Phishing Simulation as a Service: Pricing, Results, and ROI

Jay

BLUEFIRE REDTEAM
January 15, 2026

Phishing remains the #1 initial access vector in modern cyber incidents.
Yet most organizations still rely on template-based simulations that test recognition – not real-world risk.

That gap is why more security teams are turning to Phishing Simulation as a Service (PSaaS): a managed, attacker-led approach designed to measure actual human risk, not vanity metrics.

This guide breaks down:

What phishing simulation as a service really is
How pricing works (and what affects cost)
What measurable results organizations see
How to calculate real ROI beyond click rates

What Is Phishing Simulation as a Service?

Phishing Simulation as a Service is a fully managed security testing model where external experts design, execute, and analyze phishing campaigns on your behalf.

Unlike self-service platforms, PSaaS typically includes:

Campaign design based on real attacker techniques
Realistic social engineering and pretexting
Execution without internal setup or maintenance
Risk-based analysis and reporting
Executive- and audit-ready outputs

In other words, you’re not buying software, you’re buying outcomes.

How Phishing Simulation as a Service Works

Most managed phishing simulation engagements follow a structured lifecycle:

1. Threat & Environment Analysis

The provider evaluates:

Industry-specific attack trends
Organizational risk profile
Employee roles and workflows
Existing controls and reporting processes

2. Campaign Design

Simulations are built using:

Real-world phishing tactics (BEC, credential theft, impersonation)
Context-aware pretexts
Role-based targeting
Timing aligned with realistic attacker behaviour

3. Execution

Campaigns are launched quietly and safely, without tipping off employees or disrupting operations.

4. Risk Analysis & Reporting

Instead of just “who clicked,” results focus on:

Behavioral patterns
High-risk roles or workflows
Reporting effectiveness
Potential downstream impact

5. Continuous Improvement

Findings are used to:

Refine future simulations
Improve security awareness where it matters
Support compliance and risk reporting

Phishing Simulation as a Service Pricing: What to Expect

Pricing for phishing simulation as a service varies widely based on scope and realism.

Typical Pricing Ranges

Organization Size	Annual PSaaS Cost (Estimated)
Small–Mid Size	$2,000 – $8,000
Mid-Market	$5,000 – $20,000
Enterprise	$10,000 – $50,000+

These ranges reflect managed, realistic simulations, not basic software licenses.

What Impacts Phishing Simulation Pricing?

Key cost drivers include:

Number of employees tested
Campaign frequency (quarterly vs continuous)
Level of realism (templates vs bespoke pretexts)
Targeting depth (generic vs role-based)
Reporting requirements (basic vs executive/audit-ready)
Red team involvement

Lower-cost tools reduce price by reducing realism.
Higher-cost services increase value by reducing actual risk.

Phishing Simulation as a Service vs Software Tools

Factor	Software Platform	Phishing Simulation as a Service
Setup & Management	Internal	Fully managed
Campaign Realism	Template-based	Adversary-led
Metrics	Click-focused	Risk-focused
Predictability	High	Low (by design)
Audit Readiness	Limited	Strong
Operational Burden	High	Low

Organizations choosing PSaaS typically do so because internal teams can’t realistically simulate attackers without bias or predictability.

Real Results Organizations See from PSaaS

High-quality phishing simulation services produce outcomes that go far beyond training metrics.

Common Measurable Results

Improved phishing reporting speed
Reduced the success of sophisticated social engineering
Identification of high-risk roles and workflows
Stronger alignment between security and leadership
More defensible audit and compliance narratives

Most importantly, organizations gain clarity about where human risk actually exists.

How to Calculate ROI for Phishing Simulation as a Service

ROI is often misunderstood because phishing risk is probabilistic—not transactional.

Direct ROI Considerations

Reduced likelihood of credential compromise
Lower probability of BEC or fraud incidents
Faster detection and reporting
Reduced incident response costs

Indirect (But Critical) ROI

Avoided regulatory findings
Stronger board and executive confidence
Reduced insurance exposure
Better prioritization of security investments

A single prevented phishing-driven incident can justify multiple years of PSaaS spend.

Why Red Team–Led Phishing Simulations Deliver Higher ROI

Template-based simulations answer the question:

“Do employees recognize phishing emails?”

Red team–led simulations answer:

“How would attackers actually succeed here?”

This difference matters.

Providers like Bluefire Redteam design phishing simulations using:

Real attacker tradecraft
OSINT-driven targeting
Role-aware pretexting
Full kill-chain risk analysis

The result is decision-quality insight, not checkbox metrics.

When Phishing Simulation as a Service Is the Right Choice

PSaaS is especially valuable if your organization:

Has already done basic awareness training
Operates in a regulated or high-risk environment
Needs audit- and board-ready reporting
Has limited internal security resources
Wants realism without operational overhead

If phishing represents a material business risk, managed simulation is often the most efficient control.

Common Mistakes to Avoid When Choosing a Provider

Choosing based on price alone
Overvaluing click-rate reduction
Ignoring attacker realism
Running simulations too predictably
Treating phishing as a training problem only

The goal is risk reduction, not perfect scores.

Final Takeaway: Is Phishing Simulation as a Service Worth It?

For organizations serious about reducing human cyber risk, phishing simulation as a service offers:

Better realism
Better insight
Better executive communication
Better long-term outcomes

Software can scale.
Expertise reduces risk.