Now that you’re a managed service provider (MSP), you’re probably wondering how to stay in business. Even after you’ve created a great system, acquired good clients, and built a solid reputation for customer service, you still have to increase your company’s value in the market for longevity.
To be successful in the managed services market, you need to increase your company’s value. This article focuses on six tips that are implementable regardless of the services you provide.
1. Invest in modern technology
If you’re providing information technology (IT) services, you should be equipped with modern technologies to stand out from the competition. Doing so enables you to troubleshoot software and hardware maintenance issues or maintain network infrastructure for small and large businesses alike.
When investing in modern technology, consider financing options. Financial institutions can offer various financing solutions to help you pay for your new equipment. They can also help in maintaining healthy cash flow, ensuring you won’t run out of funds for your MSP company.
2. Establish relationships with clients
If you provide software maintenance services and you want your company to stand out, then go out of your way to establish relationships with clients. You can do this by offering services that cater to their specific needs and providing value-added ones they will appreciate.
You can also grow your managed IT clients by attending industry events to meet potential clients, answer their questions, and build rapport with them. These events may take a lot of planning and come with a hefty cost, but they are good investments because they help you get more referrals from the existing client base.
3. Produce authoritative blogs
An excellent way to boost the value of your MSP company is to write authoritative blogs and publish them on your website. The goal here is to build your online presence, generate more leads, and educate your audience about what you offer.
You can do so by offering tips and tricks on using your service effectively or by providing valuable information about your company’s general work. This helps you boost your clients’ perception of your business.
For example, suppose you’re offering IT support services. In that case, you should explain how you’ve managed to provide similar services at a lower cost than your competitors whilst providing better customer service.
4. Focus on providing reliable services
In general, managed service providers are responsible for managing other companies’ IT needs. By providing them with reliable services, they can save money and time while improving their customer satisfaction levels. This will further boost their revenue and increase their profit margins.
You can increase the reliability of your IT services by focusing more on providing reliable services and less on marketing. One way to do this is by developing a solid brand image that your clients can trust and relate to.
You can offer 24/7 customer support via phone, email, chat, or even live chat software. If there’s ever an issue with your customers’ systems, you can always help them in real time.
5. Be aware of industry trends
One of the most important things you can do to boost the value of your MSP business is to be aware of industry trends. Changing regulations, customer demands, and technological advances are all examples of industry trends that can impact MSPs.
By keeping up with these trends, you’ll be able to provide your clients with more value and better services. It’s also essential to understand how these changes will affect your current and future clients to remain competitive in today’s marketplace.
You can find out about these trends by following industry leaders on social media or by subscribing to their email newsletters. Being aware of the trends enables you to stay ahead of the competition and ensures your business grows into a profitable business venture.
6. Use data-driven marketing tactics
Another way to add value to business is to use data-driven marketing tactics. This will ensure that you can reach out to customers in a more efficient manner. It will also help you keep track of your performance.
You can gather data through client surveys, but if you don’t have enough time to collect these, you can use your customer relationship management system. This will allow you to collect data from all your clients and then analyse them with other factors, such as their location and industry. These insights will let you see which IT products and services are most popular with potential customers and create targeted campaigns accordingly.
The more customers see value in what you’re offering, the more they’ll be willing to pay. The hard part is convincing them that what you offer is worth it.
Therefore, you have to boost the value of your MSP business to enhance your client’s perception. Focus on what you can do for customers that’ll allow you to charge more for your services. Most importantly, don’t forget about providing excellent customer service to sustain a positive brand image among your existing customers.