Global cybersecurity threats and breaches are listed as one of the World Economic Forum’s fourth most dangerous threats facing the world today. From state-sponsored cyber-attacks to rogue actors, organizations and personal data have never been more at risk. The market for advanced cybersecurity technologies that can keep up with the ever-changing threats is a competitive landscape, with a constant need for new product development and feedback from users – the security analysts on the front-lines. One of the most effective ways for companies to develop products that meet the current threat environment is for cyber technology companies to conduct market research with security analysts, Chief Information Security Officers, and security teams.
Types of market research for cybersecurity technologies
There are well-known survey companies that provide industry insights on the state of cyber risks and developing technologies, including Ponemon and Gartner. However, this data provides general trends and reviews technologies rather than providing specific needs from security analysts and CISOs; the quantitative data isn’t detailed enough to go into road-mapping vision, product fit for a specific SOC setup, or details about emerging threats that are unique to an organization. The companies that want a leading edge and that are building better products use the quantitative industry reports as a guide, and then hire a market research firm to conduct qualitative research with actual security analysts and CISOs who are in the trenches and understand firsthand the types of tools they need to better do their jobs and protect their security posture. Qualitative research (typically focus groups in multiple regions) is the magic bullet to help cybersecurity companies arrive at key insights that give the an edge in product development, marketing, and sales.
How to find a firm that can conduct market research for cybersecurity technology
Most market research firms – even those that work with tech companies – are not equipped to handle the complexities of market research in the cybersecurity field. It’s one of the more esoteric topics to understand and it’s especially challenging for a moderator to ask participants questions about, so it requires experts who understand how cybersecurity technologies work. Moreover, most market research firms simply don’t have the recruiting expertise to find cybersecurity professionals to interview. Because of these limitations, many cybersecurity technology companies are not able to conduct the much-needed qualitative research that will give them insights to help them build more advanced technologies.
InterQ Research is one of the few market research firms that has done multiple, highly successful projects in the cybersecurity space. Our insights have transformed how cyber companies see the SOC environments and how they develop new products that are specific to the changing threat landscape. InterQ has an expert moderator on staff who understands the cybersecurity landscape and can intelligently interview the topic. Additionally, InterQ has an in-house recruiting team that has had great success finding security analysts and CISOs to interview.
Set your cybersecurity technology up for success in 2020 with market research
As your cybersecurity technology team looks to 2020 planning, ensure that you get in-person, rich insights from actual security experts. Simply relying on sales team input for new product development isn’t enough: to truly grasp the cybersecurity landscape, hire a market research firm with a proven track record in cybersecurity market research.
