Enterprises and consumers have deep-held concerns about data security, particularly in the face of stringent emerging data protection regulations and high-profile data breaches in the media. Fortunately, recent research suggests the battle to convince business customers that public clouds are more secure than traditional on-premise servers or private clouds is gradually being won.1
The continuing trepidation about data protection, alongside the growing conviction that Cloud Service Providers (CSPs) are a secure data solution, represents a unique opportunity for CSPs. All they need to do is convince businesses of their peerless data security credentials. The question is, how?
The Right Security Strategy
CSPs no longer need to educate customers on why they should care about security. Widespread and frequent reports of large-scale criminal operations’ attempts to steal, intercept, encrypt, and manipulate the data of businesses bring this issue to the forefront.
Meanwhile, the European Union’s General Data Protection Regulation (GDPR) provides further incentive for businesses to step up security efforts. The legislation, coming into force on May 25, 2018, places increased responsibility on organizations that handle or process the data of EU citizens to keep it safe.
Enterprise customers and consumers need help understanding how they should approach security. They need information, assurance, and peace of mind. It’s clear that CSPs need to devise strong security-related offerings and services in the marketplace to win and retain customers.
Here are three strategies for building differentiated services that could help convince businesses of a CSP’s security credentials, as well as being potentially significant profit generators in their own right:
1. Premium Security-Optimized Services
A premium security-optimized service could be a fast route to differentiation and increased profits. A higher level of security for customers might include end-to-end encryption, hardware-enabled security, and data tagged for geo-location. An offering like this is likely to prove particularly attractive in the GDPR era.
2. Specialized Security Features for Specific Markets
Certain industries have intensive and highly-specific security demands – healthcare, financial services, and parts of government to name a few. There has been hesitancy in these industries to embrace public cloud services because of the strict regulations around data protection, security, and privacy. So, if your cloud-services business already has a presence in these sectors, building bespoke, security-optimized products could be a profitable route to creating a competitive edge.
3. Security Consultancy Services
Most CSP customers need to gain a better understanding of security in the public cloud, including around technology and processes. A CSP that is able to offer comprehensive consultancy in these areas could provide a valuable and profitable extra layer of service to its customers and help minimize security challenges.
Chasing the Opportunity
The race is on to become a trusted provider with strong security-enabled services in the marketplace. CSPs that focus on leading the industry in data protection have the opportunity to build a new level of trust with their customers and grow their business into the future.