This is the next article in a series of adapted excerpts from my book, MSP Secrets Revealed (episode #2 is coming soon, with your help).
I wanted to share some of the interviews I did for that book with the world at large and so each month during 2022, I’m sharing one secret from the book with the world to inspire.
This next one is from Nigel Moore. If you’ve never met Nigel, you’re missing out on a bit of life. He runs The Tech Tribe – possibly the world’s greatest MSP community. I’ve been part of it for the last two years and am honoured to be a ‘Tribal Elder’. You’d be crazy not to at least take a peak – and no – I’m not on commission – I just believe in what goes on there.
Nigel’s secret centred around pricing and applies to all businesses – not just MSPs.
Don’t sell commodity
Our core MSP services are becoming more and more commoditized and so over time, the only real differentiation will be … price. I want to encourage you to SMASH that type of thinking out of your head.
Coffee is a commodity, yet some people sell it for $0.01 per cup and others sell it for $5 per cup.
Flying is a commodity, yet some people sell a seat on a plane for $29 and others sell the same seat for $299.
T-shirts are a commodity, yet some people sell t-shirts for $1 and others sell them for $1,000.
Things like experience, emotion, comfort, fear, a sense of belonging, status, etc. ALL have a direct impact on how much someone will pay for a (seemingly) commoditized product/service.
Sure, monitoring, maintenance, support etc is “commoditized” to a degree – but all the stuff / experience around it isn’t.
If Nigel’s thinking doesn’t shake up your perception of pricing and value, then you need to take yourself outside and give yourself a good talking to. You’ll find a lot more in his book. Search “Nigel Moore book” and dive in.
If you’re not selling on price, what are the other options to push price down the list of buying critera? Price will always be lurking – it’ll never not be a consideration – but wow-ing and persuading customers using the power of customer experience is so important.
Do you have 100 5 – star Google Reviews, and dozens of testimonials – video or text – on your site and within your sales process?
If you do – you will know that’s the ultimate demonstration of credibilty. It shows that you are more than a safe pair of hands – it’s shows you’re the go-to people. You’ve got ultimate trust from your customers. Prospects will pay a premium for that piece of mind.
In Shep Hyken’s recent survey, The State of Customer Service and CX, I want to pull out 2 stats for you:
42% of respondents would rather clean a toilet than call customer support.
Would this be the perception of your business? If so, you will almost certainly need to sell on price in a race to the bottom.
Turn this around. Make your business both responsive and “convenient” to do business with.
When EVERYONE in your team interacts with customers, ensure that the Human Customer Service ethos kicks in. This concept is something I’m passionate about and talk about regularly.
Here’s something else for you to consider and 100% backs up Nigel’s secret:
58% of respondents said that customer service is more important than price.
Wow. Whilst it shouldn’t be a surprise, it kind of is. And I know that stats can prove anything, however, it’s one I don’t think you can ignore.
If you’re selling purely on price, it’s time to start thinking differently.
Before you go …
Nigel runs a brilliant community and coaching program for MSPs. I should know, I’m part of it.
Use the link below to get your first month’s membership at a 40% discount.