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Business Trends Every MSP, And MSSP Must Look Out For In 2021 & Ahead
Brad Slavin | Mar 12, 2021
Managed Service Providers are the backbone of the IT industry currently. They provide a myriad of services that assist organizations in focusing on their strengths. One of the reasons why the concept of a Managed Service Provider (MSP) came into being is the presence of the numerous verticals that appeared on the tech horizon. Large organizations were finding it difficult to manage all the functionalities that went into running an enterprise effectively.
The appearance of dedicated software vendors appeared on the scene, starting with the Value Added Resellers or VARs. An MSP is the advanced form of a VAR. The only difference is that a VAR would stop at selling an improved version of legacy software, while an MSP would provide a service. And an MSSP (Managed Security Service Provider) is an MSP that specializes in extending help with cybersecurity needs. The objectives of both MSPs and VARs remained the same: to provide their clients with solutions that would increase their productivity. There are multiple types of managed services ruling the technological world currently.
Mistakes MSPs And MSSPs Are Making Currently
Despite the MSP-rise, certain deficiencies have crept in that need to be checked. Finding a solution to such problems is necessary for the MSPs to compete in technology’s insanely competitive world. The following are a few of the visible weaknesses of MSPs and MSSPs.
Lack Of Marketing
A lack of marketing will surely ring the death knell for any organization, let alone an MSP. Every scalable growth is based on the clients knowing that a provider that can fulfill their expectations exists. In 2021, this factor is something many MSPs need to know. It doesn’t matter how long an organization has existed. To remain in business, one has to keep on hitting the hammer and fill their pipelines. It is pertinent that MSPs and MSSPs showcase the features they deploy, such as anti-phishing services and ransomware protection suites. If it isn’t happening, they are going nowhere.
Multiple Marketing Channels Ignored
For a marketer, the marketing channels are the theater. It is here that they make or break a deal. However, it has been observed that many MSPs make the mistake of putting all their eggs in one basket. This practice is a recipe for disaster. It may work a single time, but multiple marketing channels have to be chased for the leads to roll in. Numerous managed services examples are not doing it right marketing-wise and need to pull their socks up.
Missing Brand Awareness
Brand awareness campaigns do not generate revenue. There is no Return on Investment (ROI) on a brand awareness event. Then why does someone run it? The sole reason for it is spreading the news of the existence of a brand. It is designed so that the vents that are created to generate ROI are adequate. Brand awareness plans fail because a large-scale revenue generation is expected out of them, which is incorrect. The only way an organization can establish itself is by making other organizations aware of their presence. MSPs work in a tight-knit community of service providers. Hence, they must advertise their existence in the market.
Copying Other Organizations
No two advertisements can be the same. If it is, then there is a severe issue with the creative team. Also, copying your competitor is not just silly but indecent too. What works for their image may be detrimental for you. The idea of advertising for a service is intended to let the client know and understand the capabilities. It becomes confusing if the advertisements become similar or begin to look alike.
Business Trends For MSPs And MSSPs For 2021
The pandemic has shaken up the business opportunities for MSPs and MSSPs. The future looks prospective as industries across domains are looking to ramp up their technology needs. A few of the business trends that could keep MSPs engaged for the coming years are given below.
Co-partnered Responsibilities With In-House Teams
The pandemic has shrunk the world. An employee to be physically present at a workspace is no more compulsory in many situations. It has led large organizations to outsource a part of their functionalities to MSP companies. The current transformation is based on the fact that the new normal is no more limited to geographical or physical boundaries. IT teams are co-managing responsibilities with MSPs in the house, which will become a norm for the future.
Manifold Increase In The Security Needs
With the advancements in technology, cyber-attacks have also become sophisticated. Phishing attempts that have been existing for a long time are at their peak today. The pandemic has provided a new lease of life to malicious actors, targeting hapless users, promising them vaccines to solicit funds to fight the virus. There has been an increased need for email security services since enterprises have realized that secure email gateways are the initial steps towards network security. Malware planted by malicious actors can affect entire organizations and business lines. Services like email hosting, email archiving, and email forwarding are now being bought under the ambit of email security services, something MSSPs provide.
Support Beyond Office Hours
With work-from-home schedules and 24×7 businesses, organizations must have watchmen and cyber guards, protecting them round the clock. While conventional organizations have a fixed routine, the back-end functionalities will have to be maintained irrespective of the watch. It is one of the areas where the importance of MSP IT grows. They provide a workforce across time zones to maintain and support the network and all its affiliates without a glitch.
Long-standing Corporate Contracts
MSPs have seen a growing case of clients sticking by for a long time. In these testing times, nobody would want to search for an individual subject expert, and hence contracts are getting renewed. It has also got to do with MSPs upskilling themselves, staying ahead of the learning curve, and taking challenges head-on. Managed Service Offerings have increased manifold, thanks to the contracts.
Increase In Cloud Services Consultancy
Cloud services have been among the new entrants in the world of technology, and while most organizations are going ga-ga over it, many don’t understand how it works. Through their niche business models, the MSP email security have been able to grasp the technology and take advantage of the cloud revolution. MSPs should be able to provide cloud-related consultancy and services at affordable costs.
MSPs and MSSPs are the flavors of the moment, and their stature will keep growing in years to come. Their expertise and abilities make them a permanent part of any venture. The year 2021 is crucial since the world is gradually coming out of a devastating health outrage, and businesses are slowly finding their feet. In this scenario, organizations must take maximum precautions. With the world becoming more technologically intensive, there will be a more significant proliferation of all types of managed service providers.