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Keeping the world safe from cybercrime is big business. In 2019, the cybersecurity market totaled $112 billion annually. By 2027, the market is expected to swell to more than $282 billion annually, an annual growth rate of over 12 percent, according to Fortune Business Insights. The reasons for this massive growth include the increasing prominence of e-commerce, artificial intelligence, the “internet of things” and blockchain technology. To keep up, and keep safe, companies and governments are devoting a growing share of their IT budgets to cybersecurity.
The cybersecurity market is dominated by many of the long-time leaders in technology, such as IBM, Microsoft and Cisco, as well as niche cybersecurity providers like Symantec and McAfee. But exponential growth inevitably attracts new entrants, and this is certainly true of the cybersecurity market. In fact, Fortune Business Insights estimates that the small- and mid-size players will see the fastest revenue growth.
For new players and established leaders, the challenge is the same: how to build market share in a rapidly growing industry in which competitors are proliferating. At DeSantis Breindel, we’ve had a front-row seat at this cybersecurity derby; in the past three years alone, we’ve rebranded several innovative cybersecurity companies in very different segments of the industry. All of them came to us with the same request: help us to stand out and above the competitive noise by defining and communicating a sustainable and authentic point of differentiation.
Each of these companies faced unique circumstances in their quest to make an impact, but our experience working with them has uncovered five fundamental imperatives that any cybersecurity competitor must understand in order to build a successful brand.
Cybersecurity Branding Imperative #1: Forget FUD
The time has long since passed when it’s possible to build a cybersecurity franchise based on Fear, Uncertainty and Doubt, or FUD. In part, this is because these negative messages – essentially, be afraid, be very afraid – grew so ubiquitous they became white noise, something to be tuned out. At the same time, as instances of cybercrime increased, including many high-profile data breaches – so did awareness of the threat they posed. Cybersecurity companies no longer need to make people aware of the danger when headlines in every media outlet carry stories of hacked databases and stolen identities. What they need to do is convince their prospects that they can prevent cybercrime from happening to them. In working with our cybersecurity clients, we found that FUD branding was so deeply entrenched that companies often resisted relinquishing it until research proved conclusively that it no longer resonated with their prospects. Yet dark, foreboding imagery and messages screaming gloom-and-doom datapoints persist, and tend to drown about what the marketplace really wants to hear: how are you going to keep us safe?Cybersecurity Branding Imperative #2: Aim High
You would think that achieving safety and security would be the most important motivator of all, whether in one’s personal life or in business. But in fact, there is abundant research showing that security, while important, doesn’t rank high among human needs. Perhaps the best-known proponent of this idea is Abraham Maslow, the American psychologist whose “hierarchy of needs” is a widely accepted theory of psychological health. Maslow’s hierarchy is comprised of a five-tier model of human needs, often depicted as levels within a pyramid. Needs lower down in the hierarchy must be satisfied before individuals can attend to needs higher up. At the bottom of the pyramid are physiological needs like food and water; just above these are security and safety. Higher up we find the need for prestige and a feeling of accomplishment. At the very top of the pyramid is self-actualization – achieving one’s full potential. Seen in this context, safety and security are necessary to a sense of satisfaction, but not sufficient. This is why a cybersecurity brand that appeals only to a desire for safety won’t resonate at a deep level with the marketplace; even in a B2B context, decision makers are looking for a sense of achievement, for them and their organization. A successful brand needs to appeal to a higher-order need. In the B2B context, this might be the confidence to expand a business to new geographies, or into new market categories. Or the brand could appeal to the self-actualization needs of the decision makers themselves: we created and activated a brand for a leading identity management company that addressed the IT buyer’s desire to say “yes, we can do that” to internal stakeholders who came to them with ambitious plans for expansion, rather than say “no, that’s too risky.” The brand appealed to the buyer’s need to act as (and be seen as) a business enabler, a form of self-actualization.Cybersecurity Branding Imperative #3: Be Human
From a branding perspective, cybersecurity is one of the most dehumanized spaces in the B2B arena: lots of diagrams and flowcharts, not many images of actual people. This might not be a problem – after all, many IT professionals have an affinity for data and data visualizations – except for the fact that cybersecurity buyers are seeking reassurance that the solution being offered actually work, and will continue to work as threats multiply. They’re looking for a reason to believe.- How will the solution stay one step ahead of the bad actors? Because the people behind the solution are continually monitoring the landscape to anticipate what’s coming.
- How will my questions and concerns be addressed? By the people who stand behind the solution.
- Why is this solution superior to the other solutions that claim to do the same thing? Because the people who created it are smarter, more responsive, more experienced.