Your MSP business can be competitive in a number of ways. Your MSP can provide the best products, services, customer experience, or incentives. There are likely other things you can do to initiate competitiveness as well. Whatever the case, you’re going to have to make an investigation to determine the best tactics.
Competitive Strategy Points
There are some generalized tips which can help you reach your profitable apex. Consider these five steps:
- Set realistic goals
- Determine relevant competition
- Put on a veneer outshining competitors
- Design a unique and competitive value proposition
- Conduct interviews of Clients using competitor services
Expanding the Steps
Your MSP business needs to set realistic goals. In order to set realistic goals pertaining to client conversion and competitive market share, you need to know who you’re competing against. Big-ticket international conglomerates are likely without your reach, but other local MSPs are competing for the clients you are.
Next, ensure online presence, advertisement, and marketing in some way outshines competitors. Think of it like a first impression during a social meeting and make yours better than the “fellows” whose clients you’re trying to convert.
When you collect data on the market and your competitors, you’ll know what you do better than they do. And from there, you can draft a unique, competitive value proposition that offers something other MSPs don’t.
Lastly, interview the clients of competitors in whatever professional way you can to determine their experience, what drives them to competitors, and what “nicks” may be in the armor of your competition which you can exploit to siphon away their clients.
Your MSP business is well-advised to interview competitor clients, design a unique value proposition, outshine the competition in terms of presentation, know against whom it is competing, and set realistic goals from this data. Such an approach will enable your MSP against fierce competitors.