A good Managed Services Provider (MSP) knows everything they do — from choosing the right marketing strategy to managing client expectations — contributes to development and scalability of their business. If you’re an MSP currently looking to grow your organization and boost sales, consider adopting these top 5 practices for managed services provider success.
1: Embrace Growth-Based Marketing
Unlike traditional marketing efforts which focus solely on churning out customers and sales (quantity over quality), growth marketing focuses on qualifying the right kind of customer (quality over quantity). Of course, you’ll still be drawing prospects in to the top of your funnel, but this approach places emphasis on nurturing them over time until they’re ready to invest in your services — making them more likely to stick around. So, rather than pulling clients into your funnel just to have them drop out and disappear, you’ll be attracting, converting, closing and delighting them for the long-term — allowing you to scale up thanks to less client turnover.
2: Automate Processes
Automating your processes as an MSP won’t just add efficiency, it will help propel your business forward. For instance, you’ll instantly have fewer repeatable tasks for you and your employees. Think of how much time you’d save if you could automatically track new B2B sales opportunities, communication with your current and potential clients, service requests and much more. Introducing automation will reduce friction within your organization, giving you an edge over your competitors and making room for increased cash flow and growth!
3: Establish Key Performance Indicators (KPIs)
Speaking of growth, how does your organization measure it? KPIs are the practices on which your business measures its success. This could be anything from how quickly your sales team contacts prospects to the follow-up times on customer questions or concerns. Choosing the right KPIs for your business will allow you to track, measure and improve on areas you deem crucial to your development.
4: Sell Solutions. Not Products.
When it comes to B2B sales, customers don’t buy into products, they buy into organizations they trust. That’s why it’s important to really get to know your client’s business, their customers, their problems and their goals. Actually taking the time to understand your client’s needs means you’re selling more than a product — you're selling trust by offering them solutions to help them grow in efficiency and success.
5: Have A Clear Service Level Agreement (SLA)
The first step to earning and keeping happy clients is to manage their expectations. By establishing a clear and concise SLA (contract), your client will have a straightforward understanding of what they can expect from you in terms of payment schedules, response times, delivery, service, performance standards and more. An SLA won’t just earn client trust either, it’s another example of a KPI that allows you to hold yourself accountable while measuring your success.
Do you have questions about growth marketing, marketing enablement, sales enablement or B2B based inbound marketing? Are you looking for ways to scale your business and drive revenue? Start here to find out more about how we help MSPs rise above the noise!