It’s fair to say that most professionals don’t think to include cybersecurity in their marketing strategies. But it can improve business KPIs in several important ways.
1. Gain More Customers
Potential customers want to know how you’re protecting their data. One of our customers, a managing partner of a wealth management firm, said that almost every customer asks him how customer data is protected. 12-18 months ago he almost never got that question. This is the new normal and businesses need to be prepared with a credible answer. You can and should publicize the fact that you are fully cyber protected (if your business actually is). Studies show that most of your competitors are not. And increasingly, consumers see that as a huge miss.
2. Reduce Churn
As more companies get hacked, more of your current customers will begin to wonder how their data is being protected. If they don’t get a promise of security from you, they can go find another business where they get that promise. And how many people want to stay with a company that sends them one of these?
3. Retain Brand Value
There’s no better way to severely injure your brand than to be the victim of a security breach. Not only do you lose the trust of your customers but your company looks weak and defenseless. No one wants to work with a business that can’t protect itself. According to the 2017 State of Cybersecurity Among Small Businesses in North America, the BBB asked small business owners, “How long could your business remain profitable if you permanently lost access to essential data?” More than half reported that they would be unprofitable in under one month. Go out of business? The brand is worth $0.
Don’t underestimate the importance of what is currently a unique selling point – being a cyber protected company.