Historically, MSPs have struggled with how to monetize the value of managed services to customers. I remember many MSPs using elaborate calculators designed to convince customers of the cost savings they would receive by outsourcing their IT management.

Today, MSPs face a different challenge; how to monetize managed security to customers. Security is separate from basic IT management. Security has an intangible element to it. If a cybersecurity incident hasn’t impacted you, you may not understand the value of securing your IT assets.

However, it may be easier than you realize to convince customers of the need to outsource IT security to your MSP practice.

What Keeps the Insurance Companies up at Night?

Insurance company AIG claims that email phishing attacks have overtaken ransomware as the number one insurance claim. Executives are being singled out as targets since taking over their email accounts can provide the hackers with an even more effective platform to steal information.

For MSPs, this means there is work to do. Ransomware is not going away anytime soon. But, with executives being targeted by spear-phishing attacks, MSPs should have no problem devising and selling effective solutions to companies of all sizes and varieties.

For MSPs struggling with how to communicate value to a prospect, use the data from AIG. 23% of their claims are now coming from spear-phishing attacks. These attacks are targeting executives, which is convenient since they are the ones signing off on these types of strategic outsourcing relationships.

MSPs need to be bold in their knowledge of what is occurring online. Executives do not have the luxury of ignoring the increased targeting of their positions in companies. Because executives frequently have access to vital company information, they are the first ones in the organization who should be employing advanced tactics for protection.