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Three Important Steps to Sell Your MSP
The market for managed services is soaring at a rapid pace. Since it is all the rave, businesses seem to be jumping on this bandwagon left and right. Despite the growing demand, many organizations are still not aware of the concept of managed services. If you want to sell your MSP, it is imperative to educate the users about the advantages of working with an MSP, knowing the pain points, and making a pitch as per business requirements.
This content is going to be an awakening call if you are considering selling your MPS to all business sizes.
Steps to Sell Your MSP in 2020
By understanding the type of service and business, selling managed services becomes more effortless. Here are the key points to hit with your every sales presentation.
Focus on the Value
As compared to the break/fix cost structure, many MSPs prefer working on a fixed fee basis. An ongoing fee seems a big deal for those who only pay when something breaks. It is whimsically essential to highlight the value your MSP is going to add. In the long run, you can help organizations save the right amount of money by working proactively with them.
The most important thing to consider is the value proposition or the worth you are going to add to the product. How does your service stand out from others?
Find the Pain Point
When selling your MSP, you ought to find out the problems companies are facing. After identifying the issues, tell them that your MSP solution aims at solving their issues. For effective presentation, show the worth you can bring.
If you are pitching customers who are spending a boatload on traditional on-site storage, it is the time to tell them the way cloud solution decreases the maintenance costs. Besides, do not forget to mention the benefit of flexibility to work and collaborate remotely. Since not all business owners are tech-savvy, IT can be a general sore spot. Explain the method your MSP is going to take off that burden.
Provide the Background
Many times, customers fail to understand what MSPs are selling. In order to remove this barrier, it is imperative to break the complex list of services into sections. Since there are many managed IT services to offer, focusing on the points that benefit specific business needs is the key to sell your MSP. Avoid going into the technical details of each service because not everyone comes from a technical background.
Go through the document systematically in case of a complex contract. It will help customers understand better and agree upon the terms. Showing transparency to your customers will help you skyrocket your revenue and gain goodwill in the market.
Price Your Services
Most of the MSPs fail to attract customers because they charge higher as compared to the competitors. To eliminate this stumbling block, you need to price your services appropriately.
Overcharging the quotes is the surefire way to deteriorate the trust with your potential customers. At the same time, undercharging can lead to customers perceiving the services as low quality. Therefore, charging a fair market rate is paramount to business success. Before going into a sales pitch, do the market research to know what customers can afford to budget.
Master the Cold Call
Referral programs are known for getting new businesses hassle-free. Over the years, experts have witnessed that cold calling is unavoidable. MSPs that master this can scale their business. Outlined below are the tips to help you achieve business growth by making the sales calls go smoothly.
- Avoid the Mistake of Making Hard Sell: If you want to sell your MSP, it is high time to begin the initial call with a simple introduction and a conversation. It will help you know the possibility of interest to set the next appointment.
- Research the Target Audience: Do you know the type of organization you want to serve? It is necessary to prioritize things and reach out to those who fit the profile. Some of the things to research are regarding the size of organizations, geographical locations, and vertical industries.
- The Art of Going from Cold to Warm Calling: Before making the first cold call, use the sales letter to preempt the cold outreach.
- Set Realistic Expectations: MSPs often make the mistake of alluring the customers to speak to them. Asking for permission and being honest in the cold call helps with effective selling.
- Gather Information: You need to understand the managed service needs of customers while selling your services. In order to get the information you need, ask open-ended questions.
If you want to stand out in the hordes of competition, it is necessary to learn the right way to educate customers, build valuable relationships, and be transparent about services and pricing.
Questions To Ask When Selling MSP
Effective selling requires building a strong relationship with customers. As with any conversation, listening to the answers is the way to understand the needs. When the relationship is built rightly, both the demand and sales increase. When you sell your MSP, consider asking these questions.
- What cybersecurity concerns do you have?
- How does network downtime affect your bottom line?
- What is the price you spent on the network or IT equipment?
There you have it! That was the comprehensive guide to help you sell your MSP business in 2020. Consider the above points and perform the necessary groundwork to make your business stand out among the rest.
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