Small and large businesses need a Managed Service Provider (MSP) to bring the technical guidance and help that they don’t have onsite. An MSP must keep its own knowledge up to date to help clients with the latest threat detection, cybersecurity, infrastructure configurations, and network management. Every MSP must adapt to changes in the cybersecurity landscape, emerging technologies, and the trends in cloud computing. Here are a few ways MSPs can grow their business to stay competitive in 2023.
Automate Repeatable Tasks
Anything that can be automated should be scripted. You might need some manual testing, and writing the script takes time, but the return on your investment will be far more than the cost to set up automation. You first must define specific tasks that can be automated and map out how they should be scripted. Many infrastructure deployments can be automated, especially equipment in the cloud.
As an example, suppose that developers need staging environments in the cloud for the latest application. An MSP can run a script to deploy a staging environment on demand, and the script will deploy hardware, configure the environment, and add any cybersecurity monitoring systems. The process could take several minutes when done manually, but it takes a few seconds with an efficient script.
Track Statistics and Key Performance Indicators
An MSP should always work to improve its processes. The only way to improve is to track statistics such as how long it takes to respond to client issues, the percentage of service level agreements missed, the amount of time it takes to process a ticket, and satisfaction surveys from customers. Watching key performance indicators and benchmarking them against competitors can motivate you to improve processes.
Managing service level agreements are one of the most difficult yet important measures in MSPs offer to their customers. SLAs determine the speed at which you promise customers response and resolution If you consistently miss them, you lose customers. Tracking SLA performance is one main performance indicator that should always be tracked and procedures modified to improve numbers.
Excel At a Specific Niche
Some MSPs focus on cybersecurity while others focus on infrastructure management. It’s important to be the best at a specific niche so that you can stay competitive. Whether the business is small or large, a business wants to be reassured that the most important part of its productivity environment is in the hands of someone who will keep it running at especially during peak business hours. Staying on top of a specific field will keep an MSP highly competitive and attract customers.
Good cybersecurity services are still a necessity for many businesses, and some MSPs offer basic mitigation and detection operations. An MSP can excel beyond its competitors by offering next-level protection that no other MSP can offer. The competitive nature of “niching down” seems like you’d eliminate many opportunities, but instead, it gives MSPs a space where they can be the best in a specific niche. Generalist MSPs are also necessary, but any business that needs a specific skillset will look for an MSP that can offer advanced services within a niche.
Stay Up to Date on Customer Concerns and Business Trends
MSPs must be able to empathize with customer concerns and the latest trends in their business. Along with “niching down,” an MSP can grow and stay competitive by continually researching its target industry. Finding a niche also involves targeting a specific business industry. With an industry focus, the MSP can then learn the language, understand common business concerns, and research trends in the target industry technology. Most businesses must adapt as technology changes, so an MSP focusing on a particular industry can speak the business language and help them understand what must be done to keep their infrastructure secure and optimized.
As an example, the finance industry is a constant target for cybersecurity threats and data breaches. A good MSP can focus on cybersecurity for financial institutions. The MSP would then need to understand common financial concerns, threats targeting financial institutions, and compliance regulatory standards overseeing the financial industry. The more you speak the language of your customers, the better they can relate to you and your services. It also helps retain customers as they adapt to technology changes.
Lay Out a Marketing Plan and Growth Map
Good networking and search engine optimization will help with marketing, but the MSP space is extremely competitive. To stay competitive, an MSP must market their services using various strategies. Email marketing, networking, speaking engagements, and attending conferences are just a few ways to get your name in front of potential customers. Word-of-mouth is always one of the best ways to obtain customers, but MSPs should stay active with their marketing strategies.
A growth map provides goals and lays out ways to get to a specific monetary target. Larger MSPs sometimes use mergers and acquisitions to obtain their goals, but smaller MSPs must lay out a business plan to grow their skills, assets, offerings, and products. A plan also considers current and potential new customers so that the MSP can target specific industries and mold their services to support these businesses.
Invest in the Right Tools
Behind every great MSP is a set of tools optimized to support their customers. MSPs need the right tools to optimize their services and make sure that they have everything a customer needs to support their own business. Whether you target cybersecurity as a service or general network environment support, you need the tools to back up services and keep you compliant with your SLA promises.
Most MSPs must support email services, whether it’s to manage user accounts or keep email secure. TitanHQ has a number of email services to stop phishing, archive important messages for compliance reasons, encrypt email messages, and stop spam from reaching the inbox of users.
The TitanHQ cybersecurity platform delivers a layered security solution to MSPs to prevent user vulnerability. MSPs that supports email services for their customers can improve their business, help protect customers from phishing and ransomware, and reduce costs from stopping spam.
Talk to our Team today
