The Security-CX Connection
April 2, 2020
Helping businesses see the big picture
The Channelnomics Staff
Security is top-of-mind for every organization in today’s evolving, fast-paced world. Whether a small business with five employees or a multinational behemoth with thousands of staffers around the globe, keeping data, systems, and networks secure should be job No. 1. For SMBs – often more cash- and resource-strapped than their enterprise counterparts – a data breach can be far more costly than they realize.
While small and midsize businesses have turned to MSPs to act as, or supplement, their IT staffs, many of these companies haven’t yet grasped just how deeply a security breach can damage a key aspect of their business – the customer experience (CX).
“There’s a famous quote from Warren Buffet that it takes 20 years to build a reputation and 5 minutes to ruin it,” said Colin Knox, head of community engagement at SolarWinds MSP. “We’ve referenced research showing that about 30% of customers will never go back to a small business that’s incurred a data breach. The ability to maintain business is significantly affected by security, and sometimes all it takes is a reasonable accusation of a breach to drive an impact. Businesses need to be so forward and open and protective of their reputations.”
A marred CX translates into a damaged brand name, increased customer churn, and a reduced bottom line. So how can MSPs 1) convince customers they need to invest more in security and 2) help them navigate the increasingly perilous threat landscape?
Following these three tips should help:
Tidy one’s own house. Knox and others at SolarWinds said it’s important for MSPs to be at the top of the food chain, especially now that cybercriminals have zeroed in on them as targets. To keep their own systems locked up tight, MSPs need to take a layered approach to security, deploying a host of technologies, including patching, next-gen firewalls, multifactor authentication (MFA), password management, e-mail security, and advanced endpoint protection, as well as security awareness training.
Train and educate customers. “As much technology as you put in place, people are still the weakest link. Training for clients allows you to take a huge step forward in this regard,” Knox said. “Then look at what risks could be mitigated at what scale.” Beyond that, clients need to take the same defense-in-depth approach as MSPs, leveraging both basic and advanced security technology.
Have frequent conversations. “MSPs need to make security front-of-mind and show clients the real risks to their business,” said Knox. “How many SMBs can afford an unbudgeted $50,000-plus to recover from a breach?” While MSPs should share statistics to quantify that risk, they need to talk beyond the numbers and tell a relatable story, asking customers to consider the sense of security they get from their own suppliers. “That conversation needs to continue – maybe every quarter along with a business review,” he said. “They need to discuss the threat landscape and what the customer can do better. Customers should be having these talks with their own clients too.”
To help MSPs in their quest, SolarWinds has invested heavily in security products to protect service providers and help them provide a positive CX. “A good customer experience is driven by the client feeling valued, protected, and respected,” Knox said. “It has everything to do with what makes you warm and fuzzy at the end of the day.”
While small and midsize businesses have turned to MSPs to act as, or supplement, their IT staffs, many of these companies haven’t yet grasped just how deeply a security breach can damage a key aspect of their business – the customer experience (CX).
“There’s a famous quote from Warren Buffet that it takes 20 years to build a reputation and 5 minutes to ruin it,” said Colin Knox, head of community engagement at SolarWinds MSP. “We’ve referenced research showing that about 30% of customers will never go back to a small business that’s incurred a data breach. The ability to maintain business is significantly affected by security, and sometimes all it takes is a reasonable accusation of a breach to drive an impact. Businesses need to be so forward and open and protective of their reputations.”
A marred CX translates into a damaged brand name, increased customer churn, and a reduced bottom line. So how can MSPs 1) convince customers they need to invest more in security and 2) help them navigate the increasingly perilous threat landscape?
Following these three tips should help:
Tidy one’s own house. Knox and others at SolarWinds said it’s important for MSPs to be at the top of the food chain, especially now that cybercriminals have zeroed in on them as targets. To keep their own systems locked up tight, MSPs need to take a layered approach to security, deploying a host of technologies, including patching, next-gen firewalls, multifactor authentication (MFA), password management, e-mail security, and advanced endpoint protection, as well as security awareness training.
Train and educate customers. “As much technology as you put in place, people are still the weakest link. Training for clients allows you to take a huge step forward in this regard,” Knox said. “Then look at what risks could be mitigated at what scale.” Beyond that, clients need to take the same defense-in-depth approach as MSPs, leveraging both basic and advanced security technology.
Have frequent conversations. “MSPs need to make security front-of-mind and show clients the real risks to their business,” said Knox. “How many SMBs can afford an unbudgeted $50,000-plus to recover from a breach?” While MSPs should share statistics to quantify that risk, they need to talk beyond the numbers and tell a relatable story, asking customers to consider the sense of security they get from their own suppliers. “That conversation needs to continue – maybe every quarter along with a business review,” he said. “They need to discuss the threat landscape and what the customer can do better. Customers should be having these talks with their own clients too.”
To help MSPs in their quest, SolarWinds has invested heavily in security products to protect service providers and help them provide a positive CX. “A good customer experience is driven by the client feeling valued, protected, and respected,” Knox said. “It has everything to do with what makes you warm and fuzzy at the end of the day.”