{"id":3891,"date":"2019-04-12T14:11:14","date_gmt":"2019-04-12T18:11:14","guid":{"rendered":"https:\/\/solutionsreview.com\/endpoint-security\/?p=3891"},"modified":"2019-06-24T14:30:05","modified_gmt":"2019-06-24T18:30:05","slug":"opinion-can-your-cybersecurity-be-a-competitive-advantage","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/endpoint-security\/opinion-can-your-cybersecurity-be-a-competitive-advantage\/","title":{"rendered":"Opinion: Can Your Cybersecurity Be a Competitive Advantage?"},"content":{"rendered":"

\"Opinion:<\/p>\n

Recently, Forbes Magazine published an article by Ron Shevlin entitled \u201c<\/span>5 Cybersecurity Myths Banks Should Stop Believing<\/span><\/a>.\u201d We highly recommend the piece; we find it well-researched and crucial to dispelling long-held mistakes in financial cybersecurity.<\/span><\/p>\n

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\"Download<\/a><\/p>\n<\/div>\n\t\t<\/div><\/div><\/span><\/p>\n

However, the article also raises a distinct question: can businesses use their cybersecurity as a competitive advantage? Put another way, can businesses\u2014financial or otherwise\u2014market themselves in part on their cybersecurity policies and strengthens?<\/span><\/p>\n

The Argument Against A Competitive Advantage \u00a0\u00a0<\/b>\u00a0<\/span><\/h2>\n

Mr. Shevlin puts forth the idea of cybersecurity as a competitive advantage to refute it as a myth. He argues customers expect their financial institutions to demonstrate strong cybersecurity as a prerequisite for their patronage. Concisely, consumers consider cybersecurity a necessary feature rather than a perk. <\/span><\/p>\n

Indeed, IAM vendor <\/span>Ping Identity<\/span><\/a> found well over 75% of consumers won\u2019t digitally interact with brands after they suffer a breach. 36% would abandon a brand altogether. Their research indicates customers do expect cybersecurity to some degree. Certainly, a breach poses a significant danger to your word-of-mouth. \u00a0\u00a0<\/span><\/p>\n

Moreover, Mr. Shevlin points out that boasting about your enterprise\u2019s cybersecurity can, in fact, backfire. No cybersecurity policy or endpoint security can prevent 100% of all penetrative cyber attacks. <\/span><\/p>\n

While enterprises adopt detection and response cybersecurity with capabilities like EDR, consumers still hold onto a preventative cybersecurity mindset. Marketing your endpoint security as a competitive advantage, then reporting a breach (however minor) could create even worse fallout with your consumers. <\/span><\/p>\n

In addition, Shevlin points out only the largest enterprises possess the potential for truly great cybersecurity…and even then they still struggle. <\/span><\/p>\n

The Argument For A Competitive Advantage <\/b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/h2>\n

We here at Solutions Review certainly find Mr. Shevlin\u2019s argument compelling; certainly, his argument about the potential of a backlash carries real weight. <\/span><\/p>\n

Yet simultaneously, we do wonder whether enterprises could market their endpoint security or general cybersecurity as a competitive advantage. <\/span><\/p>\n

Even with the research, enterprises continue to struggle in recognizing the need for a next-generation cybersecurity solution, especially in endpoint security<\/a>. Instead, they maintain their weaker but more familiar legacy solutions to their detriment. \u00a0\u00a0<\/span><\/p>\n

This could mean innovating your cybersecurity policy, then carefully choosing your marketing strategy, could help transform it into a competitive advantage. Perhaps, by implementing stronger cybersecurity, you can attract consumers disillusioned with breached competitors. <\/span><\/p>\n

You can do this by:<\/span><\/p>\n