MSP growth is organic right now. The demand is growing at a rate of knots. If you are an Managed Service Provider (MSP) or Managed Security Services Provider (MSSP), we look at what can you do to capitalise on this growth and come out on top. Our MSP marketing expertise can help grow your business.
First off, the market is extremely competitive and fragmented. Expect consolidation. That is almost a given. There are already companies that have grown out of acquisition and that trend is set to continue.
So, the MSP that performs good marketing and cultivates a market position is more likely to be the one acquiring competitors or will have established brand value.
Video will play a key role in marketing your MSP. This is an important channel to build perception, thought leadership, physical evidence and an emotional audience engagement. Take time to think out a strategy here. Simply talking about your products and services will not cut it.
The security opportunity for MSP
For a traditional MSP delivering remote monitoring and management of networks,devices and applications, overlaying robust security provides an enhanced revenue stream.
There is no doubt the integration of IT and OT create efficiencies and scalability for enterprise. However, this can have a significant impact on their security posture.
Take Industrial Control Systems (ICS) or SCADA as an example. These platforms can often go unsecured or partially secure but are prime targets for attack. To secure this infrastructure of devices that can be in the thousands, requires expertise an ongoing monitoring. Therein likes the opportunity for traditional managed services providers to enhance their portfolio with managed security services.
Yes, there are operational and staffing issues to address but the investment can deliver a healthy ROI.
Uncover your clients hidden costs
For your customers, getting the budget together requires a solid business case. It is your job to help craft this by illustrating the hidden costs associated with managing and monitoring their infrastructure.
Staffing comes up frequently as a key issue. If your client already has the people, why would they switch to managed service model. Here is were you need to be clear about the true cost to the client.
First off, a managed service is an operational cost that can be flexed (to some degree) to match your clients business performance.
Second, staff cost more. The cost of pensions, insurance contributions and then there is the management overhead per operator. This can all add up to north of 25% of the salary of the individual.
Third, when your client switches to a managed service they release a number of technically qualified, often over qualified, people into their business. We all know, and often experience ourselves, the challenge of recruiting qualified and experienced people. By releasing those people to focus on a strategic programme of digital transformation or a customer project, you are supporting your clients growth.
Selling to your clients first
MSP marketing can grow your business fast. It starts with identifying the low hanging fruit. And that is pretty much what you want to do, right? Think of it like a bowling alley. Knock the first skittle down and the others can follow. But you need that lead skittle. That is the low hanging fruit. So how can you do that? The answer is right in front of you.
It is much easier to sell to your clients than to go out and find a new one. The cost of business development and the challenge of establishing new relationships can be high. That is why you need to work with the clients you have to find a way to grow your business.
Consequently, offering a suite of managed security services over the top of your traditional monitoring and management, presents the opportunity for business development to thrive.
Now you may have sold almost everything you have to a client and fallen into an account management mode; Managed security services helps reignite the opportunity to grow. How do you do this? Well, consider the supply chain. Your clients supply chain presents a significant risk and is often the weakest link in protecting information assets. So looking at Supply Chain Risk Management can help address those vulnerabilities at the same time as introducing your organisation to new companies.
IDAM want that growth
The Identity and Access Management market has seen significant growth of the years. With the impact of data breach on revenue and reputation, let alone potential fines form the ICO, protecting access to information is a necessity. So the planning, design, implementation and management of efficient identity and access management systems is an area of growth you cannot ignore. Yes, you probably have reached the conclusion that some professional services are required to address this market. And you would be right. That said, you can white label or partner for these. Even the world leaders in IDAM offer independent professional services (admittedly their costs may outweigh your clients budget!) but you can always find a partner.
Secure cloud hosting
You do not need to offer a sovereign List X cloud hosting service but you do need to have the skills and expertise to deploy a suite of security services and applications to support your clients data in the cloud. The client migration to the cloud may have been a challenge, another area for professional services, but the ongoing security issues are a concern.
MSP marketing is dynamic and requires expertise in crafting the right message for your client base. For help marketing your managed service business, get in touch.
B2B marketing and product management is something that has always fascinated me. I got the bug whilst studying for a Master in Marketing at the University of Ulster. Sitting in front of some of the UK’s finest marketing scholars, the notion of marketing in context was a central theme that has perhaps influenced and shaped strategies throughout my career.
Helping a company navigate the challenge of bringing products to existing and new markets is truly exciting. In reality, Marketing is fairly straightforward. What is often needed is experience. Knowing what works and what sucks up your hard won cash.
If you would like to talk about how your business can improve its marketing. Then get in touch. Be great to talk marketing with anyone.