MSP Marketing Strategy – 5 Effective Tactics for your Plan
The fasted way to grow your Managed IT Services company is to effectively prepare an MSP Marketing Strategy that attracts hot leads interested in your services.
Sometimes introspection can be difficult, but when creating your MSP marketing plan, it’s critical to do the hard things if you intend to grow. And if you are running an outsourced IT services company, I’d be willing to bed that you are interested in growth.
So, here’s where you start, with a plan. Your MSP marketing strategy can easily be wrapped into a solid plan that you can use to build a larger client base, deliver your services more efficiently, and attain expected growth.
Here are seven tactics that we use when we help Managed Service Providers plan for growth.
Start by looking at your service history
One of the best ways to predict the future is to reflect upon the past. I recommend, at least quarterly, sitting down with your team and discussing your service history from a high level and then zoom in on the details. When you do this, you’ll see how your service delivery is changing over time. You will learn what things are working well for your company and where you could improve.
Take lots of notes and refine everything you learn into the introduction of your marketing plan.
Among the most meaningful data points will be where business is coming from.
What opportunities came from existing clients
Regarding the development of new business, we often think about “hunting” and “farming.” Hunting refers to the efforts involved in finding new clients, where farming is described as the things you do to get more business from existing clients.
Take a close look at how your current customer base has contributed to the revenue from the past 12 months. What sort of services did they request more of? Which clients grew and increased their need for you and consequently were billed at a higher rate.
These things will help you in creating your ideal client profile. One that uses more of your services over time.
What can you learn and apply to your MSP marketing strategy?
If you want to grow, you need to understand where your new business is coming from. It seems obvious but so many Managed Service Providers miss this element when crafting an MSP marketing plan.
Take a look into your CRM and analyze where your new clients are coming from. Did a particular marketing effort, say Google AdWords for example, produce more results than other channels? Perhaps email marketing drove higher conversion rates.
Pinpoint those things that worked well and plan to do more of them in the upcoming year.
While it is important to look at successes, it’s also meaningful to look at failures. We can learn so much from our mistakes. Perhaps an outsourced effort filed to produce the results you were hoping for. Or, maybe a new software you started using fell flat.
Your job is to look at each failure as an opportunity for future success. Eliminate the things that aren’t working and direct more focus on the things that are producing more revenue.
What are your highest-value activities?
This one is going to require some work. You are going to need to assign real dollar values to each one of your activities. By dollar values, I’m referring to revenue generation. What are the actions helping your company produce the most income? Realistically, only about 20% of your activities are high-value revenue generating. The rest could easily be outsourced or dropped altogether.
For your MSP marketing strategy, plan on focusing more and more attention on your high-value activities for the next 12 months.
Measure and monitor results
As you grow, it will become more important than ever to have a solid set of measurements for where your company experiences growth. This is as broad as “how much revenue did a particular activity generate” and as detailed as what was my conversion rate for emails to warm leads.
There are myriad toolsets you can use to measure your IT services marketing strategy effectiveness. For me, Google Universal Analytics is my go-to for measurement. You can use the Google Tag Manager to create sophisticated and useful events and triggers.
Starting is the critical first step. Discipline yourself to engage your team when creating this strategy. Empower your team to contribute ideas and work towards incorporating the best ideas into your MSP marketing strategy and plan for the next 12 months.
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