Ransomware attacks cause an average 16-day outage and can cost organizations hundreds of thousands to millions in recovery. The speaker argues that cybersecurity spending is justified because potential losses far exceed the investment, yet many clients still view protections as too expensive.
If you're hit with a ransomware attack, and of course you need to make sure they know what a ransomware attack is, then the next question is, did you know that it would— on average, it's 16 days of outage time? So if your revenue were cut in half for the month, what would that do for you? And then just the recovery time. And it's not like you're going from 0% to 100% after 16 days. You got multiple weeks of slowly getting back into operation. You're talking about losing hundreds of thousands, if not millions. So how is putting the right things in place too expensive? Again, we're stacking up against things that are way too important not to. So I think that's a, that's a helpful way to get clients to understand it's not too expensive. And if you've seen the whole blue ocean, red ocean marketing research that came out, I think it was in the '90s, this idea of like security is a blue ocean right now. Like clients don't know what they should be spending for cyber. And so what they look at and they say, well, that seems expensive because I don't know what I should be paying for.
