{"id":48691,"date":"2023-09-21T11:44:53","date_gmt":"2023-09-21T10:44:53","guid":{"rendered":"https:\/\/www.n-able.com\/?p=48691"},"modified":"2023-09-28T16:31:28","modified_gmt":"2023-09-28T15:31:28","slug":"3-tips-to-help-msps-thrive-in-a-saturated-market","status":"publish","type":"post","link":"https:\/\/www.n-able.com\/de\/blog\/3-tips-to-help-msps-thrive-in-a-saturated-market","title":{"rendered":"3 Tips to Help MSPs Thrive in a Saturated Market"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">One of the things we talk about a lot when discussing the current state of the MSP market is the concept of the Red\/Blue Ocean. In this analogy the Blue Ocean represents a market where there are lots of opportunities to grow and do more business; while the Red Ocean represents a saturated market where opportunities are harder to find.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">When I speak at events across the globe, I can find rooms full of MSPs that think the industry is still a Blue Ocean. Yet, when you ask how many of them are struggling to find new business, lots of them will raise their hands. If we were truly operating in a Blue Ocean this wouldn\u2019t be the case. The reality is that today\u2019s MSP market is definitely a Red Ocean, where new opportunities and business are becoming increasingly hard to find in what we might think of as conventional manners.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Yes, there are a host of end user issues that are playing into MSPs hands, including:<\/span><\/p>\n<ul>\n<li class=\"p2\"><span class=\"s1\">Unparalleled reliance on IT support <\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">The need to support hybrid infrastructures<\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">Growing cyberthreats<\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">IT being the number one expense for businesses after HR<\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">The new reality of the hybrid workforce<\/span><span class=\"s1\">\u00a0<\/span><\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">But there are equally a number of challenges for the MSPs that make capitalizing on these much harder. These include: <\/span><\/p>\n<ul>\n<li class=\"p2\"><span class=\"s1\">Customers expecting there to be no downtime<\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">A growing need to monitor everything in one view<\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">The fact it is becoming harder to find the right technicians<\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">MSPs having to secure both their customers\u2019 and their own networks in the face of a rapidly evolving threat landscape<\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">Commoditization in the space, which is forcing profit margins down\u2014allowing the growing number of MSPs in the space to unwittingly drive a race to the bottom<\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">The growing complexity of securing and managing networks<\/span><span class=\"s1\">\u00a0<\/span><\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">While the right tools and training can help with this, they won\u2019t on their own create a Blue Ocean. To do that MSPs need to rethink their methodology and change the way they market themselves. Here are three things to think about if you want to thrive in a Red Ocean.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Tip 1: Prepare for a changing role for your RMM<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Part of this is about understanding and planning for the evolution of <a href=\"https:\/\/www.n-able.com\/blog\/5-easy-automation-opportunities-to-simplify-your-it-processes\" target=\"_blank\" rel=\"noopener\">automation and how that can drive efficiencies in the organization<\/a>. However, there\u2019s a deeper and more fundamental shift coming in the market over the next few years, and MSPs need to be prepared. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The RMM is going to become a data correlation agent. It will become a component to grab data and tell a whole load of other things what to do. This will effectively turn them into mass orchestration platforms that will likely sit behind SIEM platforms or SOCs.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">MSPs currently don\u2019t go to their RMM and look at the data to see where potential opportunities are to upsell into their customers. But as the RMM\u2019s role changes, this is exactly what they will enable them to do. Using data as a pipeline they can go into their RMMs and look at what a customer isn\u2019t doing with them, combine this with an understanding of their customer\u2019s business requirements, and then use this as a sales opportunity to fill that white space.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">For example, if they have physical devices on site (from servers to firewalls) approaching end of life, this is an opportunity for the MSP to be moving them to the cloud and managing them. This helps the MSP increase their margins, profitability, and scalability. <\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Tip 2: Create a Silo Effect to differentiate your business<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">There is an issue today with the term Managed Service Provider\u2014lots of businesses call themselves managed services providers in lots of different sectors; not just in IT. So, in many ways it\u2019s a redundant term. Yet we see everyone leading with the same thing; they\u2019re all saying they\u2019re the best MSP. We even see on the forums people asking what other MSPs charge in their area, so that they can charge the same. This doesn\u2019t make any sense. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">To create a Blue Ocean, IT services businesses need to create a Silo Effect that allows them to build differentiation in the market. This means looking at the possible entry points into a prospect\u2019s business\u2014whether it\u2019s IT Services, Professional Services, Security, Training, Cloud, or Backup and DR\u2014and then targeting messages specifically to create a business opportunity for themselves in those areas; positioning themselves as specialists in that area. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">For example, DR is not a Red Ocean as data will never be a Red Ocean. This gives you a route in from where you can develop your managed services outwards. Today, for many big MSPs managed services is on a sub menu and they lead with specialisms like cloud provider or security provider to create their Blue Ocean of opportunities.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Tip 3: Partner to fill the gaps<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">The industry used to be focused on the idea of building different programmes to go to market with. In today\u2019s market that\u2019s no longer the case; the focus now is on specialization\u2014understanding the SMB challenges and then building out services from an a La carte menu to support that need. There is no MSP that can do it all in the current market. But that should not be a hinderance, you can still go out and find a company that does SOC or SIEM, and white label that to create your own security program. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">By following these three points and changing the narrative in this way, MSPs can start to create a Blue Ocean for themselves. <\/span><\/p>\n<p class=\"p1\"><em><span class=\"s1\">David Weeks is VP of partner experience at N&#8209;able<\/span><\/em><span class=\"s1\"><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As it get harder for MSPs to differentiate in a crowded market, David Weeks looks at how the industry needs to change its narrative to find new opportunities.<\/p>\n","protected":false},"author":78,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-48691","post","type-post","status-publish","format-standard","hentry","topic-msp-business"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - 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