Throughout my years in the telecom industry, I attended hundreds of workshops, seminars, keynote speeches, and self-help courses designed to help business owners grow their companies and become leaders in the industry or a local market. Some of those companies grew with moderate success, and some failed because of lack of staff or budget. But those that succeeded all had something in common—they were giving back to the community or were involved with charities.
The growing SaaS and Cloud trends are making the IT services market more competitive. In some spaces, like UCaaS or cybersecurity, where there used to be three or four major players, there are now literally dozens of them. Most of the vendors claim to sell through MSP partners and agent channels, but many still keep their direct sales groups active in the market.
These changes push MSPs to be more aggressive with their sales, although we see the trend of losing more deals than winning them among our MSP partners. What causes this situation and how can an MSP fix it?
What happens when you bring on a new service or partner with a new vendor to boost your business?
Every MSP understands that to keep up with the customers’ needs nowadays, they must reach beyond their usual scope of service and add more technology choices to their portfolio. Finding new technology partners isn’t an issue because every vendor today wants to work with MSPs! But signing up with the vendor isn’t enough to get the sales going. In the last month, we have been interviewing our own MSP partners to find the reasons why the pipeline is not growing as fast as we all want. Here’s what we found.
For over the last 20 years in my career, I have realized one thing that agents and programs I worked with had in common. When they brought up a sale for the customer, they barely cared about the solutions but only asked one simple question, “What is the SPIFF?”
For a managed service provider (MSP), providing the most exceptional IT services to clients takes the first priority. However, sales are just as important as your services, and should not slip to the bottom of your priority list.
Does your organization have meetings two or three times a week? Are the problems brought up in your meetings solved in the end, or are they rehashed over and over, week after week?
Get your bottom line up by partnering with specialized solutions providers.
A big part of my job is to interview Managed IT Providers all around the US to understand what drives their decision to bring new services to their portfolio and what those new services do for their business. An interesting fact came up during my recent attendance at the IT Nation Evolve event (formerly known as HTG Peer Groups): Many MSPs add new services, like Cloud Voice, just to keep up with the growing competition.
...to Become a Loyal and Successful Team
In the hundreds of meetings I have with MSPs across the country during the year, there’s one topic that usually stands out regardless of their service portfolio or vertical market: company core values that C-suite would love their teams to live by. CEOs and owners are trying to drive this culture from the top down, feeding the team mission and vision statements and core values. I think this is a two-way street and company culture should be a team effort, not a management directive.
As an HTG Gold Member, we were honored to attend their November meeting in Orlando. This year’s event was especially significant for several reasons. Firstly, the HTG peer groups are now officially a part of ConnectWise events for MSPs all over the world - IT Nation Evolve. Secondly, this event highlighted some new trends and dramatic transitions most Managed Service Providers have to go through in order to preserve and grow their business.
Activate Your Sales Team to Drive New Business
In this article, we’ll be continuing to explore executive vision and the strategic acquirement of new business by Managed IT Services Providers. We’d like to share some more advice on distributing this vision down to the sales teams as they are a moving power for any new business for their companies.