While Managed Service Providers (MSP) may vary in how they do business, some offerings are an industry standard.
At the core of MSP operation are basic level IT infrastructure management and helpdesk.
I’m talking about services such as threat monitoring, regular patching, server support, networking, and system configuration.
Sure, these will guarantee a reasonable Monthly Recurring Revenue (MRR) if you have the right clients. However, if you want to generate more revenue, you must improve your offering, enabling you to charge more for your services.
In this post, I’ll cover 12 services you can offer to set your MSP apart from competitors and earn more.
Additional MSP Services to Maximize Revenue
The more specialized services your MSP offers, the more revenue it can potentially generate.
The following services allow you to charge a premium, bringing in more revenue and better profit margins.
1. Network Management
Network management involves monitoring and controlling a client’s network to ensure everything — in this case, hardware and software —runs as it should.
The service ensures everyone at your client’s organization is productive by accessing applications and data they need, when they need it, quickly.
Your work as an MSP is to stay on top of tasks like monitoring performance, implementing security, troubleshooting problems, and maintenance.
That said, here’s how you can leverage network management to generate more revenue.
Selling cable runs and providing switch management services.
Offering wireless networking services.
Setting up wireless LANs within your client’s organization at an extra cost.
Setting up VPNs for remote network management.
Providing network segmentation services.
2. Cybersecurity Services
Over 30,000 cybersecurity incidents were reported in the U.S. in 2022, according to Statista.
As of 2023, the average data breach cost in the U.S. was $9.48 million, up from $9.44 the previous year.
With such stats, it’s unsurprising that 51% of organizations want to increase their cybersecurity budget.
For MSPs, this means an opportunity to rake in more revenue by ensuring your client’s infrastructure is resilient and secure.
Some cybersecurity services you can provide at an extra cost include:
Running penetration tests to identify vulnerabilities and offer solutions.
Scanning the dark web for potential data breaches and compromised credentials.
Offering comprehensive risk assessments, including HIPAA assessments and threat reports.
Ensuring your client complies with industry standards such as HIPAA and FINRA.
3. Web Services
We’re in 2023, and online presence is more important than ever.
A robust online presence allows a business to influence its prospects' decision-making process. With 7 in 10 customers judging a business’s credibility on its website design, MSPs can hop in to ensure their client’s site provides the best user experience.
Some web services you can provide for an extra buck include:
Web hosting
Website creation and optimization
Content Delivery Network (CDN) integration: Enhancing website speed by distributing content across multiple servers globally.
Website backup and updates.
4. Phone Services
8 in 10 customers will likely return to a business after a positive phone experience. MSPs can help organizations provide a positive phone to foster connection with clients and within the organization.
Some services you can provide at an additional cost include:
Upgrading your client’s communication infrastructure with Voice over Internet Protocol (VoIP) services for cost-effective and feature-rich calling experiences.
Integrating various communication channels—like voice, video, and messaging—into a unified platform to enhance collaboration and efficiency.
Ensuring the security and functionality of mobile devices used for business purposes, protecting sensitive data, and maintaining accessibility.
Moving your clients to modern, cloud-based phone systems for flexibility, scalability, and advanced features.
Offer reliable and high-quality teleconferencing solutions to facilitate virtual meetings, a necessity in the age of remote work.
5. Cloud Services
Migrating to the cloud is the most effective way to maintain and upgrade your clients' IT infrastructure.
You can quickly transition your customers from the conventional on-premise hardware to a cloud solution, providing pay-as-you-go packages and scalable plans.
Some cloud services you can offer, adding value at an extra cost, include:
Facilitating the smooth transition of your client's data and applications to cloud environments, ensuring minimal disruptions and maximum efficiency.
Safeguarding your client's valuable assets by implementing top-tier security protocols, protecting against cyber threats, and ensuring compliance with industry regulations.
Providing expert advice on optimizing cloud resources, minimizing costs, and maximizing performance for a tailored and efficient cloud infrastructure.
6. CIO and Consulting Services
Any business hoping to implement and leverage technology needs the support of a Chief Information Officer (CIO). The good news is that your client doesn’t have to hire an in-house CIO. Besides providing the already mentioned services, you can also act as your client’s virtual CIO.
Here’s how you can grow your revenue by providing CIO and consulting services:
Working with your clients to ensure their IT infrastructure aligns with their business goals. That way, you can help your customer leverage technology for growth instead of an operational requirement.
Helping your customers digitalize their business by leveraging technology to enhance efficiency.
Streamlining vendor relationships and negotiations, helping your customers partner with the right provider.
7. Monthly Managed Services
Monthly managed services involve providing ongoing IT support for your clients. The idea is to establish a monthly recurring revenue, ensuring a steady income stream.
Your client benefits from reliable IT support while you nurture a long-term relationship that guarantees revenue every thirty days.
Some services you can bundle in your monthly managed services package include:
Regular system check-ups, updates, and patches.
Round-the-clock network monitoring to minimize downtime and optimize performance.
Strategic consultation guiding your clients through IT-related technology decisions.
Pro Tip: When providing monthly managed services, offer flexible plans that allow your customers to upgrade or downgrade based on their needs.
8. Support Services
MSP support services can be a lifesaver for organizations. They can help businesses save money and time on technology glitches, avoid unnecessary hassles and frustrations, and improve overall efficiency.
Reliable IT support means organizations can run smoothly, provide stellar customer support, and lay the foundation for growth.
Some IT support services you can provide to your MSP clients include:
Help desk support
On-site and remote support
Break-fix services
Email support
9. Backup and Data Recovery
A 2023 Sophos survey found that 9 in 10 organizations whose data was encrypted managed to recover it. Moreover, 7 in 10 businesses recovered their data from backups.
These stats underscore the importance of data backup and recovery for business. As an MSP, you can help your customer ensure business continuity by providing a backup and disaster recovery solution, charging a premium for the service.
A typical backup and data recovery solution can cater to:
Data security
Recovery and replication
Data management
Ensuring compliance
10. Endpoint Detection and Response
Endpoint detection and response (EDR) involves collecting data, forensics, hunting threats, and forensics. The primary objective, however, is to identify and block potential security breaches that result in service downtime and revenue loss.
Providing endpoint detection and response services lets your customer know what’s happening with their network around the clock. That way, the customer has peace of mind that any attack can be responded to and mitigated before causing significant damage.
Your endpoint detection and response package may include services such as:
Threat detection
Security updates
Virus and malware removal
11. Vendor Management
Effective vendor management enables businesses to optimize relationships with external partners, maximizing efficiency and minimizing risks.
By carefully selecting, negotiating with, and monitoring vendors, businesses can access cost-efficient solutions tailored to their needs.
Vendor management enables your clients to seamlessly integrate new systems into their network, mitigate potential risks, and foster collaborative partnerships.
Vendor management services can include:
Vendor selection
Contract negotiation
Performance monitoring
Risk management
Relationship management
Vendor audits
Dispute resolution
12. One-Time Services
In addition to the above packages, you can also provide one-time services aimed at boosting your MSP's bottom line, including:
New PC setup
Computer tune-up
Software installations
Operating system installations
Server and email setup
Video surveillance and access control setup
Watch the video below for more insights on MSP services you can offer to maximize your success.
Boost Your MSP Revenue and Profit Margins
Besides providing high-quality services to your customers, you’re in the MSP business to make money.
You’ll, therefore, want to take advantage of every opportunity to bring in more cash. Go beyond providing the basic MSP services — figure out how you can deliver more value to your clients and charge for it.
You don’t have to provide all the extra services listed in this post. However, offering more services means you can make more money. So, determine which additional services your MSP can deliver to its customers to add more value and grow revenue.
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