Everything is not everybody’s cup of tea!
And more than any industry which exists in the world, this statement suits best for the MSPs. A managed services provider is great at taking care of the network and hardware related issues for organizations, but are they equipped when it comes to generating recurring revenue?
Probably the answer is NO.
Marketing, gathering insights, maintaining relationships is a tough task to handle by the MSPs. And even though we come up with techniques and tactics to ace marketing efforts, somewhere the MSPs are lost.
In this blog, we intend to help you explore one of the easiest options which are readily available in front of you, always, that is referrals from your existing customers, suppliers, or partners.
Simple. Word of mouth!
Perhaps, this is just an oversimplification but the IT industry is known to run with word of mouth advertising the most. And you definitely know the reason behind this!
And referrals, on the other hand, is inexpensive compared to the other marketing techniques. And it increases the trustworthiness of your brand, too.
For example, you plan on giving a $5 gift card for each of your referrals to a maximum of 10. So, technically you invest only $50. Let’s consider that at least one of them is a fully qualified lead, so what’s your revenue?
As per Collabrance, the percentage of closing a deal with referrals for MSPs is,
If you are paranoid about the expenses, then just begin with a small budget campaign. Test it and then move forward. Otherwise, if you wish to start a full-fledged referral engine that continuously provides you referrals, then go for a program.
Here are a few ideas which we would suggest you with,
Once you are out there on the front, treat every referral and your existing customer important. Because the new client has already overcome the barrier of trust and is almost your loyal customer. Treat them with respect and give them your best service so that they can help you increase your client base and revenue.
Any form of marketing might seem to be troublesome for an MSP. And considering the tough situations that you deal with, it’s quite understandable. But growing your client base is much more important. If your conversion rates are not good, sustenance would be a problem. As we understand marketing hardcore is time-consuming, try generating referrals so that the process is mostly performed by your loyal customers. You just need to use word of mouth to leverage your stance in the industry.