If your monthly recurring revenue (MRR) is down, it might be time to re-evaluate your sales process. In fact, even if your MSP’s MRR is increasing every month, you should still gauge your progress in the sales process on an ongoing basis. Then, every couple of months, re-evaluate your sales process to determine where you and your sales team can improve. If you’re unsure of where to begin, look closely at where you are as a salesperson and an individual before reviewing your sales process.
Your attitude, belief and personality drive results
Success ultimately begins with you. You’re going to have a tough time selling your managed services to prospects if you don’t believe in yourself or the services you’re presenting. Overcoming self-doubt is one of the first steps to improving your overall sales performance as an MSP salesperson. By succumbing to your fear of failure, you sell yourself and your business short — so what’s one of the keys to making more sales? Begin building your confidence in sales by controlling what you as an MSP salesperson can control. Simply know this: Your attitude, belief and personality drives results.
Trust the process — but don’t forget this
Even though we at TruMethods have a sales process for our members to utilize when they’re selling to customers, it’s important for you to keep this in mind: Our sales process provides guidelines to achieve success. Not every sales situation is going to be the same. Unfortunately, things are going to come up, and you’re just going to have to adapt to them. Your goal is to control the sales process.
Gauging your progress with the sales process: What you should know
Not sure how to gauge your sales progress? Well, first, look at your MRR. If you’re not selling MRR, there could be a bunch of things going on, but one of your reasons could be sales process. The same could be said about your closing ratio. Yes, other things could be impacting it, too, but your sales process could be one of the reasons why you’re not closing as many sales as you’d like each month.
You can also gauge your MSP sales process by determining whether you can control it and evaluating your ability to forecast sales — both of which — unlike MRR and your closing ratio — are linked directly to the sales process. How often are you able to stay in control the process of the sale? If you or your salespeople are having issues with managing the sales process, take the time to review our content on the three phases to mastering the sales process: the basics, command and mastery.
Now, regardless of how much you sell, you should be able to get an accurate forecast on what’s going to close this month and the next month. If you’re oftentimes wrong, there’s a sales process issue within your MSP, and it should be rectified immediately. Don’t let this continue to impact MRR.
Additionally, when re-evaluating your sales process, consider the following:
- Is price an issue?
- Do you create clear separation?
- Can you qualify prospects quickly?
- Do you give up sales assets too easily?
- Do you lose control late in the process?
- Do you present too early?
- Are you working hard in the process?
- Does it feel like selling?
- Are you hoping and waiting?
Remember: Failure is not an option, so when you’re identifying problems in your sales process, start with you. Do you have the right attitude to the drive results you want? If so, use the TruMethods sales process as a guide to generate additional MRR for your MSP. Always gauge your progress in the sales process to determine how you and your salespeople can master the sales process.