{"id":52535,"date":"2024-02-20T12:11:53","date_gmt":"2024-02-20T12:11:53","guid":{"rendered":"https:\/\/www.n-able.com\/?p=52535"},"modified":"2024-02-22T15:55:50","modified_gmt":"2024-02-22T15:55:50","slug":"five-ways-to-ensure-your-msp-has-a-winning-hand-when-it-comes-to-sales-success","status":"publish","type":"post","link":"https:\/\/www.n-able.com\/pt-br\/blog\/five-ways-to-ensure-your-msp-has-a-winning-hand-when-it-comes-to-sales-success","title":{"rendered":"Five Ways to Ensure Your MSP Has a Winning Hand When it Comes to Sales Success"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">According to the recent <a href=\"https:\/\/www.n-able.com\/resources\/the-msp-horizons-report-2024\"><span class=\"s2\">2024 MSP Horizons Report<\/span><\/a><\/span><span class=\"s2\">,<\/span><span class=\"s1\"> that was jointly published between N&#8209;able and channel research specialists Canalys, the largest proportion of respondents (22%) still cite \u2018new customer acquisition\u2019 as the most significant business challenge facing their MSP business today.\u00a0 <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Why is this case? Why do almost one in four MSPs continue to struggle when it comes to sales and lead generation? And what steps can be taken to help improve the situation?<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In my 20 years of working with MSPs in how to move their businesses forward, there are five common themes that I have witnessed in sales. Arguably these are the things that set the top performing MSPs apart from those MSPs that continue to struggle with their overall revenue growth.\u00a0 <\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Five Ways to Maximize Your Sales Success<\/span><\/h2>\n<h3 class=\"p3\"><span class=\"s1\">1. <\/span><span class=\"s1\">Understand your growth model\u00a0 <\/span><\/h3>\n<p class=\"p1\"><span class=\"s1\">There are several different types of growth models I have seen MSPs adopt and have great success with: \u00a0<\/span><\/p>\n<ul>\n<li class=\"p4\"><span class=\"s1\"><strong>Traditional Sales Model<\/strong><br \/>\nThis would be your Owner-led sales structure or a structure that consists of an appointment setter + outside account executive + account manager.<\/span><\/li>\n<li class=\"p4\"><span class=\"s1\"><strong>Business Development Model<\/strong><br \/>\nThis is the sales model that emphasizes networking, attending events, and relationship building to fill the sales funnel.<\/span><\/li>\n<li class=\"p4\"><span class=\"s1\"><strong>Channel Model<\/strong><br \/>\nThis is the sales model that leverages partnerships with other tangential organizations that are excellent at supplying leads to the sales teams. \u00a0<\/span><\/li>\n<li class=\"p4\"><span class=\"s1\"><strong>M&amp;A Model<\/strong><br \/>\nMerging or acquiring other MSP organizations to fuel customer growth.<\/span><\/li>\n<li class=\"p4\"><span class=\"s1\"><strong>Marketing Model<\/strong><br \/>\nLeveraging brand-building and awareness-building marketing activities to create interest in your MSP and spur leads.<\/span><\/li>\n<li class=\"p4\"><span class=\"s1\"><strong>Referral Model<\/strong><br \/>\nRelying on word-of-mouth, trust, and good will from existing customers to encourage other businesses to reach out and engage with you.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\"><strong>Expansion Model<\/strong><br \/>\nLeveraging existing clients for sustained revenue growth via an established and robust account management motion.<\/span><\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">With so many different growth models, it\u2019s encouraging that there isn\u2019t a one-size-fits-all approach to sales. But consistent sales success comes from knowing and understanding which sales model will work best for your MSP and being intentional and purposeful in how the model gets implemented. Those MSPs that I have seen struggle the most, tend to wander aimlessly amongst the different sales paths and use happenstance rather than opt to build a strategy and a detailed plan by which to grow their MSP. \u00a0\u00a0<\/span><\/p>\n<h3 class=\"p3\"><span class=\"s1\">2. <\/span><span class=\"s1\">Understand your Ideal Client Profile (ICP).<\/span><\/h3>\n<p class=\"p1\"><span class=\"s1\">During a recent Office Hours session, I had an MSP reach out and ask me how they can get in front of more small and medium-sized businesses? The first question I responded back with was: \u2018Who are you selling to?\u201d and the MSP exclaimed, \u201cAnyone who will pay me!\u201d\u00a0 <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">While I can understand the fundamental need of engaging with prospects who are willing to pay you \u2018something\u2019, there comes a tipping point when building a <\/span><span class=\"s4\">quality<\/span><span class=\"s1\"> book of business should take precedence over the \u2018pick up every nickel you find\u2019 mentality to sales. Top performing MSPs that excel at sales work from a highly refined ICP that includes structure around:<\/span><\/p>\n<ul>\n<li class=\"p6\"><span class=\"s1\">Company size (employee size and\/or revenue size)<\/span><\/li>\n<li class=\"p6\"><span class=\"s1\">Geography range <\/span><\/li>\n<li class=\"p6\"><span class=\"s1\">Preferred industry <\/span><\/li>\n<li class=\"p6\"><span class=\"s1\">Adherence to certain compliance standards <\/span><\/li>\n<li class=\"p7\"><span class=\"s1\">Set minimum monthly spend <\/span><\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">Those organizations that don\u2019t meet these \u2018new customer criteria\u2019 are either politely turned away or referred to another MSP who doesn\u2019t impose such standards. If cashflow is an issue, it may be scary to turn away a business who is willing to pay you something. However, if that business is difficult or demanding, asking for discounts, or asking you to compromise on your security services to meet some unrealistic, preconceived budget, then this customer is imposing too much unnecessary risk on your MSP and you should let another MSP take them on.\u00a0 <\/span><\/p>\n<h3 class=\"p3\"><span class=\"s1\">3. <\/span><span class=\"s1\">Invest in sales and have a formalized sales structure<\/span><\/h3>\n<p class=\"p1\"><span class=\"s1\">I have had MSPs brag to me that they have been successful in growing their MSP without the need for actual salespeople. But when you dig into the backstory of how they are accomplishing this, it becomes apparent that they aren\u2019t really growing, rather they are maintaining what they have. And there is nothing wrong with this, if this is the type of MSP you wish to operate. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">I know a lot of MSP business owners where their MSP practice is strictly a life-style type business for themselves, and they don\u2019t wish to explode and dominate the industry. However, if your desire IS to build world-dominance (or at least dominance in your marketplace) then it will become necessary to move beyond the owner-led sales model and formalize your sales structure by investing and trusting in sales professionals to take over the sales function. \u00a0<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">What that looks like will depend on the growth model (from point 1) that you decide to pursue. In the beginning, you may wish to invest in a Sales Development Representative (SDR) who can prospect and cold call and book appointments for you, so it takes that activity off of your plate. Or you may decide to hire a more experienced sales professional who is adept at the networking and relationship building to source new leads for you. You may even decide to hire a skilled Account Manager to find whitespace within your clients\u2019 portfolio and build your recurring revenue through customer expansion. Either way, investment in sales will be required if growth is the ultimate objective. <\/span><\/p>\n<h3 class=\"p3\"><span class=\"s1\">4.<\/span><span class=\"s3\">\u00a0\u00a0\u00a0\u00a0 <\/span><span class=\"s1\">Seek support and guidance from your peers <\/span><\/h3>\n<p class=\"p1\"><span class=\"s1\">Don\u2019t feel that you need to go through the sales journey alone. Top-performing MSPs rose to the top by <a href=\"https:\/\/www.n-able.com\/blog\/october-msp-growth-habit-try-something-new-the-power-of-peer-networking\" target=\"_blank\" rel=\"noopener\">building a strong network of peers<\/a> and mentors to help inspire and guide them. And if you don\u2019t happen to have a strong MSP peer network today, we can help get you started by providing you with instant access to over 300 MSPs via our annual Empower Event and roadshows. <\/span><\/p>\n<p class=\"p1\"><strong><span class=\"s1\">This year\u2019s Empower Event is taking place March 25-28<\/span><span class=\"s6\"><sup>th<\/sup><\/span><\/strong><span class=\"s1\"><strong> at the Omni PGA Frisco Resort, Texas and <a href=\"https:\/\/empower.n-able.com\/event\/12f48222-d92b-48fc-ba95-76e57c48a549\/summary?_ga=2.146167027.611019078.1708602164-1413747435.1684775263\" target=\"_blank\" rel=\"noopener\">there is still time to register<\/a>.<\/strong> <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u00a0<\/span><span class=\"s1\">If you are looking for assistance on how to get the upper hand when it comes to your MSP\u2019s sales success, then consider registering for Empower Frisco. With a <a href=\"https:\/\/empower.n-able.com\/event\/12f48222-d92b-48fc-ba95-76e57c48a549\/summary?_ga=2.173889761.337498040.1707749405-2076949529.1673299462\" target=\"_blank\" rel=\"noopener\"><span class=\"s2\">95% satisfaction rating for networking opportunities<\/span><\/a>, this is a wonderful occasion to remove yourself from the daily grind of the office, and gather with other MSPs to collaborate, share ideas, and understand what others are doing well that could potentially work in your business.\u00a0 <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">And there will be something for everyone. Besides our ever-popular motivational keynote speakers we bring in, we are changing up our format a bit this year, where we will be introducing designated \u2018peer cohort\u2019 tracks that are aimed to strengthen the networking and educational components even further. These peer cohort tracks are designed to align with each of the most common roles and responsibilities that make up the bulk of your team and will include a: <\/span><\/p>\n<ol>\n<li class=\"p6\"><span class=\"s1\">Business Owners\/CXO Track<\/span><\/li>\n<li class=\"p6\"><span class=\"s1\">Service Delivery Managers and Operations Track<\/span><\/li>\n<li class=\"p6\"><span class=\"s1\">Service Technicians Track<\/span><\/li>\n<li class=\"p7\"><span class=\"s1\">Sales and Business Development Professionals Track <\/span><\/li>\n<\/ol>\n<p class=\"p1\"><span class=\"s1\">I am excited to be delivering the Sales and Business Development Professionals Track this year, and the goal of this is to help our partners create a better sales motion through the upleveling of skillsets of their MSP sales professionals. I will be joined by three high-performing MSP Business Development Executives who have lived in the sales trenches of this unique industry for years and therefore understand the trials and tribulations of selling MSP services. They have figured out the formula where their <a href=\"https:\/\/www.n-able.com\/blog\/are-you-struggling-to-break-through-the-growth-barrier-with-your-msp\" target=\"_blank\" rel=\"noopener\">MSP organizations are consistently achieving double-digits growth<\/a> year over year. Through unparalleled access to our guest panelists, attendees will be able to leverage their knowledge and extensive industry experience and walk away with actionable nuggets that can be incorporated into their own MSP. \u00a0<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">And these same benefits are the hallmarks of each of our four tracks. Each track will have its own set of MSP industry experts present to share their own best practices and knowhow so that you get the best of both worlds: the thought-leadership you come to expect from N&#8209;able, coupled with the real-world advice and guidance from MSPs who live the MSP-life every day and are willing to share their growth stories. As long-time Empower attendee, Jayson Kiel, CEO of Lockmann Krane International, said best, \u201cThere is no stronger educational experience than the one that can be provided by one\u2019s own peers.\u201d\u00a0\u00a0 <\/span><\/p>\n<h3 class=\"p3\"><span class=\"s1\">5. H<\/span><span class=\"s1\">ave a plan <\/span><\/h3>\n<p class=\"p1\"><span class=\"s1\">You can\u2019t do everything all at once. So for 2024 choose your top three sales initiatives that you would like to implement, and make those three initiatives your priority for this year. Focus on the quality of your execution verses it just being a check-box item for you. Because even though our MSP Horizons Report found that new customer acquisition remains a top concern for almost a quarter of the MSPs surveyed, it also found that MSPs are actually quite optimistic when it comes to their overall growth potential for 2024 where <a href=\"https:\/\/www.n-able.com\/resources\/the-msp-horizons-report-2024\" target=\"_blank\" rel=\"noopener\"><span class=\"s2\">64% of respondents expect at least 10%+ growth in their managed services revenue growth this year.\u00a0 <\/span><\/a><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">So put a plan in place to understand your own growth model and the target client that will work best for you and your market, and then build a strategy for how you can capture some of this growth potential for yourselves. And consider attending Empower Frisco next month to tap into the knowledge, expertise, and insight from some of N&#8209;able\u2019s own top performing MSPs and learn what they are doing and what challenges they have had to overcome to reach double-digit growth for themselves.\u00a0 <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">If anyone has questions on what they can expect from attending Empower Frisco, don\u2019t hesitate to reach out.\u00a0 <\/span><span class=\"s1\">\u00a0<\/span><\/p>\n<p class=\"p8\"><em><span class=\"s7\">Stefanie Hammond is Head Sales and Marketing Nerd at\u00a0<a href=\"https:\/\/www.n-able.com\/?promo=blog\" target=\"_blank\" rel=\"noopener\"><span class=\"s8\">N&#8209;able<\/span><\/a>. You can follow her on\u00a0<a href=\"https:\/\/www.linkedin.com\/in\/stefanie-hammond\" target=\"_blank\" rel=\"noopener\"><span class=\"s8\">LinkedIn<\/span><\/a>\u00a0and on\u00a0Twitter\u00a0at\u00a0<a href=\"https:\/\/twitter.com\/sales_mktg_nerd\" target=\"_blank\" rel=\"noopener\"><span class=\"s8\">@sales_mktg_nerd<\/span><\/a>.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our recent MSP Horizons Report uncovered that 22% of MSPs still cite \u2018new customer acquisition\u2019 as the most significant business challenge. Stefanie Hammond sets out a roadmap for success.<\/p>\n","protected":false},"author":64,"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-52535","post","type-post","status-publish","format-standard","hentry","topic-head-nerds","topic-msp-business"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Five Ways to Ensure Your MSP Has a Winning Hand When it Comes to Sales Success - N-able<\/title>\n<meta name=\"description\" content=\"MSPs still cite \u2018new customer acquisition\u2019 as the most significant business challenge. 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