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Opportunities in CyberSecurity
The document discusses success in cybersecurity channels. It notes the strong growth in cybersecurity markets but also the complex ecosystem and crowded markets. Hot topics discussed include GDPR, ransomware, and identity management. The document emphasizes that the best route to market depends on a company's product/services mix. It advises taking time to assess relevant partner types and developing a compelling partner value proposition. Finally, it summarizes that success in cybersecurity channels requires understanding these dynamics.
Opportunities in CyberSecurity
- 1. Success in Channelsfor CyberSecurity
- 2. CyberSecurity Questions Q: Shouldwe allow our product sold alongside competing products? Q: What types of partners should we seek to partner with? Q: How to forecast growth within our channel program? Q: The channel is owned by the big brands, How can it work for my security product? Q: How does a small company break into the cybersecurity channels? Q: How can we get resellers to focus on selling our product? Q: How do I assess if Partners will work for my business?.
- 3. Welcome to thisTenego Webinar If you have any questions, please interrupt… Type into the Webinar Question screen
- 4. Welcome If you haveany questions, please interrupt… type into the Chat/Question screen Donagh Kiernan Founder and CEO Tenego Partnering Sandy Mackenzie Tenego UK South Sandy has 25+ years of experience in international sales and general management for both established and early-stage software companies. 27 years – Techie background Sales Channel, Direct Sales and Sales Organisation Management.
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- 8. Tenego’s Global Network •To date, executed projects across UK & Ireland, Across Europe, North America, Mexico & Latin America, Middle East, North Africa, India, China, South Asia… • Growing Global Network of Tenego Offices with on the ground presence and in discussion in – Ireland (HQ), UK, Germany, Greece, US East Coast – APAC, Canada, Middle East, US West Coast …
- 9. Success in Channelsfor CyberSecurity
- 10. Opportunity: Cyber Security •Strong growth; expected to reach $170 billion by 2020 (Forbes) • Corporates (and even SMEs) investing around 20% of budget on cybersecurity • Consumer products (anti-virus, malware, etc) now commoditized • For Enterprise Security is Key • Cyber-attacks on businesses and governments globally driving huge spend.
- 11. Cyber Security SectorChanges • End-point: • PC • Mobile / BYOD • IOT • Network • Email • Identity & Access • Application • Cloud • DDOS • Phishing • Malware • Ransomware! • …
- 12. CyberSecurity Hot Topics:InfoSec UK • GDPR • Privacy • Personal Data • Ransomware “wannacry” • Identity Management and Access • IoT: billions of devices being sold with security loopholes • Security Analytics • Threat Intelligence, Watson, AI • Mobile Security • Cloud Security.
- 13. Challenges in SellingCyberSecurity • Like selling insurance! – risk and fear based selling • Educating the market is required (waiting for attacks) • Benefits are intangible • How much Security do you really need? • Consumer CyberSecurity is now commoditised – very low margins in a crowded market.
- 14. Channels in NoisyMarkets What to do when it is not easy to stand out: 1) The Trusted Customer Relationship is More Important 2) Win the Channel with a Strong Partner Value Proposition 3) Become more Channel Friendly 4) If you Can't be Better, Be Different 5) Niche it: Focus on Specific Sectors or Application Needs 6) Piggy back/Cross Sell/UpSell; Partner with complementary solutions.
- 15. Product-Services Mix: Channels Theimpact of deal mix to channels: • Resellers: Fewer services needs greater licence share • Self-service licence only – volume play – Web-based Direct – marketing and inside sales? – Enterprise Sales: Direct or Partners? – Distributors and Reseller networks: Marketing Funds? • Services Required – offers more options for potential partners – offer more revenue for partners – Greater services = more compelling partner proposition.
- 16. Sales Process -Stage by Stage: Direct or Partners 1) How can you achieve faster results, earlier revenue 2) How can you reduce the costs at each stage 3) What affects the overall Return on your Sales Investment? 4) What does a Partner cost? 5) What affects the risk of your Sales investments?. Direct or through Partners Sales Process: €51,332 €53,632Cost up each stage: €26,822 €30,904 €42,332 €48,332 €2,300 Costs of your Sales Activities (€): Success Rate % (from prev stage): Activity to win 1 deal: Average cost at each stage (€): €2,300 50% 5 2 1 14% 35% 35% 40% €26,822 €4,082 €11,429 €6,000 €3,000 €92 €100 €800 €1,200 €1,500 292 41 14 Evaluation Propose / Close Lead Generation Qualified Leads Presentation Demo
- 17. Lead Generation Qualification Sales / Closing Delivery Support DirectSales Resellers… Referrals Strategic Partners / White Label / System Integrators … Complementary Services Scalabiling Your Business Engine How Compelling is Your Customer Value Proposition? How Compelling is Your Partner Value Proposition?
- 18. Partner Type Selection& Partner Fit The Capabilities you have & Capabilities you need to grow Product/Solution/Services Business Engine Market, Sales & Delivery Market EcoSystem: Company Types Partner Type Evaluation
- 19. Lead Generation QualificationSales / Closing Delivery Support Direct Sales Resellers… Referrals Strategic Partners / White Label / System Integrators … Complementary Services Your Business Flow and Capabilities
- 20. Influencers Consumer n/a Policy Makers/ Regulators Standards / Certification ISO27001, BSA, ITIL, ITAR, PII, SISA Codes of Practice Public Sector, Local Authorities Analysts Media Industry Organisations TargetCustomers Water Electricity Gas Advisors/Consulting Accountants / Tax Advisors / Business Consulting T1 Legal* Accountants/Business Consulting T2* BPO Industry Organisations DebtServices& Collection Specialist Debt Consultants / Credit Checking * Debt Recovery* BPO Accounts Receivable SI’s&ITServices IT Consulting Systems Integrators* , IT Managed Services IT Services Software Solutions Debt Management Software* Contact Centre Mgmt Systems* Workflow /Doc Management /Case Management Step 2 Evaluate Target Markets Evaluate Market •Product Markets •Specialist Service Markets •Routes to Target Customers
- 21. Partner Type EvaluationLeads Plan C reate Q ualify D evelop Prove N egotiate C lose Im plem entSupport Value Added Solutions Know ledge & Focus Existing & G row ing C ustom erBaseC redibility /Influence w ith D ecision M akers Ease ofdoing Business O pportunity forPartner Tim e-to-Engagem ent Partnering Experience # PotentialC o's in M arket Lead G en Sales D eliveryK ey C riteriaFullProcess Business/ITConsultants Regional 2 4 4 4 4 4 2 2 3 1 0 2 2 5 4 3 5 3 5 Business/IT Consultants Regional 43 41 33 29 59 Sales and Delvery Process Key Characteristics Summary by Capability Sector Specific Consultants 3 5 5 5 5 5 3 3 4 1 0 6 3 6 4 4 5 4 3 Business/IT Consultants Regional 53 51 40 35 74 3 BPO 3 5 5 5 5 5 5 5 3 2 2 4 3 5 2 2 2 4 3 BPO 43 45 32 25 70 4 System Integrators (VARs) 4 5 5 5 5 5 5 5 5 5 5 5 4 5 5 5 5 5 4 System Integrators (VARs) 57 58 53 38 92 1 Sector Specific Solutions 4 5 5 5 5 5 5 5 2 2 0 5 5 5 4 4 2 4 3 51 52 36 32 75 2 Direct (current) 0 5 5 5 5 5 5 5 4 4 3 2 5 2 3 3 3 5 3 Direct (current)41 46 37 26 72 Our Partner Propositions - enabling or providing for the partner… Evidence ofStrong Value Proposition (0-6) O pportunity forPartner (0-6) O pportunity forVendor (0-6) The Value the Company Types bring to 59 Business/IT Consultants Regional in supporting the sale of PivotalCRM;to provide services on business process development, training, documentation and change management, and licence revenue share 2 3.0 3.9 introductions/referrals into deals and local expertise in consulting services 3 Sector Specific Consultants in supporting the sale of PivotalCRM;to provide sector specific services on business process development, training, documentation and change management, and licence revenue share 1 4.0 4.9 introductions/referrals into deals and local expertise in consulting services 4 BPO enabling BPO's to provide flexible integration and solutions to their clients businesses and revenue stream, or credits, in introducing their clients to the solution 4 2.0 4.7 Grow product licence share on a per seat basis and int 1 System Integrators (VARs) enabling Implementation service revenues and licence share AND a plaform and global marketplace for sector specific solutions developed 4 5.0 6.1 full lead gen, sales, implementation and support with opportunity f new solutions 2 Sector Specific Solutions providing sector specific CRM based applications adding value to their existing sector solutions 1 4.0 5.0 introductions/referrals into deals and local expertise in consulting services
- 22. Partner Fit • Fitwithin the company • The target customer • Their existing product set • Their Business Objectives • Their capabilities… • Fit with the sales team • Helping them meet their targets • Aligned with what they currently sell.
- 23. Partner Fit Categories Customerand Decision Maker Strategic Product & Services Fit Current Product & Services Fit Sales & Marketing Fit People and Culture Fit
- 24. • Strong growthin Cybersecurity markets • Yet with complex ecosystem and crowded markets • Hot topics: GDPR, Ransomware, Identity Management …. • Route to market dependent on Product/Services… • Take time to assess relevant Partner Types • and your Partner Value Proposition What will work for your company? Summary: CyberSecurity Channels
- 25. Thank You, Questions? Ifyou have any questions, please type into the Chat/Question screen Donagh Kiernan Founder and CEO Tenego Partnering Sandy Mackenzie Tenego UK South Sandy has 25+ years of experience in international sales and general management for both established and early-stage software companies. 27 years – Techie background Sales Channel, Direct Sales and Sales Organisation Management.
- 26. www.tenegopartnering.com/resource www.tenegopartnering.com/blog Further contentavailable online Presentation can be found here: https://www.slideshare.net/DonaghKiernan/opportunities-in-cybersecurity 26
- 27. Additional Webinars • Otherwebinars available in our Resource Page: • Opportunities in CyberSecurity • Partnering as an Exit Strategy • How to fix a Broken Sales Channel • Partner Program Development for Scalable International Growth • Planning 2017: Decisions and Tools for Growth • Sales Partner Management for better Partner Engagement • How to ensure Partner Fit. It's not as simple as it may seem • Meet Your Revenue Targets with Focused Sales Execution • Finding Big Markets for Big Data & Data Analytics Solutions • Business in Europe: Understanding the bigger opportunities • Growing your Business in the UK • Germany: Opportunities for Tech Companies • And many more… www.tenegopartnering.com/resource 27
- 28. Related Articles • Availablein our Blog: • 5 Points on Sales Channels Success for Noisy Markets • In Star Wars or Software Companies, Small can make big impact on Giants (IBM, SAP, Oracle, HP...) • Partnering Routes: Tier 2's OR Software Giants (IBM, SAP, Oracle, Microsoft...) • 5 Reasons Why the Big Boy System Integrators Might Partner with You • Want to sell your company? Then Partner with potential acquirers • The First 100 Days of Taking Control of Your Sales Channel • Are you Strategic to your Strategic Partner? - Software Sales Channels Unrequited Love • 5 In & 5 Out in Reviewing & Improving Your Sales Channels - Part 2 of 2 • 5 In & 5 Out in Reviewing & Improving Your Sales Channels - Part 1 of 2 • What Partner Types do you want in your Partner Program? • 5 Hard Things in Building an Effective Partner Program • And many more… www.tenegopartnering.com/blog 28
- 29. Build & Manage SalesChannels • Executive Hands-on • Your Alliances Team • Software Business Experts • Practical • Results Focussed CONTACT DETAILS: Tenego Partnering + Ireland, UK, Germany, Benelux, USA + Greece, APAC… Web: www.tenego.com Email: [email protected]