MSP sales always benefit from co-opting available information toward more effective selling strategies. This can be done to establish a sales forecast which you can use to budget throughout the year, scale out, and generally establish your MSP more sustainably.
How Does Sales Forecasting Work?
You must know how many sales you average annually, what kind of sales they are, what sort of profitability they bring, how much it costs to make each sale, and when sales are most likely to occur.
Additionally, you must know your demographic well enough to determine strategies most likely to affect them, inducing conversion or upsell. The best way to know these things is to incorporate the following strategies:
- Collect data on sales and prospects; consolidate it
- Co-opt best practices from professional marketing companies
- Use competitor metrics to identify if you’re where you should be
Collect Data on Sales and Prospects; Consolidate It
MSP sales should be informed by data, so collect it. Establish systems digital and automated which collect statistics and put them in a single place where all personnel can consult them. The more data you have, the more accurately you can project future forecasts.
Co-Opt Best Practices from Professional Marketing Companies
SEO groups that regularly facilitate solutions technology companies benefit from help such businesses identify tactics will be most effective. Consider working with such groups to help determine where you can expect forecasts to be.
Use Competitor Metrics to Identify If You’re Where You Should Be
Competitor metrics from MSPs similar to your own additionally reveal what kind of sales you can expect to make on a regular basis and when those sales are most likely to occur. Keep an eye on competitors and estimate their metrics when you can’t attain them directly.
Establishing Accurate Sales Forecasts
MSP sales forecasts require data. Collect that data, consolidate it where sellers can access it, work with professionals to avoid reinventing the wheel, and keep an eye on competitors. Such tactics should help you construct sales forecasts that are increasingly accurate.