Navigating the Congested Cybersecurity Market: Engaging CISOs and Senior Cybersecurity Leaders
The cybersecurity market is like a teeming ocean of vendors, all begging to be noticed and given a spot on the boat with CISOs and other senior cybersecurity leaders. But the thing is, those execs have heard it all before. How do you rise above the noise?
A small Singapore-based cyber company looking to break into the U.S. market had the same question. And they didn’t just want to break into the market – they wanted to do it right. To do so, they knew they needed to understand the differences between their buyers in Asia and buyers in the U.S. We consulted with them and came up with a strategy to help them identify those differences, and in the process, generated a good deal of sales meetings (80% conversion) and new business.
By taking this approach, they avoided making six common mistakes that cyber vendors often fall victim to. This blog post will outline those mistakes, and how to steer clear.
Mistake #1: Leading with Fear
Cyber threats are legitimately scarier than a zombie apocalypse, and yes, they can do serious damage to businesses, governments, and infrastructure. But you can’t be a fear monger when discussing it with your prospects. CISOs are already having nightmares about it, and they don’t need you to pile on. Instead, show them how your solution will help them successfully battle hoards of the ‘undead’ (a.k.a threat actors).
No More Fear: Just be cool and focus on what makes your product a game-changer. Tell your prospects how it will save the day and help them sleep at night, and you’ll have their attention.
Mistake #2: The Info Dump
While CISOs are highly knowledgeable about cybersecurity, they are often inundated with information. You may think that presenting them with excessive technical jargon will make you seem more like an expert, but in reality it can lead to disengagement and confusion from the CISO you’re trying to impress.Keep it simple and speak their language – the one where they actually understand the impact of your product.
Cut the Fluff: Focus on the essentials and use language that connects with their needs. They don’t need to know how your product works from the inside out, just how it’ll level up their cybersecurity game. Remember, their primary concern is the strategic impact of your solution on their organization. Speak to the impact they care about.
Mistake #3: Ignoring the Integration Nightmare
CISOs have a massive tech stack to deal with, and adding another tool can be painful, especially when it comes to integration and interoperability. Don’t pretend it’s all sunshine and rainbows; it can make your solution less appealing. Know that you’ll need to address it at some point.
Integration Salvation: Emphasize the ease of integration and compatibility of your product with existing tools in the organization’s tech stack. Be up front about it, and offer support, resources, and best practices to help streamline the integration process. If they know that they won’t have to uproot their whole stack to test out yours, you have one less potential obstacle in your way.
Mistake #4: Forgetting the Decision-makers
CISOs don’t make purchasing decisions in isolation. No matter how much they love you and your product, they can’t just wave a magic wand and buy. There’s a whole crew of IT leaders and execs they also need to impress, so you think that because you have the CISO on board, it’s in the bag, you may be disappointed.
No More Surprises: Identify and engage the decision-making group as a whole and address their needs before they throw a wrench in your plans. This will not only increase the likelihood of a successful sale, but likely shorten the time to make it as well.
Mistake #5: Being a ROI Scrooge
CISOs have to justify their purchases, so make it easy for them to. Show them the gold at the end of the rainbow (ROI), and they’ll be more likely to invest in and advocate for your solution.
ROI Royalty: Quantify the potential cost savings, risk reduction, and productivity improvements your solution can deliver. Give them hard numbers, case studies, testimonials, and success stories. And if you have a few champion customers, don’t be shy to ask for references. This is an area that you shouldn’t be afraid to go all in on; ROI is the key to the kingdom.
Mistake #6: Ghosting
CISOs are busy individuals, and it’s crucial to follow up in a timely and respectful manner to keep the momentum going. There’s always going to be another vendor trying to get their attention – once you have it, you shouldn’t take it for granted; you will lose it.
Stay Connected: Create a follow-up plan that speaks to their specific challenges and needs, and don’t let up. Just remember to tread the fine line between persistence and stalking. Ensure each interaction adds value and demonstrates your commitment to addressing their concerns.
In Conclusion
Navigating the cybersecurity market is no joke. But by dodging these common pitfalls and showing CISOs that you’re the real deal, you’ll stand out from the crowd and win their hearts (and wallets).
Spice things up by incorporating intimate, conversation-driven events into your prospect engagement plans. They can do a lot to uncover information needed to avoid making many of the mistakes above. Not only are they more fun than searching online sources hoping you find pertinent info, but you also have the opportunity to learn directly from prospects themselves and tailor follow up accordingly.
Ready to dive in? Contact grow@buyerforesight.com and start planning your next event.
