Defining a niche as a cybersecurity marketer requires humility as a company (and you as the marketer!) must admit you can’t defend and protect everything. For startups, this is a cold and hard truth that needs to be recognized. You will not become an operating system for cybersecurity risk management—not on day one as a vision and probably not on day one thousand, as an executed strategy.
Certain CEOs at large public cybersecurity companies have come out to say that buyers want more integrated products. But it's important to understand their message is catered specifically to their advantage—they already have a significant customer base, have stable cash flow, and have incredible brand recognition. After a decade of being a niche, they now want to become generalists. This is an outlier situation that must be avoided as a startup. Startup founders often must start with nothing but a few close relationships to build trust.
The term "niche" originated from the French language and was used in architecture to describe a recess or hollow space in a wall that displayed a statue or ornament. Over time, the term evolved, becoming a metaphor in business and marketing, emphasizing the importance of finding a unique space within an industry. The carving begins in the mind as an ideation phase, continuing long in the digital realm of features and capabilities.
While becoming a generalist may seem like a tempting route, it often leads to a lack of coherence and disconnection with customers. Instead, focusing on a niche allows companies to hone their expertise, build authentic connections, and excel in solving very specific problems that have a strong emotional connection with the buyer. In the ever-evolving world of cybersecurity, carving out a niche is essential for companies seeking sustainable success and market dominance. By choosing the niche path and embracing it wholeheartedly, cybersecurity companies can embody Frost's sentiment and embark on a journey that leads to a fulfilling destination – a successful and impactful position in the market.
Finding your niche direction
Selecting a niche is not just about making one decision; it's a strategic process that requires careful consideration and a deep understanding of the market and customers. While some companies might fear narrowing their focus, it's crucial to recognize that finding a niche doesn't mean limiting opportunities; instead, it enables businesses to excel in a specific area and create a strong foundation for growth.
The process of identifying the right niche involves thorough research and analysis. Here are seven essential steps to help guide companies in finding their focused direction. They should be ultimately compiled into a single-page document with a conclusion of a few sentences reached per step:
1. Market Research: Start by understanding the broader market landscape. Identify trends, pain points, and unmet needs that exist within the cybersecurity industry. Look for gaps in the market where your expertise can make a significant impact.
An example:
The reporting of cybersecurity risks is too vague (heatmaps and t-shirt sizes) and creates tensions at the board level. There is doubt of preparedness and resilience to potential high financial impact cyber-attacks. Cybersecurity reporting is too technical. Stakeholder understanding would be enhanced if the language of bits and bytes could be translated to dollars and cents.