2021 posed many cybersecurity challenges for companies around the world—and now, business leaders must prepare for what will likely be another year rife with new cyber breaches.
In 2021 alone, we saw major ransomware attacks on companies such as Colonial Pipeline by the Darkside ransomware group, the REvil ransomware group’s attack on Kaseya, and the Babuk ransomware group’s attack on the National Basketball Association.
It’s no secret that cybersecurity breaches can yield staggering cybercrime costs for your business. According to IBM, the average total cost of a data breach in 2021 was $4.24 million, a 10% increase year over year. In fact, the Identity Theft Resource Center found that by September 30, 2021, the number of reported data compromises in 2021 had already exceeded the number of compromises throughout 2020. Meanwhile, in 2021, the global website security market size is estimated to be around $4.62 billion. Finally, the second quarter of 2021 alone saw 367.3 million new domain name registrations, an increase of 3.8 million registrations from the previous quarter.
Given these astounding statistics, it’s plain to see that businesses must prepare to mitigate cyber breaches in 2022. Take into account these three key strategies as you plan your cybersecurity measures.
The first prerequisite for providing best-in-class security solutions is to fully understand your product portfolio.
The ways in which cyberattackers commit cybersecurity breaches are constantly evolving as attackers work to develop new, more nefarious methods for infiltrating enterprise networks and connected devices.
As such, one of the best ways to provide your customers with strong security measures that prevent cyber breaches and reduce cybercrime costs is to ensure your products and services stack up against competitive offerings. Think from the customer’s perspective: why would they do business with you if your security tools and competencies aren’t as good as your competitor’s?
To learn more about the importance of performing audits on your product portfolio and some of the security threats modern brands face, check out this SiteLock blog post.
Each customer will have different security needs dependent upon the technological systems they already have in place and their unique business priorities. To effectively meet your customers’ cybersecurity needs, you must understand their current cybersecurity situation—as well as what can be done to improve it.
Once you know what your customers need accomplished to prevent cybersecurity breaches, you can begin working to address those needs given your existing knowledge. You’ll also understand what you have to research if your current competencies don’t fit the bill.
At the end of the day, these assessments will help you properly budget out the job—this way, you’ll know how much to charge the customer and can help them develop an informed go-to-market strategy for their products and services.
Having fully assessed your product portfolio and your customer’s security needs, you’re now ready to collaborate with third-party security vendors who can help your customers be more secure against both common and emergent cybersecurity breaches.
Be sure to choose someone whose reputation you trust and admire, since a strong partner can go a long way in building customer loyalty. By partnering with a security vendor that has a proven track record of success using best-in-class technology, you can strengthen the security of your own business—and attract new repeat customers in turn.
Being ready for any and all cyber breaches your customers may face in 2022 is only possible by getting prepared today.
With SiteLock as your security vendor through 2022 and beyond, you’ll have a partner that works to understand your goals and build the cybersecurity solutions that are right for you—all the while helping you address your customer’s needs and cut down on cybercrime costs.
Click here to learn more about how partnering with the leader in website security can help your business succeed in 2022.