As a Managed Service Provider (MSP), you know that marketing is critical to growing your business. You need to understand how to get the most out of your marketing spend to maximize your ROI. This blog post will provide an overview of the benefits and pitfalls of marketing for MSPs so that you can optimize your budget and make more informed decisions about where to allocate resources.
The Benefits of Investing in MSP Marketing
One of the primary benefits of investing in MSP marketing is increased visibility. There are many ways to increase visibility, from organic search engine optimization (SEO) tactics to paid advertising campaigns on Google or Bing or even social media platforms like Twitter and LinkedIn. These campaigns help create awareness for your brand and warm them to work with you.
Digital Marketing is cheaper than Sending sales teams knocking.
Another critical benefit of MSP marketing is that it allows you to target your ideal customers more effectively. You can use demographic and behavioral data to create highly targeted campaigns around specific pain points or needs, increasing the likelihood that potential leads will see value in working with you. Creating a personalized customer experience can also improve conversions and reduce churn. Not many big MSPs know the actual cost of outbound sales. Between Sales commissions, entertaining clients, conference booths, internal marketing material, etc., Digital Marketing can reduce the overall cost by 50% or greater.
The Pitfalls Of Investing In MSP Marketing
There are also some potential pitfalls to consider when investing in MSP marketing. One common issue is that you might waste your budget on ineffective campaigns or tactics without a clear strategy and enough resources. Increased visibility doesn’t pay the bills, and you have a bad product/service/customer experience; good marketing will only make your MSP biz fail faster.
The biggest pitfall in MSP marketing is someone will still have to close the deal. Many MSP marketing budgets are wasted because there is no follow-up process or the sales team fails to engage with leads quickly enough. Marketing is excellent at bringing the horse to water, and your product (and sales team) will still have to make the horse drink it.
Benefits of Sales & Marketing working together
When these two teams collaborate closely, they can craft more targeted campaigns that deliver better results. Sales teams also benefit from having access to marketing data and insights about potential leads, which helps them focus their efforts on qualified leads and close more deals. Marketing is not Sales, and Sales is not Marketing. Sales understand the customers, their pains, and their needs. And Marketing knows how to get in front of those prospective customers with better offerings. When they work together, they can be like a 1-2 punch to knock out deals.
Account-based marketing (ABM) allows for greater focus and alignment across marketing and sales teams and more targeted messaging that resonates with your target audience. Using data and analytics to identify key decision-makers at specific companies, sales and marketing teams can collaborate more effectively to reach potential leads. This increased alignment can lead to improved ROI from your marketing efforts, higher conversion rates, and lower churn among existing customers.
To Wrap it Up
Whether you are a new or established MSP, it is essential to invest in marketing if you want to grow your business, not just now but next year. We must plant trees now for our customers to buy our fruits in the future.
MSPs customer’s buyer’s journey is a long process (the latest figures we saw were 450+ days). It is essential to understand the work of the Marketing and Sales departments will take time.
Investing in an effective MSP marketing strategy can benefit any organization looking to increase visibility, build trust with potential customers, and grow their business overall. Understanding both the benefits and pitfalls associated with investing in an effective MSP marketing strategy will help ensure that you get maximum return on investment from your marketing spend while avoiding costly mistakes.