Businesses are more aware than ever of the need to protect against cyber threats and data breaches and safeguard their digital assets. According to Forbes Advisor, data breaches rose 72% between 2021 and 2023. This growing concern is an opportunity for MSPs to expand their offerings and introduce a new revenue stream in their business: cybersecurity consulting.
According to McKinsey, cybersecurity is poised to become a two-trillion-dollar market. The demand for cybersecurity services is on the rise and MSPs are in a prime position to position themselves as experts in this growing sector. By offering tailored cybersecurity solutions, you can address the specific needs and further enhance their reputation in existing lines of business. It strengthens your existing business and opens up new opportunities.
3 reasons to add cybersecurity consulting to your MSP business
Cybersecurity is important for every business operating online
With the increasing frequency and sophistication of cyber threats, virtually all businesses are at risk of a cyberattack. These incidents can lead to costly financial losses and reputational harm in lost trust and deals. This means that regardless of niche or industry served, MSPs have an opportunity to help their clients stay secure and minimize threats to their business and loss or breach of sensitive information. Offering these services proactively to clients boosts trust and helps then see the value in using an MSP beyond the provisioning of licensing or equipment.
For example, regulatory requirements can be ever-shifting. Small businesses without large teams may not have the time or the know-how to keep up with best practices for safeguarding their own businesses or operating in compliance. Many industries are also subject to stringent data protection regulations like GDPR, HIPAA, and CCPA. Failing to comply with these regulations can result in hefty fines and legal consequences, but even many enterprise organizations struggle to know whether they have the right cybersecurity compliance protections in place.
Offering cybersecurity consulting allows MSPs take some of the difficult work of maintaining compliance and staying up to date with the best tools and practices off your clients’ plates. You can also ensure they’re proactively staying ahead of new types of attacks and updating their tech stack accordingly. This includes regular security assessments, threat intelligence, and incident response planning.
You have a high level of trust built with your existing client base
MSPs already manage a significant portion of their clients’ technology infrastructure and are well-positioned to make recommendations about how to improve security. This trust positions you as a reliable partner who can offer additional services that will further enhance a client’s operations. When clients see the value in your existing services, they’re more likely to be receptive to new offerings that can provide even greater benefits.
Leveraging this trust, MSPs have a unique opportunity to up-sell or cross-sell additional services. If you’re already managing a client’s network, you can introduce advanced cybersecurity solutions that offer even more robust protection. Clients who trust you with their core operations are more likely to invest in additional services. You can also cross-sell complementary services like cloud solutions, data backup, or disaster recovery plans. By presenting these services as natural extensions of what you already provide, you can make a compelling case for why clients should expand their engagement with your MSP.
Offering these additional solutions deepens trust with clients. When clients see that you’re proactive in offering solutions to address their evolving needs, it reinforces their trust in your expertise and commitment to their success. This builds brand loyalty and customer lifetime value.
Opportunity to reach new client base
Expanding beyond traditional MSP services offers the opportunity to reach new client bases and, in the process, expand your MSP client roster. Enterprise organizations might already have managed IT infrastructure, but they want an outside set of eyes to audit their current stack or provide additional recommendations. Offering specialized cybersecurity consulting lets you attract these businesses and demonstrate your value. If you can show your value as a consultant, then it builds the trust needed to move subscriptions over to your service.
Additionally, offering cybersecurity consulting enhances your market reputation and positions you as a versatile and comprehensive service provider that goes beyond the scope of other MSPs. Businesses are more likely to trust a provider that can address a wide range of IT and security needs. This trust can also lead to referrals and recommendations. Even if a cybersecurity client isn’t moving their stack over to you, they may still refer new MSP business over to you.
9 cybersecurity consulting offers you can add to your MSP business
Security audits and assessments
Conducting thorough security assessments helps identify vulnerabilities and weaknesses in a client’s IT infrastructure. By evaluating their current security measures, you can provide actionable recommendations to enhance an organization’s security posture. This service helps businesses understand their risk exposure and implement effective mitigation solutions.
Incident response planning
Incident response plans help clients proactively prepare so they can act strategically in real-time if a security incident occurs. This service includes creating detailed response protocols, conducting regular security drills, and training an organization’s staff on policies. This service minimizes impact and helps companies stay alert and prepared if an incident does happen.
Managed detection and response
Managed detection and response (MDR) services involve proactively and continuously monitoring a client’s network for potential threats so response plans can be enacted as quickly as possible. MDR services provide clients with peace of mind if they don’t have someone internally that can monitor their systems.
Compliance and regulatory consulting
As we discussed, compliance standards are ever-changing and are hard to maintain, even for industry leaders. Compliance and regulatory consultants help their clients ensure their security and policy standards comply those of regulations like HIPAA or GDPR. It’s an aligned service for an MSP to offer if they’re already specialized in a particular field.
Vulnerability management
Vulnerability management services involves identifying and addressing security vulnerabilities within a client’s IT environment. This includes regular vulnerability scans, patch management, or remediation efforts. Proactive management reduces the number and impact of threats.
Security awareness training
Consulting can also be education and training. Many organizations don’t have the resources to create their own security awareness training for their teams, so providing workshops or online courses from external consultants is an easy way of solving this issue. MSPs can offer these services to clients to help their employees stay vigilant against threats.
Cloud security consulting
Cloud security consulting assesses and secures cloud infrastructure by implementing best practices and monitoring for threats proactively. This service helps clients protect their data and applications in the cloud from breaches.
Endpoint protection and management
Endpoint protection and management helps keep physical devices like laptops, desktops, and mobile devices secure. There are a variety of strategies that can be used from zero-trust network access to multi-factor authentication. By securing endpoints, businesses can prevent unauthorized access and protect sensitive data.
Penetration testing
Penetration testing simulates cyberattacks to identify and exploit vulnerabilities within a client’s IT environment. This allows MSPs to identify vulnerabilities in their clients’ security systems and recommend products and tools to mitigate these vulnerabilities.
Do you need to know how to code to be a cybersecurity consultant?
MSPs don’t necessarily need to know how to code to become cybersecurity consultants. For example, regulatory compliance requires little to no actual coding knowledge. MSPs can also do white-label referrals. An external contractor carries out the actual consulting, but they work under the banner of the MSP’s brand. You can negotiate a fixed fee or profit share with the external consultant.
Knowing how to code is a valuable asset, but you can get started by offering non-technical services and learning to code or expanding the team to offer expanded services with time. Cybersecurity consultants come from diverse backgrounds, including IT, network administration, and even law enforcement. They bring a wide range of skills and
Cybersecurity consulting for Microsoft products
With the increased frequency of cyber threats, offering specialized cybersecurity services tailored to Microsoft products can attract new clients who are specifically looking for robust security solutions within the Microsoft ecosystem.
Microsoft has a variety of methods to help clients maintain strict security standards. With the rise in popularity and adoption of Copilot for Microsoft 365, security is more important than ever. A HackerOne survey revealed that nearly half of security professionals think AI is a risk and these fears may be the reason that some MSP clients are hesitant to adopt Copilot in their organisations. Ensuring that clients have a robust security foundation for Copilot and other Microsoft products can ease these concerns.
Microsoft has security tools available to help clients stay secure. For instance, Microsoft Defender is designed specifically for SMBs to help them build this security foundation. However, if clients are simply looking for the office suite, they may not know that Microsoft can also protect their business from cyber threats. Helping clients choose the right products for their specific needs is the base upon which you can build in other cybersecurity consulting offers. As an MSP, it is your responsibility to help your clients address blindspots in their security stack.
Securing Microsoft tools is a joint effort. While Microsoft is responsible for securing the infrastructure and services, customers are responsible for securing their data, identities, and devices. Keeping Microsoft 365 products secure is an ongoing effort that some clients may not have the bandwidth and resources for. As their Microsoft provider, you’re well-positioned to help them keep up their end of this shared responsibility.
By providing expert advice and tailored solutions, cybersecurity consultants can help businesses align their security measures with the latest standards and recommendations. Even the implementation of basic guidelines like those in Sherweb’s minimalist security checklist for Copilot can open the door to a larger conversation about how to help an MSP’s clients stay vigilant.
Choosing the right products in your cybersecurity consulting business
Choosing the right cybersecurity stack to go along with your cybersecurity consulting services will depend largely on industry and complexity of security requirements. Industries like healthcare, finance, or law that have stringent guidelines around confidentiality and privilege will need a higher level of protection than a beauty salon.
Knowing how to tailor your stack to your clients can be a tricky endeavor. As a trusted partner for MSPs, Sherweb can help you decide which tools are going to be the best fit for your specific clients. Contact us to start a conversation.
