Spur sales by courting new clients in the rapidly expanding cyber security market.
Why It’s Trending: Increasingly anxious about potential digital attacks from tech-savvy criminals, private companies and government agencies are investing more heavily in cyber security. Given digital’s dominance in the modern marketplace, such spending is likely to increase sharply in the years ahead.
Research firm Gartner Inc., for instance, reports that worldwide spending on information security likely reached $75 billion for 2015, a 4.7% jump over 2014. By 2020, spending could leap to $170 billion annually. Meanwhile, a report from Markets and Markets indicates that the cyber security industry could expand at a compound annual growth rate of 9.8% between 2015 and 2020.
What the numbers add up to is this: Cyber security is big business that’s only going to get bigger in a world where the most sensitive information is stored not in a file cabinet but on a network and/or in the cloud.
Three Ways To Capitalize:
Partner With Cyber Security Firms: With raids by cyber crooks on the rise, businesses large and small are increasingly turning to companies that specialize in cyber security to keep their data safe. Help these cyber safety specialists gain an edge on competitors with marketing campaigns that include swag that helps convey the value and efficacy of their services. For instance, have cyber security clients give their prospects and customers branded RFID blocker sleeves.
Help Insurance Agents Promote Cyber Liability Policies: Wise business owners have liability coverage to protect their companies from injury or property damage. Nonetheless, most standard policies don’t cover many of the risks associated with a cyber attack. For that, a special cyber liability policy is needed – and the market for such policies is ballooning. By 2020, the global cyber insurance market will hit $7.5 billion, up from $2.5 billion last year, according to research from PwC. Seize the opportunity by providing insurance firms and individual agents with products that promote these cyber policies. Think super-secure USB flash drives.
Empower Companies To Promote Cyber Security Internally: Smart companies know employees can be the weak link in the cyber security armor. That’s why a growing number of businesses are training employees on safe and appropriate computer use. Help human resource departments and other buyers promote best practices with branded merchandise like microfiber screen cleaners or keyboard duster brushes that bear multi-layered messaging like, “Keep Your Computer Clean.”
CHECK OUT this list for potential cyber firm clients.