MSP Mindshare: Why should MSPs think about productization?

In today’s “Netflix” world, we have all become accustomed to paying a subscription for access on-demand to a specific set of services and no longer is that unique to our lives outside of business. It is high time that MSPs attached a product label to IT.

We’re all lazy today, right?

As a modern society, we have proved Charles Darwin right: we can and are continually evolving. That evolution has shifted slightly though, we’re not growing extra fingers on our hands… but we are very swiftly adopting new ways of accessing what we need, more quickly, and with less effort.

Since the explosion in the use of search engines, we have all become far too accustomed to instant access to information, establishing pretty credible answers to our burning questions within a matter of seconds.

The very same approach is now hard-wired into us all when seeking out a new product or service within a commercial environment, as much as it is at home. 
 

Procurement today is different

Discovering choice, vetting supplier credibility, and most important of all, identifying price and establishing value is now entirely done online.

As a buyer, I expect to very quickly identify a supplier’s understanding of my needs, and then establish my own opinion of value by comparing price with benefits & features. If I am unable to identify any of these components within a matter of moments, then I’m gone – totally lost to the next website waiting in line in my Google search.

This is why it is absolutely fundamental for MSPs to not only have a strong web presence that answers the pillars a prospective customer is unknowingly looking for…

1. Relevance? Does this supplier serve my location or industry, size, and type of business?
2. Empathy? Does this supplier understand my needs and challenges?
3. Authority? Does this supplier carry the experience and credibility to solve my challenges?
4. Engagement? Does this supplier demonstrate that they want my business and draw me in for a soft low commitment call to action to learn more?

 …but further to this, are you showcasing choice - specific productized offerings with price points? 

What about my competition?

The first response I hear from you cautiously is, “what about my competition discovering my price point?”. To which I answer, “so what!!”.

If you are confident of your proposition and can present your prospective audience with choice that clearly defines value in overcoming their needs and challenges – then why does it matter if your competition sees your pricing?

They may well try and compete and undercut your pricing, but tough, that’s business. It’s probably happening unknowingly when prospects reach out to various MSPs for new services anyway - there’ll always be a competitor who’s willing to pull their pants down over pricing for the sake of winning business, but you aren’t in that game, are you?

You may get a prospect that shrieks at the price point – but wouldn’t they do that anyway once you’ve wasted hours in talking to them and preparing a proposal? If a prospect is nothing more than a tire kicker, looking to beat suppliers down on price, they’d still negotiate between their suppliers of choice regardless of the listed price.

If you provide them with a clear offering that you know with confidence is aligning value in overcoming their challenges, you’ll attract the right prospects.

How to share a product and not "stack"

The MSP world loves a good “stack” – your proud list of products and services you bundle together as a part of your complete customer offer. The problem with this stack though? It means absolutely nothing to your prospects.

They need to resonate with a product showcase that answers some pretty basic questions –

1. Who is it aimed for? [size/type/maturity of business]
2. What value does it provide?
3. By solving which problems?
4. What [in the most succinct summary] does it do?
5. How much does it cost?
6. What/where is my ROI?

Do your homework on your stack and surmise who it is really designed for. Guess what? Your competition won’t have done this, and their stack won’t mean anything to anyone – putting your end user-focused offering front & center of the list of suppliers that resonate with what they’re actually looking for.

I’m left wondering, will evolving to grow that extra finger make searching online even faster?

About the author

This article was prepared by Dave Sutton of Wingman MSP Marketing – an agency dedicated to creating more conversations with prospective customers for MSPs by delivering brand, digital, and lead generation campaigns.

Following a decade-long career within the MSP space as a Sales & Marketing leader, Dave established Wingman as the premier partner for those Managed Service Providers that seek to evolve their brand, refine their proposition, and get acquiring more customers.

To help MSPs identify their gaps and figure out where to get started, Wingman are offering a free website review as the starting point to a successful marketing journey.

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About MSP Mindshare

The MSP Mindshare series invites MSP experts to share their perspectives, wisdom, and insight into the burning issues that impact the IT Channel.