By now, you’re wrapping up another year of selling. So, how did you do? Be honest with yourself.
Did you generate new monthly recurring revenue (MRR) at the right price every month? Did you hit your quarterly sales goals? Did you diversify your customer base? How does your sales pipeline look for 2023?
Now, even if you surpassed your expectations for this year, there’s always room for improvement. Before heading into 2023, take this month to review how you can amp up your sales efforts.
To help, here are six sales blog posts you may have missed in 2022.
One of our mottos in TruPeer is “no goose eggs.” We use the term “goose egg” to refer to a company that goes an entire quarter without adding new monthly recurring revenue sales. In other words, no new customers at the right price. There is no reason for any MSP that works with TruMethods to ever have a goose egg.
Our target markets have improved in every way. The sweet spots for the number of users in our target customers are rising. (Even our seat prices are increasing!). More targets willing to pay more for our services is an excellent market to be in — but how do we capitalize on this?
Putting all your eggs in one basket is never a good strategy. It’s always best to diversify most aspects of your business, especially your customer base. Most of us have been there before. We score a big customer and tout it as a big win, which is a significant milestone for your business. Landing a whale can completely change your business, although not always for the better.
Most MSPs struggle with sales, specifically the ability to add new monthly recurring revenue at the right price. The root cause of MSP sales struggles is a weak go-to-market strategy. Our business model is, as you know, very forgiving. It forgives many sins because we sell recurring revenue, and the average lifetime value of our customers is high. However, as our industry matures, your go-to-market motion must also mature.
MSPs are making cybersecurity sales harder than it needs to be. In fact, I hesitate to use the word “sales” because that is the center of the problem – customers feel like you’re trying to sell to them. You shouldn’t be selling customer security enhancements or projects. Instead, you should be taking your customers and prospects on their security journey. You need to develop a repeatable way of explaining the risks and opportunities that your customers will face.
Marketing is still one of the top challenges managed services providers (MSPs) face today. When you’re a one-person shop, marketing sometimes falls by the wayside since there are typically urgent matters to tackle. However, if you don’t have a presence in your community, someone eventually will.