By Marco Ciappelli
A conversation with Sarah Squire, Senior Technical Architect at Ping Identity
Cybersecurity as a Branding Value for Companies.
It is not a cost, it is an investment.
Times have changed quite a bit since cybersecurity was even a word. Now it is most definitely a thing, a problem, a cost, and also a value.
Let’s assume that you are a cybersecurity professional and you want to enhance the cybersecurity posture of your company, and let’s assume that you need money to make it happen. What do you do?
You go to upper management or to the board, you ask for cash, and it is a plausible scenario that you get a big fat no, or a very skinny maybe, because there are other priorities on the table, such as product development, operational expenses, marketing and all the fun stuff that helps to make sales and drive the bottom line.
The fact that cybersecurity sounds boring and the fact that it is mostly perceived as a cost doesn’t help your chance for success.
But is that true?
In this conversation, Sarah and I spoke about some interesting research that addresses exactly the topic of cybersecurity as an asset that contributes to the brand perception and brand value.
Before I proceed further into this presentation, let me take a moment to remind you that ITSPmagazine is, and will always be a free publication.
Our mission is to raise awareness for cybersecurity by making it understandable, accessible, and part of everyone’s everyday life. Because of this, we rely on business sponsors, small individual donations and our own time and money to make this happen, and let me tell you there is nothing I would rather do than keep educating people about cybersecurity, running this column and ITSPmagazine.
Your company name and what you do would be mentioned right here and in many other places on the website. I promise I will make it affordable and well worth it.
So, get in touch with me if your company would like to join me on my quest to raise awareness about what it means to live in a Cyber Society — because there is no better place than here, and no better time than now, to talk about the future of this digitally connected world.
Some of the points discussed in this podcast are:
Consumers do care about their security, their personal data and their privacy more than ever before — and your customers, or potential customers, will change their behavior if your company is the subject of a successful cyber attack.
The results from this research — which was run in the US, UK, France, and Germany — are not surprising to me, but they might be quite shocking and hopefully motivating for many business owners.
78% of the total participants said that they would stop shopping online with a brand if it gets breached — and 36% would stop engaging with a brand both on and offline.
This is not just about missing sales; it is also about losing the brand support and promotion that comes from a positive customer/brand interaction and engagement on social media.
Now the link with cybersecurity takes it to a whole new level. Now it becomes an asset that contributes to — or the lack of damage — a company bottom line.
Not all customers are alike, and Sarah and I talk about some statistics related to the generational differences we see when it comes to personal data security and privacy.
You have probably heard about the concept of “Trust and transparency.” You have heard it before, and you are going to listen to it here, too. This time, however, it is tied to the enormous role that reputation plays in the backbone of today’s brands.
I believe that the value of a brand cannot be faked anymore; its core is in the emotions that people feel about it and nothing speaks as loudly and as effectively as positive action.
I would like to end this chronicle by reminding you all that your brand — company or personal — is not what you think it is, but what the customers think it is.
I am hitting the play button now.