Make this the summer of strategic reviews

Make this the summer of strategic reviews

Paul Green Uncategorized

I've written before about doing regular strategic reviews with your existing clients, and using a profit matrix to track what services you could and should be selling them.

The reason these are so important is because of the only 3 ways you can grow your MSP:

  1. Get more new clients
  2. Get your clients to buy from you more often
  3. Get your clients to spend more every time they buy

Lots of the MSPs I'm speaking to right now are totally focused on number one.

And to be fair, quite right too. The Great Big Client Grab is coming. This is where unhappy clients who have already decided to leave their incumbent MSP, will actually take action on it.

It's happening a bit now. Gut feel it's going to speed up in the autumn, when a small number of MSPs will use really clever marketing to march in and steal other MSP's unhappy clients.

However... you mustn't be so focused on acquiring new clients, that you forget a faster and greater source of additional net profit within the business: Your existing clients.

Yes, it's August. Traditionally a rubbish month to sell stuff. Offices are kind of being used again, but sometimes not. And we're in a weird kind of post-lockdown, but kind of not situation.

But you shouldn't let that stop you from doing some serious strategic reviews with your clients between now and the start of September.

In fact, you should be approaching them asking for a meeting to discuss their 3-1-3

What's that? It's simple... what are they planning to do in:

  • The next 3 months
  • The next 1 year
  • The next 3 years

That covers off the short, medium and long-term plans that they're pulling together right now.

Because is there's one common denominator amongst most end clients right now... it's that they're planning change and acting on it.

Some businesses can't see a future past the end of schemes supporting payroll. And that's very sad. As business owners we can all feel that pain deep inside.

But there are going to be many more businesses that can see a future. Albeit a very different one. Many of those will make and act on investment and infrastructure decisions in the autumn.

This is wonderful for MSPs!

The message of making sure anyone can work on any device, anywhere is finally getting through.

By doing a strategic review with them this summer, you will:

  1. Be more likely to spot your unhappy clients, while you still have some time left to do something about it
  2. Demonstrate you're serious about your status as a partner not just a supplier
  3. Pick up some project work... and I bet some Monthly Recurring Revenue (MRR), from some of the clients

They get the change they really want, to protect their business and allow them to thrive in the uncertain 18 months ahead.

You generate some work and valuable MRR.

Everybody wins 😃

The only thing you need to decide is what format your strategic reviews should take. You can't take them to lunch, which is a real pity as that works so well (I know you can eat in restaurants right now, but I think taking all your clients out to lunch in a 6 week period isn't in the spirit of what we all need to do to help right now).

But if you can still physically meet them, then please do. If it can be done in a safe way of course. Perhaps that's at their office; not the ideal environment. But meeting face to face is better for strategic reviews than a Zoom.

If it has to be a Zoom, then so be it. You can still achieve the 3 aims over a Zoom call, so long as both parties are concentrating.

Come on then... pick up the phone... call your clients... get booking your reviews...

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