When it comes to MSP marketing, time is money. Your sales staff only has so much time to convert target clients into actual paying clients. If you can determine whether a prospect is legitimately interested in your services, you will save plenty of time, effort and money.
Intent and Power
When engaging a prospect, a sales professional must determine if there is an intent to pay for the services and the power to make the decision. Legitimate prospects have the agency to close deals and the need for the services your group provides. The following prospects either lack intent to buy, purchasing power or both of these critical factors.
A business that is hiring will inevitably end up with job-seekers posing as potential clients. They might even sign up for a trial in a covert effort to snag a job interview. These aren’t legitimate buyers. You can flag them by asking why they signed up for the initial trial or reached out to your sales team. Furthermore, your sales professionals should be wary of students. Anyone with .edu email address is likely trying to score a job upon graduation. Some students are simply conducting research for an academic project and have no interest in your services.
Plenty of competitors will pose as seemingly legitimate customers and ask all sorts of questions of your MSP marketing team. Unfortunately, these shady characters are difficult to identify. If a potential client’s questions are overly detailed and go beyond the extent of a typical buyer, he might be an undercover competitor. Questions centered on issues beyond how the services will solve business problems is another tell. As an example, questions pertaining to upcoming features, company funding or the number of employees at the business are signs the alleged prospect is a phony.
Some prospects will bypass your company’s fee structure and roll out an absurdly low offer. Cheapskates aren’t worth your sales staff’s attention. They do not have a legitimate interest in your offerings. Rather, they are looking for the best deal. So don’t waste your time answering a seemingly endless string of questions about price. These low-ballers are looking for a discount or angling to obtain services for free.
Dead on Arrival Prospects
Some prospects are dead on arrival (DOA) as they have already selected a solution yet are still willing to burn through your sales staff’s time. They are conducting research as they are following a process or protocol. In many instances, DOA prospects haven’t gotten the price they desire at another provider so they reach out to you for a quote. This quote is subsequently used as leverage during negotiations with other providers. You can spot DOA prospects if they admit to researching other services, do not have decision-making power, can’t say how long it will take to make a decision and/or ask for a quote with the lowest possible price.
Hobbyists are not in the market for a true solution. Rather, they are looking for an expert to answer questions. Do not appease them! Avoid answering their questions. Take control of the dialogue to determine if this prospect is legitimate or a hobbyist. Ask what their title is, how large their team is, and what exactly they are attempting to accomplish.
A slow burner is committed to a contract and does not have the power to act in a timely manner. Rather, they are simply preparing for a possible transition to another service provider in a year or two. Don’t spend too much time with slow burners. Find out if they are committed to another service provider. Determine the style of plan they are on. If they can’t escape their contract, be brief but keep the door open for future business.
Don’t waste your MSP marketing team’s time on weak prospects. Follow the advice outlined above and you will maximize your time by keying in on prospects that have a true need or desire for your services. These are the prospects worth your sales team’s time and effort. Zero in on these legitimate candidates and your conversion rate will spike in surprisingly little time.