Top MSSP CEOs Share 7 Must-Do Tips for Higher MSSP Revenue and Margin

MSSPs must find ways to balance the need to please existing customers, add new ones, and deliver high-margin services against their internal budget constraints and the need to maintain high employee morale.

In an environment where there are thousands of potential alerts each day and cyberattacks are growing rapidly in frequency and sophistication, this isn’t an easy balance to maintain.

Customers want airtight security, but adding dozens of security tools to scan for and respond to any potential attack often means that specific analysts become experts in specific tools. It’s left to the whole team to manually correlate their findings to discover and respond to multi-layered attacks, and hackers are always finding ways to exploit the gaps in coverage. This is a no-win situation where the analysts are frustrated, customers are dissatisfied, and costs can easily run out of control.

To win in the marketplace, MSSPs must find ways to make their teams highly efficient while driving higher revenues and margins. This means providing the right tool sets, driving higher efficiency through training, and scaling services to build revenue and margin.

In a new eBook (download here), seven CEOs of leading MSSPs share real-life tactics and strategies they used and have helped them to supercharge revenue and maximize margin.

This eBook offers short, actionable advice about how to build services and margins while keeping lean security teams efficient and happy. Contents include:

• Scale your services wisely – Most MSSP customers go through a maturation process during which they become more sophisticated in their understanding of security and the services that provide it. You should nurture this growth process by offering a graduated series of service levels that helps customers move up in the service capability and revenue chain.
• Keep your tools fresh – Evaluate your security toolset at least once a year. Is every tool still delivering the value you expect? Are there now better tools on the market? How might they help you deliver better or more lucrative services?
• Replicate efficiency – Pay attention to how your analysts do their work, identify those that are working most effectively, and then document their processes so others can learn from them.
• Add Virtual CISO services – Many MSSPs don’t offer Virtual CISO services, but doing so enables you to build revenues by layering on new assessments, scans, and related services. A vCISO service establishes a new level of trust between you and your customers.
• And more

There are very few resources for MSSPs, and there’s a lot of noise in the market from vendors promising security nirvana. This asset delivers crisp, clear and actionable insights and examples that can make a big difference in your business. Highly recommended!

Download the eBook here.

Found this article interesting? Follow THN on Facebook, Twitter  and LinkedIn to read more exclusive content we post.