the breadth of threats is key in providing good protection.
Cybersecurity sales requires a real thirst for knowledge. People in this field have to learn a lot, sometimes about fields they know nothing about, in order to help businesses fulfill their cybersecurity needs. In the industrial automation sector alone, computer networks can be found in autopilot systems, SCADA software and controls, entry mechanisms and data recorders that could lead to cyber attacks. To be effective, a sales rep also has to ensure that:
a) a company’s IT infrastructure is in place and well-protected and
b) that the security measures already in place meet industrial requirements so the customer doesn’t have to redo what they’ve already done if another company was responsible for installing it.
Moreover, the latest Verizon Data Breach Investigations Report entails the scale and complexity of the near future cyber-attack environment and offers actionable steps to strengthen your cybersecurity posture.
The market for cybersecurity products is expected to grow by 3.5% by 2020, totaling around $122 billion. The demand for cybersecurity experts is also expected to increase by 4% each year until 2020. This growth in cybersecurity products and experts should make the cyber security industry a lucrative investment.
Moreover, a study done by Cyber Streetwise and KPMG seems to indicate that over twenty five percent of small businesses, close to four in ten, don’t think they’re very likely to get attacked online. What’s more is that seven out of ten people who haven’t been hacked before don’t seem to think reputational damage is all that big a deal.
The first step to sell cyber security solutions is to understand the audience. Different audiences require different approaches depending on their needs and urgency. The next step is to know your product line, product usage, and different products so you can address them in the appropriate manner. Finally, you need to know how your organization works with other organizations or departments in order to get your message across clearly and effectively.
With the increasing number of cyber-attacks, it is important to invest in cyber security. In this article, one can learn how to sell cyber security.
In order to sell cyber security, one must be able to answer the following questions:
- What does cyber security do?
- How much time and money will a company spend if a breach occurs?
- Why should a company invest in cybersecurity?
- What are the benefits of investing in cybersecurity?
Cyber security sales prospecting is different. Cybersecurity sales reps wear many hats, but they all have one thing in common: they need to understand their customers’ individual cybersecurity challenges.
Some companies operate with a completely remote workforce, while others work with massive amounts of highly sensitive data, while still others wouldn’t be able to survive the financial impact of a public data breach.
5 Biggest Barriers in Cyber Security Sales Pipeline
No Sizeable and Consistent Security Demand
In cybersecurity, the market dwindles as each new security product ends up either redundant or tailored to an already saturated niche. Sales growth is difficult when there are too many offers on the table, competitors are everywhere, and customers feel confused about their choices.
How can you understand all the varied cybersecurity issues that crops up for your customer base? There are many reasons why cybersecurity companies may not be hitting their sales growth and pipeline development numbers. You’ll need to find out the root of the problem, even if this means doing research on what some problems are in some industries.
Hundreds of new cybersecurity companies start up every year, entering a field rife with cyber security vendors trying to solve the same core information security challenges.
It can be hard to tell what’s truly unique and innovative about a company if you’re looking at its website or promotional material. Sometimes, even things that appear unique and innovative may actually not be- it’s the way that industries work.
However, there is one thing that can truly distinguish a business from another within its industry: sales volumes.
Companies who have been doing well for themselves will be able to note their increased sales through increased revenues or productivity numbers. The more a company sells, the greater value customers seem to place on its product or service – thus creating a cycle of success, leading customers to refer others within their own network and driving further client acquisition.
In order to survive for a long time in the cybersecurity industry, you have to have something that people want. In order to have large amounts of demand coming from customers, you need a consistent flow of orders throughout each season.
Inconsistent Value Proposition
Let’s say that you do have the data (from analytics and other sources) that proves there is sufficient sales demand for your cybersecurity product. Then comes value addition. The most common mistakes Cybersecurity sales reps make in crafting their value propositions is in not understanding the inherent value in what they are selling. Cyber security companies who are unable to do this struggle to find traction in their marketing.
Your customers should, at any time, be able to clearly determine why they should even spend their money on your game.
Key questions to ask:
- Does the messaging resonate with you and your target audience?
- Will the cybersecurity solution appeal to your target audience, convincing them you are the right provider of their cybersecurity needs?
A prospect who reacts positively at the first touch point might not become a customer if he or she is bombarded with many different value propositions when trying to reach that final conversion. When customers are considering purchasing your product or service, it’s vital that you provide them with transparency.
7 Cybersecurity Sales Mistakes By Sales Reps (And What to do About It)
The most common mistake is to make the security sales pitch without first understanding the customer’s industry. If you don’t know what industries your prospects operate in, then you can’t offer the right solution.
- Talking about “cyber” when you should be talking about “infosec”
- Focusing on hacking when you should be focusing on security
- Focusing on the technology but not the results