Despite the quantity and sophistication of intrusions, how can MSSPs effectively position themselves in the market? Cynomi offers five ways.
As the volume and sophistication of cyberattacks grows, so does the demand for cybersecurity services. By 2028, the value of the managed security services market is expected to be $56.6 billion.
This means that MSSPs that are able to stand out compared to other MSSPs and differentiate themselves with unique services and capabilities, will attract a growing and more lucrative customer base, despite the crowded market they are operating in.
Yet, differentiation is not an easy feat. It’s hard for MSSPs to provide and showcase exclusive services, especially with low budgets due to slim margins. A lack of cybersecurity experts might even limit their offerings.
How can MSSPs powerfully position themselves in the market despite these challenges?
Below are five methods:
Many MSSPs lack the security personnel to meet SMB demand for cybersecurity services. With a 3.4 million cybersecurity workforce gap, this shortage may not be addressed soon.
Automating security services solves the skills gap. Automated solutions simplify threat detection, incident response, vCISO services, patch management, permissions management, and more. These platforms can be utilised by novices without security expertise.
Automation replaces qualified experts? Automated security platforms simplify security processes. The automated platform will guide juniors and people without security knowledge through the process. You can hire qualified security personnel on an as-needed basis for edge-cases or difficult circumstances.
Finally, automation allows MSSPs to offer more high-value services by providing skills they don't have in-house.
Adding value for your clients is a tried-and-true strategy for differentiating yourself as an external service provider from competing suppliers. This may imply:
Listen to clients to determine their needs, which may differ from their requests. Customise your offerings. Instead of selling stuff, solve their problems.
You may ensure long-term relationships by being an integral part of their team and security plan. A holistic, consultative approach that impacts the business plan may connect you to top-level decision makers and leadership, such as management and the board of directors.
reventing cyberattacks is the best way to keep clients pleased and get budget approval for your services. Prevention will also save your team time.
Incident response will require fewer cybersecurity personnel if cyber incidents are less likely. Automating threat prevention tasks like vulnerability scanning and patch management frees up even more resources for complicated security challenges.
Risk assessments, security awareness training, continuous reporting and monitoring, and security strategy updates based on clients' business needs and network changes can prevent security breaches.
MSSPs need exceptional customer service more than other businesses. Clients must trust their MSSP to help them and take their issues seriously. Thus, outstanding customer service can set your MSSP apart.
Good customer service entails clearly defining the scope of services, setting expectations with customers about the desired level of service, effective communication that keeps clients informed, competent personnel or resources, and the newest security technologies.
Provide regular, consistent, and objective system and strategy status and effectiveness reports. Your client can offer reports to top management to demonstrate your value. To maintain objectivity, a trusted third party may help write reports.
Select vendors that will assist you give such high-quality services and naturally expand on your existing capabilities to continuously deliver exceptional service and illustrate the value of your services.
Businesses choose MSSPs based on price. Competitive pricing can set business apart and attract new customers. It's crucial to maintain high-quality, affordable services. Cutting corners to lower pricing can affect your business.
Reduce manual processes and boost operational efficiency using automated solutions, AI, and ML to offer affordable price without compromising quality. Automation and AI can streamline data entry, analysis, and decision-making. Outsource non-core functions and partner with vendors for products and services.
MSSPs must differentiate to succeed in the crowded cyber security industry. Not all MSSPs have a big marketing budget or use it well. Use automation, vendors, and service delivery to differentiate.
An MSSP can get closer to client leadership by offering strategic vCISO services. This distinguishes them from suppliers who offer simply minimal security. vCISO services exhibit strategic and hands-on security expertise and a willingness to customise and personalise security services for clients.
Cynomi's automated vCISO technology delivers professional outcomes with low personnel and no heavy lifting. You can guarantee a full customer pipeline by offering high-quality security services.