Richard Thomas
On average, customer churn costs businesses around $1.6 trillion per year. This is terrible news across all industries, often exceeding the costs of customer acquisition in the first place. Worse, bringing new clients up to the same level as those lost accounts can cost as much as 16 times more than holding onto them. For…
In the wake of great change comes great opportunity and, where service providers are concerned, 2021 spells a new chance to come out as a strategic leader. After all, as businesses continue to embrace remote work as normal, MSPs are better positioned than ever to prove their value. Unfortunately, in a services market that’s mired…
While 2021 has seen some service providers enjoying as much as a 300% increase in uptake, the pandemic has caused plenty of whirlwinds within the industry. More than half of MSPs ultimately saw monthly revenues decrease as a result of the shutdown, and more struggled with challenges including a lack of time (54%), changing technologies…
Implementing any new tool can be stressful. You want to provide the best possible value for your customers at all times, and risks of downtime or teething problems simply don’t allow you to do that. This can mean lengthy, segmented integrations or, worse, sticking with a tool that doesn’t suit simply because it seems like…
2020 was, most definitely, a difficult year. No matter the sector, companies faced the most significant operational shifts in their histories. And, as the way businesses work changed, so did the services and expectations of MSPs. On the surface, this sounds like trouble. No one likes change, after all, and MSP, service providers and network…
2020 has been a disruptive year. But change always presents opportunities, and 2021 will be the year where more sustainable foundations are built on the back of these changes. For MSPs, the economy-wide embrace of remote working is a positive shift. It places the smooth operation of network services at the centre of business success,…
If you want to grow your MRR (monthly recurring review) you need to do three things: Make sure your sales teams prioritise recurring sales. Find new and creative ways to upsell and cross-sell to customers. Retain customers and differentiate your service. Here, we’re going to look at how this can be done and how you…
There are interesting glimmers of a different future. For example, a Service Leadership Index research report calculated that while the average profit margin for an MSP is 8%, market leaders pull off 18%. Of note, telecommunication equipment sales generally have higher margins than services — 12.5% vs 4.3% respectively. Fundamentally, 2020 has been a year…