Pricing and Packaging MyGlue
BY IT GLUE | October 29, 2018
So you’ve got unlimited MyGlue seats. Now, you need to deploy them. One of the first questions you’ll probably ask yourself – or maybe you’ll ask us – is how to handle the pricing and packaging of MyGlue. We can’t give you a definitive answer because everybody’s business is different, but there’s a few different approaches that our partners are using successfully, and we can share those with you.
The Security Bundle (SECaaS)
Some MSPs use MyGlue as part of a security offering, which would include various other tools as well. In most cases, they already had a security offering, and just added MyGlue to that stack. But even if you’re starting a security offering from scratch, a password vault is going to be a part of that. You sell your security package at a set price – probably per seat but it doesn’t have to be – and MyGlue is one of the components that you deploy.
Flat Rate
MyGlue can be deployed to a client for a flat fee, especially if that’s how you price out other offerings. This gives you a little bit of flexibility on the price, and the incremental cost of deploying additional seats for you is zero, because you are also paying a flat monthly fee for those MyGlue seats.
All-in Seat Pricing
This is an approach that we often recommend. The main advantage of bundling MyGlue seats into an all-in seat price is that your clients get MyGlue. This seems funny to say, but ultimately most small and medium-sized businesses have poor password hygiene and many rely on their MSP to handle passwords for them.
When your clients have MyGlue, and are paying for it, they will be more motivated to use it. This is an important step in improving the password hygiene of your clients. If you’ve seen our password horror stories, you’ll know that there’s a lot of excuses people have for poor password hygiene, and a little motivation is sometimes required to overcome that. Once they get using MyGlue, they’ll have strong passwords, changed as often as they like, and their teams will always have access to these passwords. It’s a classic win-win.
There’s still transparency here – if they ask you to break down their seat price, you can show them precisely what component of that is MyGlue.
Per Seat Pricing
The per seat price works similar to all-in, except that the client has the option to pay or not to pay. This has obvious advantages from a customer service angle, in that the client feels that they have some control over what they are buying. The downside is that clients might opt out of MyGlue, unaware of the advantages it offers. Seems crazy, but it’s true. If you use this pricing strategy, just be prepared to counter objections. Secure password storage should not be optional.
No Cost
Some MSPs have chosen to simply deploy MyGlue as a prophylactic measure to all their clients. In a competitive marketplace, if clients are complaining about price, maybe it makes sense to give MyGlue without charge. The MSP will still enjoy savings from a reduction in password reset tickets, and the increased security that a secure password vault delivers. In many cases, these benefits outweigh the cost of delivering MyGlue, so even without charge it’s still profitable for the MSP.
Want to get started on MyGlue? Let’s do it.
MyGlue is a password vault that hosts your clients’ passwords, their proprietary documentation and more. Based on the IT Glue framework, MyGlue helps you become a trusted security advisor. Simple. Smart. Secure.
