The MSP business model is unique. Relationships with clients are long and the revenue model varied. Sales is not solely pitch, close, and forget.
Instead, MSPs grow business with clients over time, across
a variety of sources: managed service contracts, tailor-made services and projects, and resale of both hardware and software.
This unique dynamic means there is no single marketing or sales funnel responsible for revenue growth. Instead, there are 3 viable and interconnected levers to growth:
1. Strong retention and referrals in profitable accounts
2. Acquisition efforts through sales and marketing
3. Revenue growth within existing accounts
While service delivery and technical competence is a must, to really achieve strong growth over time you as a leader must push your team to be more effective at sales and relationship management. It can be your differentiator.
At BeeCastle work with MSPs to understand how they can grow. We took that knowledge and distilled it into our new e-book It Pays to be Proactive. We have found that across all sizes of MSPs that farming existing accounts is the most underutilised and unstructured growth lever.
The fastest-growing MSPs we have analysed take advantage of a proactive and structured approach to revenue growth within existing accounts.
We believe that too many MSPs are leaving revenue on the table by not implementing a structured approach to upsell and cross sell. Instead, account management is often based on intuition, is unmeasured and uncoordinated, reactive instead of proactive.
The aim of this free e-book is to help MSPs drive more revenue with existing clients. We believe that being data-driven in your approach can increase your overall revenue by a minimum of 10%. In fact, retaining just 5% more of customers can impact your profitability by 25-95%.
Our e-book gives in-depth insight on the most helpful tactics to start growing revenue by implementing a proactive account management plan today, including…
Even successful MSPs can leave simple methods for growth on the table. If either of these indicators resonate, it’s time to implement a structured account management program…
1. Are your sales ‘set and forget’?
When looking at the data, are you struggling to upsell premium solutions or introduce new product offerings?
2. Have you experienced customers churning even though your NPS and/or CSAT scores are high?
CSAT is a good measurement of your service delivery. However, it likely doesn’t reflect the relationship you have with key decision makers or identify the true risk that account will churn.
Part-time effort on your key accounts leads to part time results. It is only through a dedicated focus on managing and farming key accounts that you’ll get overall, strong, bottom-line growth from them.
Download It Pays to be Proactive for free today to learn more about how structured account management can grow your MSP.