Research reveals the state of cybersecurity investments, along with the sources and content that influence buyer awareness and purchasing decisions
Global B2B tech PR and marketing agency, The Hoffman Agency, today launched new research revealing the impact of AI cyberattacks on the cybersecurity buying landscape and what now influences vendor selection. The report, Fast decisions, high stakes, highlights that, despite many organizations planning to invest in securing their AI models in the next year, there is also a focus on the cybersecurity “basics”.
The usual process of awareness, longlisting, shortlisting, and decision being streamlined to make a decision quickly, getting messages out and fast has never been more important for marketing teams.”
— Florie Lhuillier, Head of Cybersecurity & SVP at The Hoffman Agency
The study, conducted by Coleman Parkes Research among 500 cybersecurity decision makers in the U.K., U.S., France and Germany found that 67% of organizations have plans to increase cybersecurity investment in the next 12 months, while 62% are looking either for a new provider, or to switch their current provider. The top three solutions for new investment are AI security, Security Operations and Identity Access Management while Network Security, Endpoint Security, and Security Analytics are those most likely to be replaced.
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While reducing costs and coping with talent shortages are driving some to invest in new solutions, the most common reason is simple: 55% state they’re investing because of “the need to respond to threats.” These threats are, as we might expect, phishing, malware, ransomware and social engineering. The need to “secure AI systems” is the second biggest reason for 38% of respondents globally, jumping to 48% in the U.K.
“Like many, the cybersecurity industry has had to adapt to AI adoption and advancements, geopolitical tensions and economic uncertainty over the past year. Naturally, this is having implications on how organizations address their cybersecurity investments. But surprisingly, not how we thought it might. The market remains buoyant for all types of cybersecurity solutions and services,” said Florie Lhuillier, Head of Cybersecurity & SVP at The Hoffman Agency.
The buying journey
Clearly, organizations see the next year as one of changing priorities, which is good news for vendors. However, the key to making the most of this market and being selected for RFP processes is to better understand the buyer journey. Key findings include:
• Cybersecurity buyers making purchasing decisions quickly – On average, cybersecurity purchases take 7 months from need identification to vendor selection across all countries surveyed. But most (55%) take less than 6 months. Given the level of investment, these are fast decisions.
• Vendor engagement occurs early in the buying process – 65% of potential buyers make contact with vendors before the shortlisting stage; just 9% wait until they are making a final decision to get in touch.
• Buyers are relying on LLMs for both initial research and final selection, along with various sources and channels –The top four sources/channels of information for initial awareness are direct peers (35%), industry analysts (32%), industry events (28%) and industry trade media (26%). For final selection, the top sources are similar: industry analysts (23%), industry events (23%), direct peers (22%), and management consultants (22%). A fifth are also using LLMs for both awareness and selection and even more so in the U.S. (24%).
• All content types, both short and long-form, are influential – The top four content types for final selection are industry analyst reports featuring the vendor (39%), a conference panel from a vendor (32%), case studies (29%) and LLMs (29%). LLMs feature again here, higher than popular marketing techniques such as email marketing, but below case studies and webinars. It’s even higher for the U.S. (30%) and the U.K. markets (34%). This complicates matters for marketers, who need to provide the materials that feed LLMs, not just the material that buyers are engaging with directly.
• Easy integration and value for money have the biggest impact on vendor selection – 89% agree value for money and a simple and easy integration will drive decision-making the most, yet evidence of delivering for similar businesses follows closely behind (87%). However, it’s important to note that “value for money” is more important than “cost effectiveness”, showing that buyers are happy to spend if they feel it is worth it.
“The usual process of awareness, longlisting, shortlisting, and decision being streamlined to make a decision quickly, getting messages out and fast has never been more important for marketing teams. However, as we’ve seen from the research, there is no marketing “silver bullet”, concludes Florie Lhuillier. From opinion articles and podcasts to industry analyst reports, buyers are influenced by everything. Cybersecurity marketers should therefore design an integrated marketing strategy that uses a mix of different channels and content types to reach their target audiences – especially as LLMs become more important and pull in information from all different sources.”
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