Managing Increasing Cybersecurity Risks

In the first half of 2022, approximately 236.1 million ransomware attacks were reported worldwide. To assess viability for market penetration, the Sowen team worked with Humming Heads, the market leader in Japan, to conduct market research and product audits resulting in:


OPERATIONAL COST SAVINGS IN 2022

$2.5 M


AUDIENCE AND COMPETITOR ANALYSIS TO GUIDE GO-TO-MARKET DECISIONS AND STRATEGIES


In the first half of 2022, approximately 236.1 million ransomware attacks were reported worldwide. This was a significant increase from 2021 figures, which already resulted in over $7 billion in damages in the U.S. alone. Actual numbers, including unreported instances, are likely to be significantly higher. It is estimated that the increase in ransomware data breaches has increased by over 25% between 2022 and 2021 alone. 

Humming Heads is the market leader in the Japanese Cybersecurity market, working with multiple enterprises and governments on the end-to-end auto inscription, detailing user actions, and more. In 2022 the Sowen team evaluated the viability of expansion into the US market. The work included a deep analysis of the company's current products and a comparison to the technological, marketing, sales, and positioning of relevant competitors. The work included a review of current and potential audiences, aligning the current market offering to potential market penetration. Once these fundamentals were established, we advanced to using predictive analysis to prioritize and model returns of potential future initiatives, also creating controlled testing environments. Based on the results of controlled testing, we developed a medium- a long-term strategy that balanced the agency’s mission, editorial, and membership needs with ambitious commercial goals.

The resulting analysis allowed the company to make strategic decisions that saved an estimated $2.5 million in operational costs. It enabled the company to identify key product function optimizations ahead of market introduction. Our recommendations served as the basis for a robust go-to-market strategy, including the identification of key decision-makers, success benchmarks and competitors in the market. 

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