I wrote recently about how MSP’s should sell benefits, not features when speaking to prospective new clients.
Focusing on what the business owner is interested in - saving money or making money - will bring better results than focusing on technical features of solutions.
With that in mind, you can take this approach to the next level by consistently building a strong business case whenever you pitch for new business.
A business case is, simply put, reinforcing your recommendations by reminding prospects about their real needs.
For example, if a prospect approaches you saying they want a new e-mail system - that isn’t the real need.
There is a reason the business wants a new e-mail system, and it’s your job to find out why. It may be that e-mail is slow or unreliable, losing that business potential customers. It may be that the e-mail isn’t capable of handling large file attachments, causing the prospect problems exchanging files with their clients or plagued by spam and malware attachments.
Whatever the reason is - you need to understand it, and when you pitch your email solution to the prospect, re-iterate the problem they are trying to solve and why it is important to their business.
You can further reinforce why your solution will help solve the prospects business challenges by giving a financial justification for the sale.
How much is the prospects challenge costing the business?
In our example of slow or unreliable e-mail - do the sums, and assign a dollar figure to the business that has already been lost. Add this figure to the time and money prospects are wasting on slow e-mail and will likely to continue to be lost if the prospect doesn’t implement your solution.
Your business case should demonstrate the money the client is going to save or indeed make by working with you.
When you submit a business case that includes the facts about the issue the prospect is trying to fix, along with financial justification for their outlay in resolving the problem - you create a sense of urgency in them.
A prospect that understands the problem they are experiencing fully, and clearly sees how much that problem is costing them in dollars is very unlikely to procrastinate over making a decision. Time is money to them.
If you’ve ever submitted a quote or proposal and then spent days or even months waiting for a decision from the prospect, then you probably haven’t submitted a strong business case. Offering a business case with your proposals or quotes compels the prospect to make a decision sooner rather than later.
MSP’s should sell benefits, not features - and these benefits should be backed up by a strong business case.
A business case that reinforces the problem the prospect is trying to solve, the time and money it that problem is already costing the client, and the financial justification for buying in your solution will compel your prospects to make a decision quickly and decisively.
As the former owner of an award winning IT Managed Service Provider, Richard Tubb works with MSPs to help them increase sales, take on employees and build up relationships with key industry contacts. You don't have to do it alone any more - contact Richard and have a chat about your needs and how he can help you.