MARKETING INSIGHTS
The 3 Fastest Ways
To Find New Clients , New MRR , And New Opportunities
RIGHT NOW
For most MSPs , 2018 and 2019 were stellar years , thanks to Windows ’ end of life and an increase in data privacy and protection regulations . In fact , quarters three and four in 2019 and the start of 2020 delivered more work than many could even handle — fish jumping into the boat , making for a very lucrative , prosperous period . Of course , now that ’ s not the case , with many MSPs flat or in decline and only an elite few with significant increases in sales .
Although it ’ s cruel and heartless to point out , many ( but not all ) of those who went out of business or are suffering right now brought it entirely on themselves by having no reliable marketing systems , no salespeople to hunt , and their businesses chock-full of “ cheap ” clients . They were dependent on projects and break-fix clients and had no sufficient monthly recurring revenue ( MRR ) and long-term contracts in place .
And while the closures have slowed , there are still many out there barely hanging on or , at a minimum , huddled in a corner licking their wounds . How much they recover and how fast is entirely on them . But here ’ s what I can tell you :
Success in business right now demands 1 ) an aggressive , focused , disciplined effort on sales and prospecting for new clients , and 2 ) going to the marketplace with something of specific and unique relevance and importance to a chosen target market , NOT an ordinary and mediocre product , service , or marketing message . Provide that or perish .
Obviously , if you had marketing and sales systems in place , a quality list , and choice clients , you are starting on higher ground than someone who ’ s neglected this aspect of their business for years , but everyone is having to work harder and smarter right now to secure pre-2020 sales and profits . With that said , here are the three fastest ways to fuel a cash surge and kick-start your marketing efforts in 2021 .
1 . Go BACK To The Well Of Existing Clients And Unconverted Leads .
One of the most overlooked and underutilized areas for additional sales across the board for MSPs is within their existing list of clients and unconverted leads . Most MSPs are woefully underselling their current clients . Why ?
1 . The MSP has a secular “ religion ” that all their clients are cheap , all their clients won ’ t spend money , and all their clients already said “ no ” to _______, whatever blank is . Here ’ s what I ’ ve witnessed : Over 90 % of the MSPs that send out the email campaigns we give them to their clients to upsell and cross-sell additional services ( managed services , phone systems , upgraded cybersecurity protections , etc .) actually get positive responses from clients who are interested and end up buying the service .
2 . Because of the above belief , they don ’ t send any marketing to them and make no attempts to puzzle out a new service or a new promotion to send them . Just because a client says “ no ” today does not mean “ no ” forever . Situations , budgets , and attitudes change all the time . If you ’ re not going back to them several times a year to offer additional services or even the same services , you ’ re missing out on a huge chunk of new sales .
3 . The MSP ’ s marketing is terrible . If you cannot convey the value you ’ re offering or don ’ t know how to communicate the benefits of what you ’ re selling , of course your clients won ’ t buy , end of story .
And finally , another reason for their lack of success may very well be that they aren ’ t delivering an exceptional service and are neglecting their clients by ONLY engaging with them when the CLIENT reaches out with a need . Not good . Remember , your clients can throw a proverbial “ Google ” stone and find 20 or more IT firms who would LOVE to take them as their client . If you truly want to keep your clients and grow , you must invest time into quality communications with regular frequency .
2 . Tighten EVERY Screw In Your Sales And Marketing Funnel .
The Costco-size buckets of money that routinely leak out of most IT services businesses due to 1 ) the gross negligence of capturing any and all inbound leads into a marketing system and 2 ) nonexistent follow-up is almost criminal .
A while back , a client requested an appointment with me to go over the “ failure ” of his website to generate leads .
While I was on the phone with him discussing his website , I completed a form for a lead generation offer he had put up there . After completing it , I received a landing page that still had “ Insert Logo Here ” and bracketed copy to [ Insert Phone Here ] and [ Insert Some Verbiage About Your USP Here ].
8 | MSPSuccessMagazine . com • VOLUME 2 ISSUE 2