It’s ironic that cybersecurity, the fastest growing segment of the MSP market and the one that most MSPs want to get involved with, is also the one that has “complexity of products” as the top barrier for MSPs, according to Datto’s recent Global State of the MSP Report 2024.
In today’s tech-driven market, it’s evident: managed service customers seek secure, convenient, and cost-effective access to data and applications. Previously, meeting all three was impossible for MSPs, who had to advise customers to “choose one”. Fortunately, that’s changed; MSPs can now fulfill all of these needs simultaneously and remain highly profitable. However, new cybersecurity vendors often struggle to connect with MSPs due to the abundance of product/service choices available in the market.
Here are eight recommendations from our team at Channel Mastered for security vendors that have a great solution but are having trouble standing out in the crowd:
1. Convey a concise and differentiating value proposition—In a crowded field with thousands of vendors and dozens of sub-fields, what sets you and your solution apart? When working with clients, we always focus on three forms of value:
- What is the value to the MSP’s clients?
- What is the value to the MSP’s operations and technicians?
- What is the value to the MSP’s bottom line?
Your value proposition should answer all three questions in a way that clearly sets you apart from your many competitors.
2. Provide valuable, non-hyped technical and business development education—teach partners not only how to use your system but how to price, sell, and profit from it. Whether it’s white papers, case studies, online learning, or CAM lead coaching, MSPs crave education from their vendors that helps them close deals and make money in the process.
3. Forge strategic alliances with security integration partners—Stand-alone security products aren’t as effective as integrated ones, so create partnerships that make weaving your product into a multi-layered stack of solutions easier. These will also be some of your best go-to-market partners.
4. Focus on integrations with MSP line-of-business vendors too—Security startups too often fail to appreciate the degree to which RMM and PSA integrations are table stakes with MSPs. Establishing those integrations creates more opportunities for go-to-market alliances as well.
5. Build meaningful margin opportunity into your pricing model—Ultimately, the number one reason MSPs add new solutions to their security stack is to grow their bottom line. Make sure your solution’s pricing and discount structure align with that goal.
6. Embrace a “go-giver” mentality with respect to sharing security research and insights—As I’ve written before, trust matters in the MSP channel. Contributing education and updates about new threats and mitigation techniques with the MSP community will earn you that trust.
7. Emphasize automation and ease of use—What MSPs most want from security vendors right now is technology that adds meaningful protection without adding lots of work or requiring lots of expertise. K.I.S.S.
8. Consider adding a managed option, either yourself or through MSSPs—There’s a reason (as my Channel Mastered colleague Rich Freeman has written) why MDR is the hottest acronym in security.
By following these eight guidelines, you can significantly improve your visibility and engagement with MSPs and MSSPs. It’s a proven strategy we’ve employed with our clients at Channel Mastered, and they’ve seen fantastic results.
Are you a security vendor seeking to maximize your potential in the MSP channel space? Contact the Channel Mastered team today. We’ve been a trusted partner to many leading security companies, and can help you navigate this dynamic market as successfully as they have.