Episode 237: MSPs: What it really means when a prospect says no

Episode 237 May 27, 2024 00:35:30
Episode 237: MSPs: What it really means when a prospect says no
Paul Green's MSP Marketing Podcast
Episode 237: MSPs: What it really means when a prospect says no

May 27 2024 | 00:35:30

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Hosted By

Paul Green

Show Notes

The podcast powered by the MSP Marketing Edge

Welcome to this week’s episode of the MSP Marketing Podcast with me, Paul Green. This is THE show if you want to grow your MSP.

In this episode I reflect on what it really means when a prospect says “no”.  Often it actually means “not yet”.  Building trust over time through multiple touchpoints can transform rejections into future opportunities.  (jump to)

I also face the truth that I’ve lived over half my life – this has sparked an urgency in my business practices. What if you had just one year to achieve your goals? This motivates me to act decisively, how about you?  (jump to)

In my chat with Brian Gillette, we explore how lunch and learn events effectively turn attendees into clients by focusing on relationship building over direct sales.  Have you tried these events for your MSP?  They’re challenging but worth it.  (jump to)

Lastly, I tackle a question from Ryan, who owns a fairly new and fairly small MSP in Chicago, about valuing employees when budgets are tight. I suggest non-monetary ways to value employees, like recognising efforts, providing personalised rewards, and offering growth opportunities – enhancing team morale and loyalty.  (jump to)

Join me as we unpack these topics and learn from some triumphs and trials in the MSP world. Oh, and don’t forget to join me in the MSP Marketing Facebook group.

READ FULL TRANSCRIPT

What it really means when a prospect says no

In the competitive world of business, especially in sales, a “no” from a prospect often stings, feeling like a personal rejection. This reaction isn’t just common among entrepreneurs – it’s practically universal, and understandably so. Many of us see our businesses as extensions of ourselves, so a refusal can feel deeply personal. However, in my experience, a “no” often means “not now – I don’t trust you yet,” rather than a flat-out rejection.

Trust is the linchpin in the relationship between clients and MSPs. Prospective clients are acutely aware that a wrong choice in MSP can lead to catastrophic outcomes for their business, which makes them extremely cautious. They often stick with underperforming MSPs simply because of familiarity, which feels safer than venturing into unknown territory.

To turn a “no” into a future “yes,” it’s essential to build trust long before the sales pitch. This means engaging with potential clients through multiple touchpoints – social media, newsletters, emails, and more. Each interaction is a step towards building a relationship that fosters trust.

Consider a prospect who has interacted with your brand 30 to 40 times before seriously considering your services. They’ve consumed your content and know your ethos. By the time they’re ready to switch MSPs, you’re not just another option; you’re a familiar, trusted entity. This doesn’t guarantee conversion, but it significantly enhances your chances.

Ultimately, every decline – whether due to concerns about cost, service suitability, or company size – boils down to a lack of trust. Effective MSPs must focus on becoming known and reliable long before the decision point, ensuring they are the trusted choice when prospects are ready to make a change.

Why 83% of MSPs fail when given a “NO”

The need for urgency in your marketing

Reflecting on the finite nature of life can be a sobering, sometimes startling exercise. Consider the average lifespan: roughly 76 years, or about 4,000 weeks. Plugging my own numbers into this stark timeline, I’ve clocked 2,592 weeks thus far. That leaves me with just 1,408 weeks if I reach the average – only 35% of my life potentially remains. It’s a perspective that adds gravity to each day and decision, especially as my 50th birthday approaches.

Facing these figures, it’s clear that traditional retirement isn’t on my horizon. I envisage shifting gears rather than stopping – perhaps moving into consulting, an avenue many deem an easier path. Yet, humour aside, the crunch of time is palpable when thinking about professional life and goals. If all goes to plan, I might exit my current business by 60 or 65, leaving me with 520 to 780 weeks to make significant strides. This timeline isn’t just a thought experiment; it’s a motivational force.

This urgency grows when you entertain a hypothetical… what if you had only one year left to grow your business, with the results dictating your lifelong income? The intensity and focus you’d bring to that single year would be unmatched. Such a scenario strips away trivial concerns and injects a potent dose of determination into our actions.

Why don’t we operate with this mindset consistently? Perhaps it’s because a timeline of 1,408 weeks feels expansive compared to a mere 52. But this is a luxury that blunts ambition and fosters procrastination. Whether you’re nearing your fifth decade like me, or enjoying the vigour of your thirties, the lesson remains the same. We should all engage with our goals and business growth with a sharpened sense of urgency.

I suggest taking a long walk to ponder these reflections – borrow a dog if you must. Let this mental and physical journey reshape your thinking. How could you accelerate your one-year goals to achieve them in six months? Upon returning, it’s crucial to transition these accelerated thoughts into swift actions. Every business owner, myself included, should be propelling our ventures forward with unrelenting drive, leveraging every week as though it’s our last.

Why your MSP MUST grow faster… and how

How to do successful lunch & learns

Lunch and learn events are pivotal for MSPs to connect with potential clients, but many hesitate due to fears of low attendance or ineffective presentations. Brian Gillette, a seasoned sales veteran with over 15 years in MSP sales and founder of Feel-Good MSP, offers strategic insights on hosting successful sessions.

Brian suggests that the key to a successful lunch and learn lies in addressing specific needs with practical solutions. For instance, focusing on tailored productivity hacks can transform the session from a general presentation into a valuable learning experience. This approach not only educates but also builds the crucial trust and relationships necessary for converting attendees into clients.

Moreover, Brian advises leveraging vendor partnerships to enhance these events while ensuring the MSP remains the focal point. Utilising vendor resources, such as marketing development funds, can amplify the event’s appeal without overshadowing the MSP’s expertise.

Ultimately, a successful lunch and learn should engage attendees with empathetic communication and actionable insights, turning a simple meeting into a powerful tool for business growth. By strategically using vendor support and focusing on relevant, practical content, MSPs can maximise the impact of these events, making them a cornerstone of client acquisition and retention strategies.

REVEALED: the secret to Lunch & Learn success!

FEATURED GUEST: 

Brian Gillette is an empathy driven MSP coach focusing on understanding clients’ needs and selling with trust and authenticity allowing him to handle objections seamlessly.

The priority he places on transparency throughout the entire sales process is what makes him invaluable to the MSP community.

Connect with Brian on LinkedIn and check out his website feelgoodmsp.com

 

How to keep staff happy on a tight budget

Got a question about your MSP’s marketing? Submit one here for Paul’s Personal Peer Group.

Navigating financial constraints within a small business, particularly within the tech industry, can be challenging, especially when it comes to employee satisfaction and retention. Ryan, a Chicago-based MSP owner, encapsulates this struggle perfectly, asking how he can make his team feel valued without the option of a pay rise.

Ryan’s concern is legitimate, after all, financial compensation is often the most straightforward form of employee recognition. However, when the budget is tight, there are creative ways to express appreciation that can resonate just as powerfully with employees.

Firstly, recognising and alleviating the day-to-day pressures your techs face can make a significant impact. Simple gestures like making coffee, offering a free lunch, or letting staff leave early on a busy week are acts of kindness that demonstrate empathy and gratitude for their hard work.

Investing in personal growth is another avenue. If funds are low, consider dedicating time for one-on-one coaching or providing personalised feedback. This not only helps in skill development but also shows a commitment to their career progression.

Lastly, tailored rewards can create memorable experiences. For instance, gifting sports tickets or unique experiences based on individual interests can make employees feel genuinely valued, often more so than cash bonuses.

These strategies not only foster a positive work environment but also strengthen loyalty and team morale, proving that thoughtfulness can indeed be as valuable as a pay raise.

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