{"id":16354,"date":"2018-07-09T13:32:37","date_gmt":"2018-07-09T17:32:37","guid":{"rendered":"https:\/\/www.sherweb.com\/blog\/?p=16354"},"modified":"2019-02-20T19:52:47","modified_gmt":"2019-02-21T00:52:47","slug":"cross-selling-opportunity-msp","status":"publish","type":"post","link":"https:\/\/www.sherweb.com\/blog\/partner\/cross-selling-opportunity-msp\/","title":{"rendered":"The Cross-Selling Opportunity: How MSPs Can Avoid Leaving Money on the Table"},"content":{"rendered":"<p>Sales isn\u2019t your strong point? You\u2019re not alone. Lots of MSPs are missing the mark when it comes to cross-selling. Surprisingly, many sell just one solution to their clients and thus miss out on real profitability and long-term value.<\/p>\n<blockquote><p>The probability of selling to an existing customer is up to 14 times higher than that of selling to a new customer. &#8211; <a href=\"https:\/\/www.business2community.com\/strategy\/6-times-expensive-win-new-customer-retain-existing-one-01483871#ELdf0w36szVhVrrO.97\" target=\"_blank\" rel=\"noopener\">Business 2 Community, March, 2016<\/a><\/p><\/blockquote>\n<p>But cross-selling is easier than you think. You\u2019re probably presented with opportunities every day to offer complementary products or services to an existing customer. When you succeed in cross-selling your services or solutions, you increase stickiness and drive recurring revenue for your business. And your customers? They save time by buying supplementary products they need from one place.<\/p>\n<h3><a href=\"https:\/\/info.sherweb.com\/salesdifferentiation.html\" target=\"_blank\" rel=\"noopener\">Looking to improve your sales? Get ahead of the competition with our guide to differentiation.<\/a><\/h3>\n<p>Let\u2019s look at these effective cross-selling strategies:<\/p>\n<ul>\n<li>Identifying cross-sell opportunities<\/li>\n<li>Bundling done right<\/li>\n<li>Creating a great customer experience with cross-selling<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2>1. Identify cross-sell opportunities<\/h2>\n<p>Suppose you stroll down to your local Apple store to buy a new MacBook. When you\u2019re at the checkout, the cashier recommends that you purchase supporting products like AppleCare and additional software. Clever, right? You just witnessed cross-selling in action.<\/p>\n<p>As in this example, cross-selling typically happens at the point of sale. So if you\u2019ve ever bought anything from Amazon, for example, then you\u2019re likely familiar with their cross-selling pitches, such as \u201cCustomers who bought this item also bought\u201d and \u201cFrequently bought together.\u201d<\/p>\n<p>It\u2019s easier to suggest new products when you\u2019ve already established trust with a satisfied customer. To start cross-selling, you\u2019ll want to identify your most loyal customers or those most likely to purchase an additional product from you. Of course, there are exceptions; not every customer will be quick to jump on your product recommendation.<\/p>\n<p>Next, pay attention to cross-selling opportunities while talking with them. Do you notice any questions that continuously pop up, either in conversations or email exchanges? If so, start thinking of a new product or service that can address their specific pain points.<\/p>\n<h3>Make recommendations based on their needs<\/h3>\n<p>It\u2019s no secret that Office 365 is a great foot-in-the-door product to sell to your customers. You can also use it to cross-sell other add-ons.<\/p>\n<p><strong>Here\u2019s how you can position and offer your Office 365 customers simple add-on solutions in the following areas:\u00a0<\/strong><\/p>\n<h4><strong>Security\u00a0<\/strong><\/h4>\n<p>As Microsoft\u2019s fast-growing solution, Office 365 is quickly becoming a primary target for attacks, which makes the case for more robust cloud security infrastructure.<\/p>\n<blockquote><p>\u201cOf the 80 billion messages sent to Office 365 inboxes in a month\u2026 over 20 million contain malware or phishing messages.\u201d &#8211;\u00a0<a href=\"https:\/\/www.cio.com\/article\/3177718\/email\/why-email-is-safer-in-office-365-than-on-your-exchange-server.html\" target=\"_blank\" rel=\"noopener\">CIO magazine, March, 2017<\/a><\/p><\/blockquote>\n<p>Although, Microsoft recently improved the default security on Office 365 with ransomware detection and recovery, it isn\u2019t enough to protect you from today\u2019s sophisticated attackers. Fortunately, you can opt for <a href=\"https:\/\/www.sherweb.com\/office-365\/security\/\" target=\"_blank\" rel=\"noopener\">better alternatives<\/a>.<\/p>\n<h4><strong>Backup\u00a0<\/strong><\/h4>\n<p>Modern businesses look for the most reliable and user-friendly backup solutions on the market. They need to be able to easily back up mobile devices, computers and files, even applications like Office 365. You can offer a local or on-site storage backup system for those who still choose to store their data on external hard drives, or you can provide a cloud storage solution like <a href=\"https:\/\/www.sherweb.com\/online-backup\/\" target=\"_blank\" rel=\"noopener\">Online Backup<\/a>.<\/p>\n<h4><strong>Training<\/strong><\/h4>\n<p>Businesses don\u2019t have time to waste when it comes to learning how to use Office 365 effectively and keeping up with constant updates. That\u2019s why they need Office 365 e-learning platforms, like <a href=\"https:\/\/info.sherweb.com\/O365-on-demand-webinar-QuickHelp-product-launch.html\" target=\"_blank\" rel=\"noopener\">QuickHelp<\/a>. They\u2019ll get tailored training plus save time and boost productivity. You\u2019ll increase the value of your MSP offering and cut down helpdesk calls.<\/p>\n<h3>Emphasize the benefits<\/h3>\n<p>When you pitch an additional product to your customer based on their needs, make sure that you point out how it\u2019s going to improve the operational efficiency of their organization. For example, if you cross-sell VoIP services, you\u2019d focus on the benefits that the customer cares about, such as big cost savings, unlimited minutes, and easy-to-use features that are ideal for working both inside and outside normal business hours.<\/p>\n<p>Bottom line: Avoid a generic pitch that merely lists the features of the product. Instead, you need to pitch the solution by highlighting how the product addresses the customer\u2019s problems.<\/p>\n<p>&nbsp;<\/p>\n<h2>2. Bundling done right<\/h2>\n<p>Bundling your services is a big cross-sell opportunity. With bundled services, your clients benefit from multiple services at a lower price than if they were to purchase these services separately. However, it might be difficult to offer a service bundle if you\u2019re a small MSP or restructuring from break\/fix. You might also lack the manpower and expertise to effectively manage their IT.<\/p>\n<p>Looking for a solution?<\/p>\n<p>You can boost your profitability and get a leg up on the competition by partnering with a trusted provider like Sherweb. This way, you won\u2019t have to do any of the heavy lifting.<\/p>\n<h3>Bundling helps you:<\/h3>\n<ul>\n<li>Reduce churn<\/li>\n<li>Drive revenue and profitability<\/li>\n<li>Provide convenience and value to your clients<\/li>\n<\/ul>\n<p>Each of your offerings should be fully supported and operational. Take Sherweb\u2019s VoIP phones as an example\u2014all you need to do is plug and play. This is a smart way to deliver a simple solution to your client while generating high-profit project revenue.<\/p>\n<p>&nbsp;<\/p>\n<h2>3. Create a great customer experience with cross-selling<\/h2>\n<p>Here\u2019s a typical cross-selling scenario:<\/p>\n<p>You\u2019re talking to your Office 365 client about integrating Dynamics CRM to boost their organization\u2019s performance, either as an on-premises solution or cloud application. Consider focusing on the aspects they\u2019ll care about most, such as:<\/p>\n<ul>\n<li><strong>Advantages<\/strong>: How will the product simplify their day-to-day processes, save them money, and increase productivity?<\/li>\n<li><strong>Price<\/strong>: Does the price demonstrate the value of the product?<\/li>\n<li><strong>Support<\/strong>: Can you provide them with the level of support they need? What can you give them in terms of customer experience that will set you apart from the competition?<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Capture Growth &amp; Reduce Churn<\/h3>\n<p>If you\u2019re only selling single subscriptions, you\u2019re letting your clients slip through the cracks. They\u2019ll eventually switch to your competitors, and you\u2019ll lose out on the opportunity to grow your revenue.<\/p>\n<p>Cross-selling can help you secure long-term customer loyalty and position yourself as more of a business consultant than just a generic technology provider. You\u2019ll also make it harder and costlier for customers to switch to other providers by offering them affordable bundled solutions.<\/p>\n<p>As an MSP, you know that sales is the lifeblood of your business. Need help with sales pitches, closing deals, and providing round-the-clock technical support to your customers and prospects? Learn all about our partner program that <a href=\"https:\/\/www.sherweb.com\/en-ca\/partners\/\" target=\"_blank\" rel=\"noopener\">guarantees success<\/a>.<\/p>\n<p>Got any questions? Drop us a line via our chat!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales isn\u2019t your strong point? You\u2019re not alone. Lots of MSPs are missing the mark when it co","protected":false},"author":177,"featured_media":14010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[750],"tags":[],"class_list":["post-16354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-partner"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The MSP Cross-Selling Opportunity: Avoid Leaving Money on the Table<\/title>\n<meta name=\"description\" content=\"Lots of MSPs miss the mark when it comes to cross-selling. 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