Buying Signals

If someone phones up your MSP company and says “Our IT provider has gone bust, we need a new IT support company, can you help?” then it’s likely you’ve just been given a “buying signal”.

Unfortunately, that’s where it ends for most MSPs. They only deal with those businesses that - metaphorically speaking - jump onto the river-bank, flap around and shout, “okay, I give up - you’ve got me”, having just swallowed your stories of superior service hook, line and sinker.

The fact is that 99% of buying signals typically go unnoticed by you, your staff and - just as importantly - your referral partners.

It’s a similar story with most people’s online presence. They’ll have a website and haplessly waste 99% of their web-traffic and only capture those visitors that take immediate action by phoning up or completing the contact form, i.e. those visitors that want to 'buy now' and literally give themselves up. Of course, savvy marketers know that having lead-magnets and all sorts of other 'engagement devices' on their website which start a relationship and feed into a lead-nurturing system will make multiple times the amount of sales than those that don’t. A reasonable opt-in form may produce (say) a 5% conversion (or more) of traffic to leads which is a darn site better than a 1% “buy now” conversion rate, assuming those leads are nurtured properly.

In the real world, a buying signal could be as innocent as someone mentioning that they’re thinking of opening up another office or taking on another member of staff. Of course, in the right hands, that information is gold dust … but as we know, most people will never harness this, because they’ve never educated themselves, their team and their wider network of referrers how to leverage it.

Tomorrow (Wednesday 16 Sept) at 11.00 a.m., I’m interviewing a broker that offers cyber insurance and will be asking him how his services can help line the pockets of an average MSP. I think it’s fair to say that they come across various buying signals that a canny MSP would find useful to know. The link to reserve your place on this (free of charge and free of baloney) MSP zoom-meetup where you can ‘meet’ other MSPs is here …

By the way, if you want a list of ‘buying signals’ … let me know if you want it.

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