Every MSP business wants to excel and be a number one choice for clients. The dream would be to be well organized, a ship running around the clock with no hick-ups. I’m talking about having your customers configured perfectly, your team working efficiently and productively, and all of your management solutions operating seamlessly. This is the ideal situation and maybe you’re already set up this way. This might be you already or you might be needing improvement to get things in the right direction.
Whether you’re a seasoned vet or new to the business improvements can always be made. You may have one or two issues here and there or you may need to completely overhaul your operation.
6 Effective Tips to Improve Your MSP Business
There are a number of methods you can use to help with your MSP business. We’ve put together a list of 6 effective tips to help you improve your MSP business.
1. Schedule Routine Customer Meetings
It’s important to keep your customers up-to-date on the services you’re providing. This isn’t to bombard them with the technical issues you fixed or things of that nature. This is to make sure that the service you’re providing stays in line with what their business needs and the goals they’re trying to accomplish. These are meetings where you’ll take the time to make adjustments to things in your service that aren’t exactly right for them.
Whether it’s just the software or adjusting the integration of different software. All of these things are important to their daily operations and ultimately should be important to you. You also should maintain routine meetings to build a better relationship and rapport with your clients.
2. Track Your Revenue
You cannot tell if your business is profitable if you are tracking your revenue. You need to be able to see if what you’re bringing in from your clients versus the cost of operation balances out. Tracking your revenue also lets you see where you can make improvements to the services you offer and how they are offered. All things that can help you have a high customer retention rate. It’s also important to see whether or not your current operational process is profitable to you. If it isn’t you may have to make adjustments before it gets to where you cannot fix it.
3. Invest In Marketing Services
You may think that your product can just sell itself. I’m here to tell you that unfortunately isn’t the case. There are hundreds upon hundreds of MSP businesses out there that you have to compete with. You can’ do that if you aren’t able to get your business in front of the right people. In other words, “you need marketing services”, there is simply no way around it. Even if you go around telling people via word of mouth that is still a form of marketing. It is better to do it right. Look into companies that work specifically with MSP business to develop a marketing strategy that is perfect for your business.
4. Focus on Customer Satisfaction
Customer satisfaction is one of the key components to building a larger customer base. You want to make sure that your customers are happy and their needs are being met. Develop a customer care chart for each client. Map out the IT, software, and other services they need. Figure out how you’re going to implement them, and how you are going to maintain them. Also, have a clear way to handle any issues that may arise. These are things that can guarantee you customer satisfaction and in the long term guarantees the success of your business.
5. Streamline Your Processes
Have a clear-cut way that you implement your services, a framework that you can use for each and every client that gives you the best results every time. Doing this can ensure that you’re also providing the best service possible but also gives you a way to track what has and hasn’t been done. This will keep you and your team on top of things.
6. Upgrade Your Technology
Always leave room for upgrades or changes in your MSP software and technology. It may seem fine in the being to use free software especially as free software is becoming more and more impressive and user friendly, however, there will be limitations that you simply don’t want your team or technicians to face. You especially don’t want your customers to find your software and application too cumbersome to use. Make sure everything is updated and you’re using this best version possible.
Running an MSP business isn’t easy. There are a lot of challenges that come along the way. You will have to deal with customer demands, changes in the market and technology, managing finances, and a host of other things. The biggest challenge of course is finding a way to make your business scalable and profitable. This is a hard balance to find. It’s not just about solving customer issues quickly. Your business plan and strategy have to be well thought out.
Following the tips on this list will help you to improve your business tremendously. Focusing on these various aspects and seeing where changes and improvements can be made may be the difference from being an okay MSP to a great MSP.