KEY TAKEAWAYS

  • IoT is rapidly becoming a huge market adding countless devices to the internet.
  • Security isn’t just a check box; it’s a cultural philosophy that companies must adhere to.
  • It’s critical that MSPs create awareness of the need for security to drive demand from small businesses.
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There’s been substantial buzz in the MSP industry about the need for increased security awareness to create a better culture of security. All this talk about security makes sense. After all, Gartner projected the Internet of Things will have a market value of $20.8 billion by 2020. These IT advancements bring about new capabilities, but also new concerns for organizations, as the need to protect and safely manage their data has never been greater. As an MSP, you’re strategically positioned to capitalize on this protection-focused cohort of customers and turn the “culture of security” craze into revenue for your business. Here’s how to do it.

Hyperfocus on security to reveal weaknesses

Businesses are beginning to reexamine priorities as security awareness grows and new safety concerns arise. In fact, the need for a “culture of security” was a significant theme at the most recent Information Systems Security Association Conference, according to TechTarget. As organizations start to take a closer look at their IT security capabilities and attempt to navigate problems, such as two-factor authentication issues, phishing threats, password threats and more, they’re likely to find weaknesses or vulnerabilities. This is where your MSP business can add value and gain revenue.

Cut through the buzz

Awareness equals demand, and you can create it with the right information and delivery. The first key way to position your MSP business in a place of profitability is to push awareness into the decision-making sects of the organization.

The deeper your prospective customers look at security, the more likely they’ll see a need for managed security services to minimize risk and keep up with threats. Focus on areas of mitigation that would be difficult for businesses to implement on their own, thereby encouraging the need for the expertise of an MSP. In addition, raise awareness of recent cyber attacks and provide case studies that show businesses breaches could, indeed, happen to them.

Turn awareness into action

We’ve discussed how awareness equals demand, but unfortunately, it doesn’t always equal action. You can change that, especially with data on your side. For example, businesses that find MSPs cost-prohibitive might be interested to learn the average consolidated total cost of a data breach grew to $4 million this year, up from last year’s $3.79 million, according to a report from Ponemon Institute. The price of individual lost or stolen records containing confidential data grew to $158 per file, as well.

Your MSP business can incite action by focusing on the overarching culture of security goal, too. Your company plays the role of key advisor, educator and implementer, but you also listen to your clients and employ solutions in ways that will be well-received and easily integrated into the framework of their existing business models. This level of cohesion takes a partnership rooted in trust — a factor highly important when dealing with sensitive data, and one the expertise of your MSP business is apt to provide.

Today, organizations are striving to create cultures of security in lieu of rising cybersecurity threats and the increasing costs of data breaches. If you can push security awareness deeper into the minds of the decision-makers of these organizations, and turn that awareness into action, you’ll find a revenue stream waiting to be tapped.

Daniel Newman

Daniel Newman is the Co-CEO of V3B and the President of BroadSuite Media Group. An experienced C-Level Executive passionate about Strategy who also loves working with entrepreneurs and their small and mid-sized businesses. Prior to launching BroadSuite and V3B, Daniel served as the co-founder and CEO of EC3, a quickly growing hosted IT and Communication services provider. Before that, Daniel held several prominent leadership roles including serving as CEO of United Visual, parent company to United Visual Systems, United Visual Productions, and United GlobalComm; a family of companies focused on Visual Communications and Audio Visual Technologies.

Daniel is also widely published and active in the social media community. A regular contributor to Forbes, Entrepreneur and The Huffington Post, he is also the author of 3 Amazon Best Selling Books including Evolve: Marketing as we know it is Doomed, The Millennial CEO and The New Rules of Customer Engagement. He also co-founded the global online Community 12 Most and was recognized by the Huffington Post as one of the 100 business and leadership accounts to follow on Twitter.