Is your MSP capitalizing on the various opportunities present in the MSP market? High-growth MSPs apparently share similar characteristics that differentiate them from their lower growth peers. But what secrets do these MSPs know that no one else seems to know? And what unique advantages do they have over their peers?
The Kaseya 2019 MSP Benchmark Survey Report analyzed a few factors that may have helped drive revenue for high- growth MSPs. Let’s take a look at these factors and the opportunities they provide:
1. Leveraging Cohesive MSP Applications
Applications such as remote monitoring and management (RMM), professional services automation (PSA), and IT documentation are absolutely necessary for any MSP operation. However, most MSPs fail to understand the importance of integrating these applications within their framework. 80 percent of high-growth MSPs consider integration between core MSP applications to be important and 92 percent of these high-growth MSPs believe this integration can help them drive better bottom-line profits.
Cohesive RMM, PSA and IT documentation tools enable seamless workflows that allow MSPs to get their work done efficiently. They help reduce the time taken to resolve service tickets, providing prompt IT information, and ultimately ensuring customers are kept happy.
2. Adequately Communicating Their Value to Clients
All MSPs provide very similar services to their clients. However what sets the high-growth MSPs apart is the exceptional customer experience they provide, with quick and flexible service delivery.
More than two-thirds of high-growth MSPs prefer to grow organically through new service offerings. Gauge your customer needs and propose value-added services that will benefit them. And most importantly, deliver them on time.
Recognize opportunities in customer needs:
- Does their security look weak? Offer security services.
- Do they require email security and protection? Provide data backup and recovery services.
- Are your customers undergoing digital transformation? Support cloud adoption.
3. Scaling Business With Automation
More than a third of high-growth MSPs have fewer than 10 employees. While this may seem like a hindrance to MSPs looking to scale up, high-growth MSPs leverage automation to standardize and refine their processes and optimize their operational performance.
To deliver new services to the market quickly, you require clear and repeatable processes, reduced operational inefficiencies and lower delivery costs, all of which automation can help with.
Most MSPs are small-sized and struggle with capacity constraints which limits their chances of becoming profitable quickly. For MSPs to grow their business and their revenue, they need to devise a clear strategy that distinguishes them from their competitors and ensure that it is followed meticulously.
In short, MSPs should aim to retain their customers by identifying and satisfying their requirements on a consistent basis.
If you are looking to grow your MSP, learn all about the dos and don’ts in this infographic “8 Things Affecting Your MSP Growth.“