MSP Success and Customer Loyalty Hinge on These Three Strategies, Survey Says

Netwrix survey of 50 North American MSPs uncovers what’s needed for success in terms of customer loyalty and growth.

Customer loyalty and driving business growth. These are two of the most important areas of focus for MSPs, as well as two of the biggest challenges. For most, if not all, customer loyalty and retention and growing one’s business are at the forefront of your MSP company goals, and are so closely intertwined it can be difficult to carve a clear path.

Back in December, Netwrix, a vendor of information security and governance software, surveyed its MSP partners in North America in hopes of determining which techniques and activities were most successful for demonstrating value to clients and driving business growth.

The survey uncovered three primary strategies that are instrumental in increasing customer loyalty and getting a leg up in the race in 2020:

  • Capitalize on changing market trends
  • Provide vertical-specific solutions
  • Partner with your vendors

Let’s dive into these a bit deeper.

Capitalize on Changing Market Trends

Security and compliance offerings could become a game-changer for managed service providers. This has already started to become abundantly apparent across all industries. Organizations of all sizes now face increasingly serious and malicious security threats and must comply with the complex regulations set forth.

According to the survey, MSPs that have added solutions for security and compliance on top of their standard offerings report a variety of business benefits, including being able to increase customer satisfaction (51% of respondents), improve their reputation (44%) and ensure system uptime for customers (37%).

Provide Vertical-Specific Solutions

The survey found that the top industries targeted by MSPs are professional services like legal or real estate (66%), the financial sector (63%) and health care (63%). Organizations from these verticals are highly regulated and must comply with both specific industry standards and privacy legislation like the GDPR and the CCPA. MSPs that have bundled industry-specific services with solutions for auditing say they have achieved continuous compliance (87%) and improved security (55%) for their customers.

Partner with Your Vendors

Vendors and MSPs need to be tighter. Vendors can be an invaluable source of knowledge about technology, common use cases and successful implementation — information MSPs need in order to better understand customer needs, accelerate the sales process and ultimately provide more value.

Those MSPs who were surveyed claim that they have gleaned the most value from training programs and demo sessions provided by vendors (64%) and joint marketing activities. In 2020, 69% of surveyed MSPs anticipate participating in joint customer-facing events (e.g., Lunch and Learn sessions), 44% plan to take part in joint webinars with vendors and 39% will launch co-marketing email campaigns. Also, 67% are taking advantage of testimonials, reviews and customer success stories shared by vendors. This is huge, folks.

“One of the key success factors for a managed service provider is having a close relationship with each client,” said Ken Tripp, director of channel accounts at Netwrix, in the press release announcing the survey. “You need to understand their business needs and offer a solution that solves their critical issues. Close collaboration with vendors is also essential. Joint marketing activities and deep training will increase your product expertise, enabling you to address customer pain points more effectively, sell more into existing clients, expand your client base and maximize customer satisfaction rates.”

Source: ChannelFutures

————————————————————–
Have you checked out the new WhichVoIP.co.za website as yet? Benchmark your services against your peers, have a look at what your competitors are doing, get listed in the best Telecoms provider directory in South Africa, and advertise on the site to attract customers to your page where you can view page hits, respond to reviews, load adverts, and more.

Visit WhichVoIP.co.za or jump to a leading comparison section:

Enjoy the site!

————————————————————–

About Telecoms-Channel

Telecoms-Channel.co.za is your one-stop source for the latest news and insights from the telecoms industry in South Africa, where you get comprehensive coverage of the industry and keep up with the ever-evolving market landscape.

Whether you need to understand market trends, identify new opportunities, or stay informed of the latest developments, we have you covered.

In addition to bringing the best news together, we have access to an extensive supplier network that makes it easy for any telecoms company looking to tap into new markets or enter the telecoms industry. Take advantage of our expertise and contact us today to find your next partner!

Other posts you might be interested in

Ericsson LG
Industry News

Ericsson-LG’s Key Trends Shaping the Future of Enterprise Communication

Ericsson-LG is at the forefront of transforming the business communications landscape. By harnessing the power of artificial intelligence, cloud technology, and robust cybersecurity, the company is empowering businesses to enhance productivity, streamline operations, and improve customer experiences.

Cloud PBX Solutions

Request Once, Get Multiple Quotes - Save Thousands!