Traditionally, many MSP businesses have relied heavily upon referrals from their current customer base to generate additional prospective clients. For the most part, leveraging referrals serves MSPs well. It may very well continue to be a significant source of new leads for you. But, if you’re counting on referrals to deliver all of your new customers, it’s time to re-think your customer acquisition strategy.
Referrals alone simply cannot enable your business to achieve its full potential. The growth will eventually reach its peak and stop, allowing competitors to make up ground or pull further away.
Filling your sales funnel
To identify and target every opportunity available to your MSP business, you need to build a sales pipeline that includes more than just customer referrals. This means focusing on becoming more effective in looking for growth opportunities within your existing accounts, as well as looking for new sources of leads altogether.
For example, just a few of the simple changes you could consider making include:
- Reviving cold opportunities with prospects — When you “lose out” on an opportunity, do you just immediately move on to the next prospect? Many times, you haven’t completely “lost out,” you’ve just encountered an obstacle or circumstance, such as bad timing.
- Generating referrals from unexpected sources — Current or previous clients are not the only ones that can help generate leads and customer relationships. Third party “influencers” can bring awareness of your MSP to prospects who may have never discovered or given a second thought to you. This means you want to think about how you are presenting yourself and encouraging your contact (outside your client roster) to consider you as an option when looking for managed IT services.
- Personalizing your messaging — No matter what industry or vertical they’re in, clients want to feel like their time and business is valued. Nothing can turn them off quite like a feeling of underappreciation. So, here, it’s all about communication. In a healthy sales process, you’ll keep track of each prospect and customer, as well as their personal needs and concerns. Personalizing your approach will keep them engaged when you communicate with them to ultimately drive greater business outcomes.
Tips for building a sales pipeline
If you’re eager for pointers on how to develop a healthier pipeline, look no further. In the new eBook Strengthening Your MSP Sales Pipeline, Brad Stoller of the PT Services Group shares his advice on how to go about this, and offers specific advice on how to enhance your sales process. Download it today to see your MSP business grow and prosper!
Photo: Dabarti CGI / Shutterstock.
