The Biggest Ways MSPs Burn Profits – Part 5

To catch up on part 4 click here now…

While others took up bread baking and puzzles during COVID‑19 quarantine, I subscribed to HelloFresh, a meal delivery service, as an attempt to replace eating out. 

Here’s my quick review of the whole thing…

The meal selection is just average, it arrives on time with all ingredients preserved (no raw chicken juice getting the box all wet), and the meals themselves are “meh” tasting. But the MARKETING that this company does INSIDE of the box? WHOA!

I got a killer deal on a month’s worth of prepackaged meals, so I’m not complaining. But the cross-sell marketing that this company does is absolutely something to be studied!

Every single week with my delivery, I get a free, members-only offer for a complimentary service or product that is inside of the HelloFresh box. If I order custom meal-prep box subscriptions, I am a prime candidate for any other subscription services. And they are   a dang good job at not only making me feel like I’m a part of a club, but also by constantly looking for ways to upsell me on additional subscriptions. 

I’ve gotten offers for trials of subscriptions for customized shampoo, wine clubs, snack boxes, razors, and even organic cleaning supplies! 

Learn from this! One of the quickest ways to get fast revenue without adding a single new client is to cross-sell

There are two CRITICAL parts to successfully marketing a cross-sell solution:

  1. List segmentation to identify who is a candidate for the solution
  2. Highly targeted messaging to those candidates on why they need other specific solutions from you

How To Slice And Dice Your List For Delicious Opportunities

You should be able to quickly and easily segment your client list to push out an easy upsell email. After all, they already know, like, and trust you and are already writing you a check for your services. They are your prime candidate. 

If you can’t (in just one minute) pull together an instant list of all of your active managed services clients who are in the legal industry who do NOT have your VoIP solution, then you’re throwing away money.

If you can’t (in five minutes) quickly snag that list and send Robin’s pre-written VoIP upsell email campaign, then you’re missing easy opportunities.

If you can’t instantly be able to see who engaged with that email, then you’re losing out on easy sales.

If you don’t have a CRM in place that allows you to do this, then you’re truly BURNING PROFITS!

‘You Talkin’ To Me?!’

Segmenting your list also enables you to tailor your message to exactly who you are marketing to. The tighter you can align your message (what the marketing says) to your market (who you are sending it to), the more conversions you’re going to see.

For example, if you don’t have a CRM in place but need to send out the VoIP upsell email campaign NOW, you likely will go into your PSA tool and just send it to all clients, regardless of if they have VoIP or not because you don’t have the capability to make this list quick. The message will have to be super generic to apply to all and not confuse people who already have that service. When something is generic, it gets ignored.

On the flip side, when you use a CRM that enables you to pull that list of all active managed services clients in the legal industry who do not have your VoIP services in just seconds, your message can be specifically centered around exactly why law firms especially need premier phone service, and because they are an existing managed services client, it’s easy for you to quickly add this service for them. When marketing is specific and hits on the exact pain points and needs the person has, that’s when the magic happens.

As you know, we use and recommend Keap (formerly Infusionsoft). We also utilize Keap to power our Marketing Automation Platform (MAP) for Managed IT Services. It is now the No. 1 most-used CRM in the MSP-space (side note, your PSA tool is NOT a CRM!) and does a phenomenal job at enabling you to “slice and dice” your database. It also comes pre-loaded with a bunch of Robin’s cross-sell email templates so that you can lightning-quick get opportunities that are waiting in your existing client base.

With any CRM, you should be able to search any which way on things, like services they have, industry, number of computers, location, last audit date, lead source, association membership, campaigns sent, response to campaigns, last engagement, person type … the list is truly endless! You can choose to capture whatever piece of data you want! And you can pull these lists quickly to get out fast cross-sell campaigns that generate opportunities easily!

If you don’t have MAP for Managed IT Services and want to learn more about automating your marketing and streamlining your sales process, click here to learn more.

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