Operating your MSP company requires having a strategic approach not dissimilar from that which silhouettes games of chess. In chess, you need to figure out the moves of your opponents in advance. You must anticipate that which will take place in order to win the game. Business is much the same. You need to anticipate the needs of your business in terms of cost, what your competitors are going to do, and where the market is going. You need to be strategic! You need to play business chess.
The following are four tips to help you do this:
Plan in Advance
First, your MSP company needs to plan its moves out in advance. You’ve got to figure out where you’re trying to go, and how to best get there. Find something core to operations which effectively facilitates your business. Focus efforts around that and expand outward. Better strategy will likely yield better profit.
Measure Success of Varying Strategies
Whatever strategies you bring to bear on operations, it is fundamental you measure the results of your efforts to ensure they are effective. If you don’t know how effective a given tactic is, then you don’t know whether you should keep using it. Does providing outsourced tech services vis-a-vis cloud computing make more sense for you and your clientele? You’ll know based on the stats which silhouette this strategy.
Ensure Marketing Operates on an Effective Level
Outbound marketing must additionally be measured to determine greatest effectiveness. You need to try multiple outreach strategies, but it makes a lot of sense to avoid reinventing the wheel. This is one of those things that can be easier said than done; working with agencies who specialize in enabling MSPs can save you a lot of trouble. PPC (Pay Per Click), Search Engine Optimization (SEO), and SMO (Social Media Optimization, are all very effective here— depending of course upon your operational paradigm.
No Expense Should Be Spared Concerning Client Retention
You must keep your clients. Okay, the title of this section is a bit hyperbolic, but you get the idea: you need to retain clients as best you can. Certainly, you’ll have some that ultimately end up costing your business more than is strictly sensible based on the profit they actually bring to your operation. For the most part, though, this won’t be the case. You’ll also find that a lot of issues clients have involve misunderstandings that can be set straight with relative ease. Design retention strategies and employ them.
Your MSP company will likely be more effective if you avoid common stumbling blocks. Retain clients. Measure marketing and other sales strategies, and plan in advance. Such measures will make forward progress more sustainable than it would be otherwise.