Overcoming Objections Deep Dive | #9

Cyberattacks: Are You Really Safe?

?? Objection: "I don’t think my organization is at high risk for a cyberattack."

I get it. Cybersecurity is one of those things that feels like a distant concern—until it’s not. We all like to think we're safe, but cybercriminals aren’t just targeting the biggest fish anymore. They’re coming after all kinds of organizations—healthcare, retail, local businesses, and yes, even MDUs (that's multi-dwelling units for you non-acronym enthusiasts). Let’s take a look at the hard facts from Q3 2024 and see why ignoring cybersecurity could cost you more than you think.

? Impact: In Q3 2024, ransomware attacks targeted 18.6% of the healthcare sector, 14.4% of consumer services and 11.3% of the public sector, according to Statista. And if you think that doesn’t apply to you—here’s a reality check: Colorado alone saw a 58.7% increase in cyberattack victims, with the highest risk score in the U.S. (Kiteworks). If healthcare organizations, which invest heavily in cybersecurity, are getting hit, what makes you think your organization is immune?

But here’s where it gets even more alarming—financially.

???? So What? ???? The true cost of a cyberattack is staggering. Not only can it disrupt operations, but it can also deal a heavy blow to your bottom line. On average, the cost of a data breach in 2024 was $4.88 million (IBM), and that’s just the average. For smaller businesses and MDUs, the damage can be even worse, especially when you factor in:

• Downtime: The longer your systems are down, the more money you lose in productivity. For MDUs, this can mean disruption to resident services like Wi-Fi, critical utilities and more.
• Ransom Payments: The cost of paying ransomware demands, which can range from hundreds of thousands to millions of dollars, is just the tip of the iceberg.
• Reputation Damage: Losing customer trust can result in long-term financial losses. After an attack, residents may worry about the safety of their data, leading to lower occupancy rates and even potential legal battles.
• Regulatory Fines: If you’re dealing with sensitive data (as MDUs often do), the financial implications of violating data protection regulations like HIPAA or GDPR could be massive.

And let’s not forget about the hidden costs—such as the increased premiums on cyber insurance, the expense of improving infrastructure after an attack, and the resources required to deal with the fallout.

Takeaway? Cyberattacks don’t discriminate—they target vulnerabilities, not industries. Whether you’re managing senior living, student housing or luxury apartments, the financial fallout from a cyberattack can be catastrophic. The good news is that with proactive measures, you can reduce the risk and minimize the financial impact.

Invest in cybersecurity now, and it’ll pay off in the long run—because nothing is more expensive than cleaning up after a preventable disaster.

Have you started taking steps to secure your organization? Let’s chat about how we can help safeguard your operations and keep your financial future secure.

????: https://meetings.hubspot.com/hillary34