Validating the Australian SME Market Potential for a Unique Cybersecurity Solution

In an era marked by increasing digitalisation, the importance of cybersecurity is growing, especially for small and medium-sized businesses (SMEs). It was against this backdrop that Cyber Steps, an outsourced cyber risk management solution, approached Virtual Marketers to help validate their service and determine how to bring it to market.

Approach

Cyber Steps, powered by CyberWorqs, is designed for SME organisations who lack the in-house resources and expertise to effectively manage cyber risks. As an integrated cyber risk management solution, Cyber Steps specialises in addressing the complex combination of governance, compliance, and cyber risk management, offering a flexible support programme that improves cybersecurity posture and ensures effective risk management. 

Virtual Marketers worked with Cyber Steps to validate their market size and launch this fit-for-purpose service as a new, much needed and extremely relevant service in the Australian market. Our work included detailed research to determine audience size, intent and predicted conversion rates, as well as development of the unique selling proposition (USP) and key messaging to guide marketing efforts. 

Solution

The collaboration between Virtual Marketers and Cyber Steps involved a multifaceted approach to market research, branding, and website development. Here are the key steps and activities we undertook:

  • Comprehensive Market Analysis: We conducted an in-depth analysis of the cybersecurity landscape, including a thorough examination of competitors. This encompassed scrutinising key messaging, evaluating how we could position Cyber Steps relative to competitors, and assessing SEO strategies.
  • Search Market Analysis: To validate the demand for Cyber Steps' services in Australia, we analysed monthly search volumes for relevant keywords. This allowed us to gauge how many Australian businesses were actively seeking solutions in this domain and identify keywords to enhance search engine visibility.
  • Industry Research: Virtual Marketers delved into SME data within the Australian market, exploring the likelihood of these businesses outsourcing their cybersecurity needs. This research aimed to uncover key barriers to outsourcing and ascertain the ideal market segment for Cyber Steps' services.
  • Audience Segmentation: We created audience segments on social media platforms, such as Facebook, Google, and LinkedIn, to pinpoint potential customers. This process involved estimating audience sizes and projecting conversion rates to gauge channel opportunities.
  • Persona Development: With our growing understanding of the target audience, and to refine key messaging and make it resonate with this target audience, we created detailed personas. These profiles provided a deeper understanding of customer needs and preferences.
  • Lean Canvas and Recommendations: Virtual Marketers brought all of this together into a lean canvas, clarifying the USP and value proposition. This one-page document served as a strategic base for subsequent marketing activities. We also presented key recommendations for the next steps in the Cyber Steps launch plan.
  • Brand and Website Development: Based on the comprehensive plan the first cabs off the rank were the creation of the brand identity and website for Cyber Steps. The brand incorporated a clean aesthetic and a distinctive colour palette to differentiate it from competitors. The website was optimised with relevant keywords and key messaging, and features a simple-to-follow booking and payment system for the Cyber Steps program.

Key Outcomes

Our work with Cyber Steps in this initial stage had four key outcomes:

  • Market Validation: Through comprehensive research, we provided Cyber Steps with a detailed understanding of the Australian market that they were looking to help with their service. This included insights into market size, intent, and effective targeting strategies, laying the groundwork for a successful launch.
  • Marketing Strategy: All of our research and validation drilled down to a clear go-to-market strategy for Cyber Steps, which we are working through with the team in an ongoing collaboration.
  • New Cyber Steps Brand: Cyber Steps emerged with a fresh brand identity characterised by a clean and distinctive aesthetic. This branding allowed the company to stand out prominently among competitors.
  • New Cyber Steps Website: The website developed by VM seamlessly integrates keywords and key messaging identified during the research phase. It also incorporates a user-friendly booking and payment system, streamlining the customer journey and facilitating program enrollment.

“Cyber Steps is a program that I’ve wanted to launch for a few years but wasn’t sure if the SME market wanted it. Through their comprehensive research, Virtual Marketers really validated the business proposition and from there they made it really easy to bring it to market.”

- Cindy Lau, Founder of Cyber Steps

Our partnership with Cyber Steps exemplifies how putting emphasis on up front research and planning can pave the way for a successful market entry. With our detailed market research, competitor and SEO analysis Cyber Steps were able to not only validate their market but also establish a strong brand presence and an efficient online platform, setting the stage for their success in the Australian SME cybersecurity landscape.

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