Maximizing Lead Conversions For Your MSP Business
Your MSP business needs to get a great number of leads to solidify sustainable growth. But once you’ve got the leads, what do you do? And how do you ensure those leads are the right kind of leads? Following are several considerable suggestions:
• Collect info from the right potential clients
• Follow up appropriately
• Track follow-ups
Collect Info From The Right Potential Clients
Your MSP business has to acquire numerous leads for success, but following up on the wrong leads can definitely hurt your business. Time is money, and if you’re wasting time on a potential client that isn’t really a potential client, then you’re losing your money. What you want to do is pre-qualify leads. What this involves is setting up a litany of requirements that a given lead must possess in order to be followed up. You may look at things like budget, technology saturation, and authority.
If you get the information of a receptionist for a larger organization, they’re not likely to have the decision-making capability necessary to close with you on some form of IT. But if you get the information of a CTO, you’re more likely to make the sale. However, if there’s little or no tech with a given company, then even if you close with a client, the effort involved in that close will likely cost more than the benefit which results. Finally, if there’s no budget, you’re not going to make a sale, so ensure the client you’re courting can afford you.
Follow Up Appropriately
Once you’ve identified which clients are worth following up, now it’s time to contact them. You shouldn’t contact them once or twice, but at least five times– or up to eight, depending on which source you feel is most applicable.
Contacting a potential client five times at the right intervals is likely to yield success statistically. You’ll want to keep numbers on your contacts to see which sort are the most successful. Too many contacts can irritate your target market and depress your outreach team. Keeping close numbers is very important here. Statistics can reveal trends that otherwise would not be possible to see.
If you’re not tracking follow-ups, again, you risk demoralizing your staff and annoying potential clients or existing ones if you’re trying to upsell them. It’s best to have a digital system in place– a database of sorts. Even with thousands of clients, this won’t take up a great deal of space– several terabytes if you’ve got pictures as well as video data in conjunction with leads. By many accounts, such detailed information would actually be overkill. Design appropriately.
With such a database, before any call is made, the lead profile should be updated. After each call, the profile should be additionally updated, and if you’re really sophisticated about it, you’ll have these profiles on rotation so that outbound salespeople can more efficiently cycle through them.
Now there are always statistically outlying points of data that will result. Sometimes a potential lead is going to buy the first time you call. Sometimes they won’t buy until the eighth or ninth time. That is because your salespeople couldn’t get the right individual on the phone. The best way to maximize your outbound contact in this regard is to have a system in place which designates what happened during each contact. Additionally, each contact needs to be defined directly, which means if a salesperson calls a potential lead and they don’t pick up, that’s not a contact, that’s an attempted contact. Have such categories in your database.
Maximizing Outbound Marketing
When your MSP business strategically acquires leads, follows up with them appropriately, and is careful to track follow-ups, there is an increased likelihood of success in outbound marketing. Anything worth doing is worth doing well. If you just fly by “the seat of your pants”, as the old expression goes, you’re not going to see the same success as an approach informed by vetted strategy. So look at your numbers, design a method of recording contacts, and follow up appropriately as you go about seeking conversions and upselling existing clients.