How MSPs Can Make Serious Money With Cybersecurity
Ransomware is an ongoing security threat to organizations of all sizes. Many business owners mistakenly believe that their regular anti-virus or anti-malware software helps protect their networks from ransomware, however, this generally isn't the case. This gives Managed Service Providers, or MSPs, an opportunity to generate additional revenue by providing ransomware protection to their customers.
Here's how your company can make serious money by offering robust security against ransomware to your clients.
Understand How Ransomware Operates
Ransomware works by encrypting your files and then holding them "hostage" until you pay a "ransom" to get the information unencrypted. Often, these files contain sensitive identifying or financial information that creates a sense of urgency in an attempt to pressure the user to pay the ransom before thinking through other possible solutions.
A successful ransomware attack can cost thousands of dollars or more depending on the information that was encrypted, how long it took to recover, and if the data was lost or damaged in the process. Ransomware is particularly dangerous because it has the ability to work in the background completely undetected until enough of your data has been encrypted to shut down your operating system and hold your information hostage.
Choose a Reliable Ransomware Security Provider
The ransomware security provider you choose plays a significant role in ensuring your clients have end-to-end protection from dangerous encryption. Offering security services from providers that haven't been in the industry long or who don't have a solid reputation can cost your company -- and your customers -- a lot of time and money. It's important that you select a well-vetted, established anti-ransomware software provider that offers comprehensive features in order to successfully deploy ransomware protection as one of your offerings.
We recommend CryptoStopper™, a specialized software designed to detect ransomware encryption in less than one second. CryptoStopper™ has been one of the leading ransomware security software providers for many years, safeguarding users from ransomware since its inception by hackers to steal critical data.
How Does CryptoStopper™ Work?
Unlike anti-malware programs, CryptoStopper™ does not look for variants of ransomware that may be running on your operating system. Instead, it deploys decoy files that lure ransomware programs and then watches for encryption activity. This means that CryptoStopper™ is effective even against brand-new ransomware variants that other security software has not yet cataloged.
How Much Does CryptoStopper™ Cost?
CryptoStopper™ is extremely affordable for MSPs, costing less than $1 each for a few thousand endpoints. This makes it easier than ever for MSPs to offer robust, end-to-end cybersecurity solutions in a single package.
CryptoStopper™ offers a wide variety of security features, including but not limited to:
- Easy installation makes CryptoStopper™ plug-and-play
- 24/7/365 security monitoring and response
- Security analysis in real-time
- Included anti-viral and firewall software
- Password and user identity security
- Ongoing patch management with endpoint updates
- Multi-layer defenses
Decide How Your Company Will Offer Customers Ransomware Protection
MSPs can make money by offering ransomware security in one of two ways: either by bundling the software with other security services or by including it as a value-added service with a small surcharge.
Which you should choose depends on your business model, the resources you have available, and many other different factors. Here are some benefits and drawbacks of each and other things you may want to consider before deciding how your company will offer clients ransomware security.
Include Ransomware Protection In Your Cybersecurity Software Bundles
If you choose to include ransomware protection with your current cybersecurity offerings, you inadvertently cut into your profit margin since you're not increasing your prices to make up for the additional cost of the software on the back end. However, a comprehensive security package that includes everything your customers need is an excellent selling point that may draw in enough new business to compensate for the slimmer individual profit margin. This is particularly true if your ransomware security solution is highly affordable on your end.
Provide Ransomware Protection as a Value-Added Service
You can also choose to offer ransomware security to your customers as a value-added service for a reasonable additional fee. Depending on how much it costs your company to provide the software, you can mark this number up to not only cover your base expenses but also widen your individual profit margin.
However, be careful not to increase the cost too far beyond what you're paying behind the scenes for the service. For example, including ransomware protection for customers for just an additional $4.99 may be both affordable for your clients and enough to substantially increase your overall bottom line.
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Contact us today for more information on how we can help provide you with the resources you need to effectively and affordably market your IT services.