The modern technology landscape has evolved tremendously, imploring all managed service providers (MSPs) to rethink the value they bring to client partnerships. In the wake of a dynamic recession period and uncertainties due to global macro factors, MSPs are entangled with businesses that once did well but are slowing to almost zero.
The situation calls for MSPs to step up their game and elevate to business advisory roles, especially if they are going to strengthen existing client relationships and have a competitive edge. But how do you get there and match the expectations of shifting yet ever-increasing client expectations? Here is a quick guide on becoming a business advisor as a service provider for managed IT solutions.
6 Key Steps for MSPs to Become Strategic Business Advisors
Managed service providers looking forward to becoming business advisors in their domains can follow these steps:
Research the Client’s Business Needs
Conduct thorough research to understand your client’s business needs, requirements, and bottlenecks that stall growth. Having this information makes you a trusted partner and positions you to tailor services that match specific client needs.
Take a Proactive Approach to Identify Opportunities and Risks
After understanding the business, the next step involves exploring the risks and opportunities that your client faces. For instance, you can evaluate the competition or the client’s existing tech landscape to see how your new service fits in.
Offer Strategic Guidance
Go beyond the traditional IT support and offer expert guidance on new technologies, reimagined business objectives, and steps to follow for overall improvement. In other words, you can suggest cost-saving opportunities or any meaningful insight based on your findings from the previous step.
Optimize Communication Channels for Seamless Collaboration
Streamline your communication channels by setting up regular touchpoints to foster seamless collaboration. This step will also help you gather feedback and share progress updates as much as needed.
Make a Holistic Offer
The next step entails making a holistic offer that includes all-in-one services customized to meet diverse client needs. For example, some of the most sought-after business advisory services include software development, cybersecurity, and cloud computing.
Measure, Iterate, and Demonstrate Value
Lastly, set up key performance indicators (KPIs) to track and assess the progress of your services. As an MSP, this will help you demonstrate your value and meet the client’s goals.
How Do MSPs Gain by Becoming Strategic Business Advisors?
Business growth is both a challenge and necessity for every entrepreneur, not just MSPs and their clients. However, MSPs can benefit more if they help their clients overcome growth challenges by offering strategic business advice. For instance, this approach translates to:
Stronger Client Relationships
Offering strategic business advisory services can help MSPs improve service delivery and enhance their existing client relationships in the process. Moreover, expanding service offerings reduces customer churn rate since clients don’t have to juggle multiple service providers.
New Revenue Opportunities
Business advice as a service is a new revenue stream that can help MSPs expand to new markets, improve remunerations for their teams, and achieve other core business goals. Moreover, MSPs can always charge premium fees for their services after rebranding and proving their value.
Increased Client Satisfaction
Business clients who gain more from their MSPs in terms of prudent advice on adopting new technologies are likely to be more satisfied. This translates to unwavering customer loyalty that extends to direct word-of-mouth referrals.
Enhanced Brand Reputation
By providing valuable insights and expert guidance on shifting business patterns, MSPs can carve out a name for themselves as strategic and thoughtful partners. In return, this enhances brand reputation, making it easier to roll out new services and reinforce corporate partnerships.
Distinction From the Competitions
Popular review forums like G2 list over 430 global MSPs for clients to evaluate and pick, not to mention regional service providers. By expanding their offerings to professional business advice, MSPs can stand out from this crowd and drive higher profit margins.
Rejuvenated Business Acumen
As strategic business advisors, MSPs can develop a more in-depth perspective of the corporate world and best practices to revive their business acumen. This can help them branch into new markets and industries beyond their traditional areas of specialization.
Enhanced Job Satisfaction
MSPs who draw self-fulfillment from meeting the technical needs of their clients can experience more job satisfaction by offering solutions to more business pinpoints. Higher job satisfaction means self-actualization, which can help MSPs exploit their full potential in all angles of life.
Looking for a strong partnership?Reach out to Langate
Software Development Offer for MSPs: Amplifying Value with Langate Partnership
Langate Software is a resourceful technology partner that can help MSPs expand their offerings to clients and transition into business advisory roles. Here are the services MSPs can tap into to branch out into new business horizons and forge strategic partnerships:
As a reputable partner for heritage tech transformation, Langate Software offers consulting services to help MSPs guide their clients through choosing new tools, platforms, and innovations that match specific business goals. In the long run, MSPs win by helping clients settle for the right, cost-effective IT solutions.
MSPs can partner with Langate Software to assist their clients in moving from legacy technology to modern software. Legacy system transformation, which can also extend to cloud migration, is essential for staying relevant and gaining the upper hand over the competition.
MSPs can maximize the potential of their existing business systems by tapping into Langate Software’s integration services for seamless scaling, data flow, and connection with client systems.
Managed Services for Software Solutions
MSPs who partner with Langate to build software solutions benefit from ongoing technical support and maintenance. This extends to any other managed service for optimizing the system’s performance and uptime, freeing you to focus on business advisory roles.
Flexible Engagement Models
The offerings of Langate software include multiple engagement models to complement the intricate needs of different MSPs. You can choose from project-based collaborations, dedicated teams, or staff augmentation.
The technology field continues to widen, and clients are looking for service providers who can offer immense value beyond traditional technical assistance. For MSPs, this is an opportunity to scale service offerings and assume advisory roles to help steer business growth. This evolution translates to more revenue opportunities, increased customer satisfaction, and improved service delivery, among other benefits.