If you ask hosting service providers (HSPs) about their business goals, developing a strong growth strategy is often mentioned as a top priority. To meet goal, many HSPs strive to find a balance between short-term activities to generate more revenue, customers, and improved churn rates and longer-term activities to achieve sustained and meaningful development. Cybersecurity is an area of rapid growth that isn’t going away anytime soon, and investing in cybersecurity can help HSPs meet their short-term and long-term growth strategy goals. That said, it can be challenging to know which approach to cybersecurity you should take. Should you buy a cybersecurity company, build cybersecurity solutions yourself, or partner with a cybersecurity provider? Here are some factors hosting providers should consider to uncover the best approach for them.
When deciding whether to take a buy, build, or partner approach to cybersecurity, there are some key considerations HSPs should take into account in their business growth strategy:
Hosting providers should evaluate which approach fits best within their overall business growth strategy and area of expertise. For example, if you’re looking to implement a new cybersecurity product, does your company have the resources and expertise to build this product? If the product you’re looking for already exists, can you easily add it to your existing product portfolio? Would implementing this cybersecurity product provide added value to your company that you couldn’t achieve otherwise?
There are also organizational factors HSPs should consider when choosing a cybersecurity approach in your growth strategy, which include:
It’s important that you and your cybersecurity partner share the same vision and values and agree on the direction you want to take.
Does your partner have the capability to scale with you to meet your objectives? In addition, confirm they offer a full cybersecurity portfolio so you don’t have to resort to using multiple vendors.
Does your partner have the ability to offer you healthy margins? What upfront or long-term costs do you need to cover, and which costs may escalate over time? Also consider whether they’re willing to work with you and come up with an agreement that best meets your business growth strategy needs.
Deciding whether to choose a buy, build, or partnering approach to cybersecurity is an important decision for many HSPs business growth strategy. In many cases, HSPs ultimately decide to partner with a cybersecurity company. If you pursue this route, remember that a good partnership is one where you are both committed to shared goals and willing to work towards them.
As a cybersecurity provider, partnerships are the route that SiteLock usually experiences. SiteLock offers a full suite of cybersecurity solutions that can help you deliver powerful, affordable security to your customers. For more information about partnering with SiteLock visit our channel partnership page or email [email protected].