By: GreatAmerica on September 5th, 2023
Rising Above the Rest: How MSPs Can Achieve Unrivaled Excellence in the Remainder of 2023
Managed Service Providers (MSPs) face a competitive landscape in 2023 that continues to evolve due to technological advancements and changing client needs. To stand out from the competition, MSPs need to adopt innovative strategies that focus on delivering exceptional value, building strong client relationships, and staying ahead of industry trends.
In this blog we will discuss several practices your MSP can implement in the remainder of 2023 to differentiate from the competition.
Distinguishing your MSP in an already saturated market
According to Datto, competition remains the top challenge for MSPs year- over- year with more than 25% of MSPs sharing that they struggle to stand out in this rapidly growing environment. The reasons why vary, but here are some areas that we believe MSPs can take advantage of to differentiate this year:
- Marketing priorities
- Strategic partnerships
- Innovative pricing and payment options
- Continuous learning and certification
Prioritizing MSP marketing efforts
We know you have heard it time and time again – you need to have a plan in place to keep up with marketing efforts. But how are you supposed to prioritize this with the growing to-do list you are already facing? Brand recognition is huge – especially in a saturated market.
Getting out in front of your audience by having an active social media presence, utilizing email campaigns, crafting educational and meaningful content, and a plethora of other efforts are important in the realm of MSP marketing. There is one thing in common with all of these – they take a lot of time.
Our recommendation is that you start small. If you can’t produce content yourself – start by reposting and sharing content that you find valuable. Set aside 30 minutes a week to keep up with industry trends and make note of content that you resonate with and share that to social media or in an email to your customers or prospects.
Furthermore, take advantage of your existing relationships– you may be able to utilize the sales and marketing teams of partners you work with who may offer white-labeled marketing materials. There may be materials ready out there for your MSP to customize and use that are right under your nose.
Working with great vendors is beneficial from more than just a sales and marketing perspective. These relationships are no longer just advantageous – but instead essential. When making decisions around who you should and should not decide to work with, there are a number of things to consider.
When deciding who to work with – dive into what their reputation is in the industry. What do their values look like, and do those values align with your MSPs values? Talk to peers to discover personal experiences.
2. Diversify your relationships
As the common saying goes – don’t put all of your eggs in one basket. Building a strong ecosystem of partners allows you to provide holistic solutions that meet a wider range of client needs.
3. Mutual benefits
When deciding on who to partner with, figure out whether they will go the extra mile for your MSP. Are they just looking to meet their goal, or do they genuinely care about seeing your business succeed?
Innovative pricing and payment options
Consider offering flexible pricing models and payment options that align with different client needs. For example, is your MSP offering a monthly payment option? Something as simple as providing technology financing options for your customer to buy can make all of the difference.
If you had to pay $360 for a 3-year subscription to Netflix you would likely think about it much longer and you are more likely to consider other streaming platforms. However, if it is presented as $10 a month it is much easier to digest. A healthy pricing model goes hand- in- hand with how your customers pay. Making sure that you offer several ways to pay will naturally protect your profit margins and shorten your sales cycle.
Continued learning and education
Stay up-to-date with the latest technologies and industry trends by encouraging your team to pursue relevant certifications and participate in ongoing training. This demonstrates your commitment to providing cutting-edge solutions and helps you stand out as a trusted advisor.
On the flip side of this, make sure to continuously educate your customers. Providing regular educational content like webinars, workshops, and guides help empower your customers to make informed technology decisions.
Learn more about making the most of 2023
If you are interested in learning more about how your MSP can make the most out of the rest of this year – and years to come – GreatAmerica Financial Services is hosting a three-part webinar series with Service Leadership, Inc®, where industry experts walk through the best areas of focus and industry trends.
Learn more about this webinar series and register below!
GreatAmerica is the largest independent, family-owned national commercial equipment finance company in the U.S. and is dedicated to helping manufacturers, vendors, and dealers be more successful and keep their customers for a lifetime. GreatAmerica was established in Cedar Rapids, Iowa in 1992 and now has offices in Iowa, Georgia, Minnesota, and Illinois. In addition to financing, GreatAmerica offers innovative non-financial services to help our customers grow.