Five MSP Essentials for Building a Profitable Business

Most business owners want the support of the most skilled professionals to help them build, manage, and grow their operations. Organizational leaders need the help of skilled professionals in many areas to succeed and will listen to those with solutions that allow them to accomplish critical, if not business-essential, goals. 

Managed Service Providers (MSPs) that can pitch those “big ideas,” as well as provide more cost-effective systems, typically beat out competitors with lesser but cheaper offerings.

Business communications is a perfect example. Most business owners look to outside consultants and technologists to help improve the flow and success of customer conversations. Could their IT investments provide access to the latest account information and speed call times to generate more sales, improve customer satisfaction, and resolve issues faster?

MSPs can provide businesses with those capabilities today. Using the latest technologies, IT services firms can optimize communications to save clients time, money and aggravation over more traditional systems. Leveraging Unified Communications as a Service (UCaaS), Customer Resource Management (CRM) systems and collaboration tools like Microsoft Teams help MSPs gain clients, boost monthly recurring revenue, and increase customer retention.

Building a formidable communications practice to accomplish those goals is easier than ever. Thanks to cloud-based communications solutions, and the support of strong vendor and industry alliance partners, providers can construct these systems and develop a specialization in communications in no time. Here are five effective tips for making that happen:  

1. Start with a flexible UCaaS platform. Technology is at the heart of every business today, and MSPs are no exception. The key to success is building scalable processes and systems that allow providers to expand operations quickly and painlessly, without sacrificing support. Building off a powerful cloud-based UCaaS platform like  Cloudli's gives MSPs the ability to add lines and features as their clients’ needs change, and integrate a plethora of other systems that automate key communications processes and improve employee performance. A solid UCaaS foundation is the path forward to success.

2. Design scalable packages. What should an effective communications system include? As with other technologies, MSPs must constantly evaluate customer needs and aspirations before developing potential solutions. That process may involve creating “buckets” of requirements that apply to specific verticals or businesses with similar attributes. MSPs typically build their communications solutions off core systems (see #1) that can be easily adapted to each individual client’s use case.

3. Ramp up support options. Communications are a vital part of every business, from phone and video calls and emails to instant messages and texts. When any of those systems fail, MSPs will hear about it very quickly. Some providers build out remarkable support teams to address virtually any question or point of failure. Others partner with their suppliers and peers to fill in gaps or provide more cost-effective alternatives to hiring and training their own personnel. MSPs need to evaluate which options are best for their business models − and their clients. Strong delivery and support partners will help ensure the success of a new communications practice.

4. Create the “offering.” While designing communications packages involves the technical side of the project, MSPs also need to develop the solutions pitches for clients and prospects. How will your team not only land new customers with these offerings, but upgrade systems for businesses already under their management? Companies may not be asking for cloud-based options, but most are making (if not already made) digital transformations, so highlighting the benefits of UCaaS and related technologies on an MSP’s website, or in sales and marketing programs, can initiate new and productive conversations.

5. Leverage client success. An effective implementation is an MSP’s best resource for new sales. That statement is especially true with MSPs specializing in communications, as business owners must trust the companies that want to manage a key part of their operations, and often look to peers for recommendations. Testimonials and referral programs are great tools for promoting new or enhanced offerings. Their tales of success, with specific examples of how a new communications system helped their businesses, can help MSPs gain new leads and clients.

Build Your Value with Prospective Clients

Knowledge and expertise sells. Companies must continually innovate today to keep pace, so it’s more imperative than ever to partner with skilled IT solutions architects with more capable support teams. MSPs that automate and drive efficiency, increase sales and profits, and improve productivity command a premium over IT services shops that merely address the typical technical problems. Businesses expect and need more comprehensive expertise and support − and expanding budgets to pay for that help.

Many MSPs undersell the value of the services their teams deliver when they could be highlighting the benefits of many different deliverables. Others fail to keep pace with the market’s pricing and refrain from pitching offers at a revised price over the fear of losing clients and new accounts. Unfortunately, both of these strategies can impede the growth and perceived value of an IT services company and make it incredibly difficult for providers to gain back that lost revenue over the lifetime of the clients relationship.

A communications technology specialization can help MSPs overcome some of those pricing/value proposition challenges. Strong technology or vertical expertise allows providers to construct more viable and in-demand practices that attract more attention from businesses in need of those services. Looking for a proven UCaaS partner that understands what MSPs need to build a successful communications practice? Schedule a demo today.