It is no surprise that in modern-day business operations, cybersecurity is a critical component that organisations cannot afford to overlook. Whilst most agencies adopt robust cybersecurity measures to mitigate the risk of cyber threats, one of the lesser-known benefits of having these measures in place is the competitive advantage it can provide your agency.
IBM's 2018 study surveyed 2,800 businesses and found that those with strong cybersecurity had higher revenue growth, profit margins, lower cybersecurity incident costs, and were more likely to win and keep clients due to their strong security posture.
So, let’s discuss how cybersecurity may be able to up your win rate:
1. Trust and Credibility
Agencies that demonstrate they are prioritising cybersecurity and protecting their client’s data build trust and credibility, setting them apart from their competitors. A track record of robust policies and procedures that keep data secure gives a significant advantage over competitors that don't prioritise high-security standards and can play a significant role in helping them win larger clients who may have more complex and sensitive data requirements.
2. Compliance with Regulations and Getting Certified
Certification and Compliance is becoming an increasingly significant requirement when competing for clients and responding to RFPs, as they require information about your agency's cybersecurity measures and ability to protect sensitive information. This may include security certifications, such as Cyber Essentials and ISO27001. Staying compliant with regulations and obtaining certification reassures clients who seek a trustworthy agency to handle their data and may ultimately result in your agency coming out on top. By displaying these certifications on your website, they can even attract more leads from clients searching for agencies with these specific standards.
3. Protection of Intellectual Property (IP)
Your agency's IP is one of its most valuable assets. By implementing robust cybersecurity measures to safeguard your intellectual property, you can ensure that your innovative ideas and designs remain exclusive to you. This can give you an edge over other agencies as you keep your unique and original content to your clients, setting yourselves apart in the market.
Protecting your clients’ IP is just as crucial. Demonstrating you’re implementing measures to safeguard your clients' IP reinforces your commitment to protecting their interests and can help nurture long-lasting partnerships.
In conclusion, it is evident that having strong cybersecurity credentials in place is an essential tool for opening doors to new and potentially more lucrative clients and setting your team apart in an increasingly competitive marketplace. With the growing awareness of the importance of data security regulations and certifications, prioritising cybersecurity can gain trust, credibility, and a business advantage over your competitors. Alongside this, protecting IP and showcasing strong cybersecurity measures during RFPs can further set yourself apart and increase your chances of winning contracts.
If you would like to learn more about how robust cybersecurity can benefit your agency, you can find more information here.