MSPs struggle with the same issues as other businesses today, including a continually growing talent shortage, rising prices, and attempting to build and execute growth plans amid economic uncertainty. There are no easy answers to any of those challenges. However, there is one activity that companies can double down on right now to overcome some of their largest pain points – expanding their recurring revenue streams.
While sales growth may not solve every problem, when an MSP’s income and cash flow are rising at a healthy clip, its leadership team can access more resources to weather the storms and fund essential parts of its business plans (including expansion). Generating greater Monthly Recurring Revenue (MRR) streams with existing clients gives them that flexibility. Boosting cash flow should be the focus of every IT business and by leveraging “trusted partner” relationships to construct mutually beneficial deals, they can create many “win-win” opportunities. Successful MSPs continually seek out those “low-hanging fruit” upsell options with organizations already in their collective IT ecosystem.
Providers also need to expand their clientele. With the average customer attrition rate of 10-25%, organizations continually work to replace potential income losses while adding net new business. MSPs need a long prospect list and a strong sales funnel to ensure those objectives are attainable.
Growing revenue in both areas is essential. That two-tiered approach typically includes coordination between sales and account management teams to ensure each group understands and fulfills their respective responsibilities. Synchronization is essential for keeping income flowing from new and established clients. MSPs should be continually looking for new ways to boost those results, and UCaaS is one of the best options for making that happen.
Now is the Time for Creativity
MSPs understand the value of technology. Connecting features and benefits with the specific pain points of decision-makers helps close more sales. The approaches often vary, and in many cases, sales teams mix up the playbook when speaking to different leaders and influencers in the same company.
The lesson is to use whatever works best for the situation. MSPs can further differentiate their pitches and discussions with specific applications, and UCaaS gives providers a number of options, including:
1The Vertical Approach
Use cases are an optimal connector for sales teams. Showing specific examples of how technologies like UCaaS work in the real world allows prospective decision-makers to visualize those solutions in their operations. A common best practice with vertical market tactics is to create specific playbooks for each use case, practical guides that walk team members through the various steps of the sales process. Practice makes perfect and dialing in the conversations with specific use cases for UCaaS and other solutions allows MSPs to close more deals. Leveraging peer recommendations and introductions helps solidify those opportunities.
Sales and marketing enablement tools offer solid ROIs, as do customer services applications. Providing businesses with solutions that can quickly and positively impact income can have a comparable effect on MSPs’ bottom lines. UCaaS and CRM platforms are the perfect examples, empowering communications between sales teams and prospects and helping companies close larger deals faster. IT services firms that can connect specific technologies with desired outcomes (like increasing revenue) will be more successful at growing their own sales.
Businesses want to share information quickly and securely today. MSPs are experts in that area, designing, implementing and supporting a variety of communications-related systems to empower their clients. They can optimize phone, chat, text, email, and video solutions and connect complementary technologies like Customer Resource Management platforms. Performing communications assessments allows MSPs to identify strengths and gaps in their clients’ environments and recommend enhancement options.
Workplace environments are a ripe topic for MSP’s sales teams. The best way to connect with decision-makers is by giving them solutions that address current pain points, and UCaaS fills that role quite admirably. How could providers go wrong delivering the most flexible communication platform to companies with remote workers? ConnectMeVoice by Cloudli empowers partners with a variety of sales and marketing resources to ensure clients and prospects get that message.
5The Expense Reduction Plan
Now is the perfect time to pitch not just cost-effective, but cost-saving solutions to clients and prospects. How much money could a company save with a new UCaaS implementation? Starting with an assessment of the organization’s current communications environment – including office and mobile phones, video meeting solutions and other office applications – MSPs can calculate an effective savings (and sales) pitch. UCaaS provides a variety of ways for businesses to trim expenses while providing incremental new revenue streams for IT services firms.
A “Pitchable” Platform
Value drives sales success. With the shift to remote work, the rise of digital solutions, and ongoing labor shortages, MSPs can tailor their messages in many different ways to sell UCaaS to their clients.
These platforms not only provide flexibility for businesses and end-users but for the IT services firms that support those constituencies. That makes UCaaS easier to sell and deliver. ConnectMeVoice by Cloudli empowers MSPs with an extremely “pitchable” best-in-class solution that makes sense for virtually every organization. Whether big or small, specialized or general, any sales prospect will benefit from these cost-effective communications platforms.
Ready to maximize your sales opportunities with UCaaS? Contact ConnectMeVoice by Cloudli to learn how.