In today’s increasingly digital and interconnected world, demand for securing data and systems within organizations continues to climb. And if you’ve ever dealt with cybersecurity challenges before, you know how high the stakes are. According to a recent Cisco study, most companies have dealt with some form of cyberthreat in last year:
- 86% of companies said employees (inadvertently) tried to access phishing sites
- 70% said employees received “malvertising” (nefarious browser ads)
- 69% said company resources were used to mine cryptocurrencies without consent
Thankfully, the world’s cyber vulnerabilities have been met with a powerful defense. Investment in cybersecurity solutions is the highest it’s ever been — with VCs channeling over $11.5 billion into the space during the first half of 2021. “As an investor in the cyber market for over 15 years, I can say that today’s market climate is unlike anything we’ve seen,” says Bob Ackerman of AllegisCyber Capital in TechCrunch.
Having worked with hundreds of leading security brands, we pose the question: What opportunities exist for marketers to help customers navigate today’s changing landscape?
As October is National Cybersecurity Awareness Month, we wanted to showcase new LinkedIn insights on the cybersecurity sector and discuss best practices for companies to make the most of this fast-growing period of relevance and demand for cyber solutions.
The State of Cybersecurity in 2021
A top-to-bottom cybersecurity solution is no longer just an innovative, proactive investment for companies—it’s a tool for survival. If companies don’t invest in cybersecurity training, technology, and best practices, they open themselves up to unpredictable attacks that can carry staggering costs.
In 2021, the average total cost of a ransomware breach added up to $4.62 million, 38% of which was lost business share (think compromised personally identifiable information and its consequences), according to IBM.
With numbers like that, it’s no wonder cybersecurity professionals, investors, and stakeholders alike are taking cybersecurity much more seriously.
In the first half of 2020 (H1 2020), cybersecurity VC funding reached $4.7 billion. One year later, cybersecurity investment surged to $11.5 billion (H1 2021) — a 245% increase in VC funding, according to TechCrunch.
For cybersecurity teams, this is a refreshing change. Even just a few years ago, many security teams struggled to convince decision-makers to spend more on cybersecurity initiatives. Now, CIOs face the much more favorable problem of deciding what to do with this surplus capital injection.
John Turner, the Information Security Manager at LendingTree, put it this way in The New York Times: “Before we got to this point, we as security teams were having to go and fight for every penny we could get, and now it’s the exact opposite.”
Part of this paradigm shift can be attributed to the increasing frequency of costly cyberattacks. We’ve seen some devastating examples this year, including:
- The Colonial Pipeline attack, which froze the fuel supply to a dozen states for multiple days;
- The JBS attack (Brazil’s global meat supplier), which crippled operations until JBS paid an $11 million ransom to a team of highly sophisticated cyber terrorists.
With so much money and entire brand reputations at stake, cybersecurity was bound to become a top priority. Thankfully, it has—CEO attitudes are changing worldwide.
In 2020, only one-third of CEOs were concerned about cyber threats. Today, 47% of CEOs are concerned about cyber threats. Specifically, 69% of North American CEOs, 44% of Western European CEOs, and 40% of APAC CEOs are ramping up their cybersecurity efforts, according to PwC.
Thanks to a newfound sense of urgency and more generous capital injections, IT departments are making significant strides nationwide.
Part 2: Where’s all that cybersecurity funding going?
Many people assume that “cybersecurity” exclusively refers to cyberthreat detection and protection technology. However, people and governance and process are also crucial components to a holistic cybersecurity implementation.
In fact, most companies have put a “significant'' or “adequate” investment into each of these cybersecurity categories, according to PwC:
Let’s take a look at how each of these factors contributes to the cybersecurity ecosystem:
- People: This category encompasses everything from training and awareness to hiring additional staff with special qualifications. After all, it just takes one employee falling for a cleverly designed phishing scam to bring down an entire operation.
- Governance and processes: Awareness and training are important, but companies also need to clearly define rules and parameters for how to delegate tasks, allocate roles, and monitor behaviors to avoid cybercrime.
- Technology: Technology can be both proactive and reactive. Firewalls and antivirus scanners are common preventive measures, but it’s also important to implement solutions that can safeguard an organization in the case of a breach, minimizing damage while allowing key personnel to effectively function (even at a reduced capacity).
Companies in the Fortune 100 are leading the charge when it comes to creating robust cybersecurity solutions that defend against leading cyberthreats:
Companies are opting to invest in people, allocating hundreds of millions of dollars to training and development to build a stronger human cybersecurity infrastructure. Some are dedicated to strengthening underserved communities, while others are establishing partnerships with private and public organizations to effect change.
Yet even with record-breaking investments in cybersecurity, there’s still a deficit. While CISOs are collaborating and meeting with non-IT stakeholders and teams more than ever, many companies simply fail to meet modern cybersecurity demands:
- Remote work: COVID-19 forced organizations to accelerate their remote work capabilities. However, this rapid adoption came with considerable risks. According to a PwC CEO survey, most CISOs and CIOs don’t believe they’ve properly anticipated the risks associated with remote work, digitalization, and cloud adoption, according to PwC.
- Talent shortage: According to ISACA, 61% of organizations have understaffed cybersecurity teams. Another 68% of organizations that experienced cyberattacks within the last year listed themselves as “somewhat or significantly understaffed.” These companies needed the right talent yesterday, but many open positions remain.
- Communication: Right now, fewer than 20% of CISOs are communicating across departments. The vast majority are siloed from Marketing, Sales, and Finance teams. While 60% of CISOs plan on being well-connected with other departments by 2024, that may be too little too late.
It should come as no surprise that only 10% of companies are actually prepared to address cyber risk reductions, according to PwC. Worse yet, 70% are perpetually stuck in “reaction mode,” meaning they only address security concerns if and when they arise.
The future belongs to forward-thinking cybersecurity leaders that plan far ahead, which is why an effective marketing strategy can play a mission-critical role in cybersecurity transformation.
Part 3: The marketing opportunity for CIOs in 2021
Marketers who invest time and money into their content capture the attention of cybersecurity leaders and teams. Often, this could mean creating an expanded committee that unites Sales, Finance, and other departments that can help curate cybersecurity content and share it across channels and mediums, according to McKinsey.
How do you make your content strategic, insightful, and invaluable? Here are two ideas:
- Bridge new relationships by building content like webinars, AMAs, checklists, and guides that show the intersection of needs and goals between different departments. Help leaders create and navigate new teams that work together towards holistic cybersecurity.
- Focus your efforts on cross-functional partners (and the broader organization) by crafting educational pieces showcasing why cybersecurity is critical to business health and prosperity. Feature visually engaging content like infographics, reports, videos, and guides.
There’s another perk to cybersecurity content that’s often overlooked: it’s a great way to attract and retain talent. With the “Great Reshuffle” upon us, two-thirds of the workforce has either left their current jobs or considered doing so. Top talent is harder to come by and hold on to. Marketers should take notice because content can be a great way to show off the perks of working for your company.
For example, you can create content around your commitment to employee development through “certifications programs” and “hack days.” Or maybe you could highlight how you’ve implemented successful cybersecurity measures internally, such as with innovative cybersecurity solutions for remote work. This can help build brand trust and attract top talent, while also providing a platform to upskill your audience (as well as current and future employees) via educational courses and insightful content.
As with all content, whatever you put out there needs to offer real value. “View our demo” should not always be the end goal—credibility and authority go a long way with online communities.
At LinkedIn, we’ve witnessed firsthand a surge in cybersecurity content. As awareness of cybercrime grows and more organizations recognize the need for stronger cybersecurity solutions, decision-makers want to learn more about their choices.
That’s why CIOs, IT professionals, and security teams are talking about cybersecurity on LinkedIn and using cybersecurity solutions more than ever:
- Mentions of cybersecurity increased by 51% in October 2020.
- Momentum continued with a 41% increase in mentions in August 2021.
- Cybersecurity hashtag volumes rose 66% YoY from Q2 2020 to Q2 2021.
- Cybersecurity content engagement rose 95% YoY from Q2 2020 to Q2 2021.
Surprisingly, there hasn’t been a significant increase in the volume of cybersecurity content on LinkedIn, but the value of engaging and educational content has never been more obvious.
LinkedIn internal data reveals that CIOs, in particular, are eager to read and learn more about cybersecurity in 2021. The topics that receive the most engagement from CIOs include:
- Hacking
- Computer malware
- Cyber defense
- Cybersecurity
- Computer security
- Security awareness
- Digital forensics
- Information security
- Antivirus and malware
- Computer security
Marketers have an opportunity to influence this evolving landscape on multiple fronts. Lean into the conversations and challenges cybersecurity professionals face by promoting certifications and courses to upskill the workforce, educating the broader organization on the importance of cybersecurity, and joining the conversations CIOs are engaging with on the LinkedIn platform.
We’ll continue providing research and insights that help IT and cybersecurity leaders connect the former with the latter on LinkedIn. An effective content strategy lies at the intersection of your organization’s expertise and your audience’s unmet needs.
To stay up-to-date with the latest LinkedIn resources for tech marketers, visit our LinkedIn Marketing Solutions Technology Hub.
Topics: Tech marketing
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