A recent Network World video interview with Jeff Fagnan, Founder and General Partner, at venture capital firm Accomplice, highlighted the difficulty of what he called detecting the signal from the noise in cybersecurity these days. He cited walking the halls of the recent RSA show and seeing many vendors using the same language to communicate their offerings. “There’s too many security companies out there right now.”
At Rainmaker Growth Partners, we feel that is an understatement. The rush to capitalize on high profile breaches and board room anxieties has created a cyber security marketplace overstuffed with startups all wanting a piece of the action projected to total more than $100 billion by 2020, according to IDC. Not since we helped create the SIEM space with the launch of e-Security in 1999 have we seen so much money being thrown at trying to stake a claim of mindshare in a cybersecurity gold rush.
Our take? Those who succeed in setting themselves apart from the hordes of wannabes will have one thing in common. They’ll communicate a compelling story that captures the prospect’s emotions and imagination as much as their rational thinking and judgement. They will understand that buying decisions for cybersecurity solutions—or any tech solution for that matter—involve a rotating cycle of emotional engagement and rational judgement. We’ll be exploring the dynamics of that cycle in forthcoming blogs as we share our experience and expertise from the last 20 years in a front row seat on the cybersecurity marketing roller coaster. Stay tuned.
John Ortbal & Jim Engineer