Simplified Product Lines
Becoming a world class Strategic Technology provider has never been easier. However, to accomplish this you need to have the right tools, mindset and training.
The Problem
No one likes complex product lines. We want to buy a product that solves the problem rather than trying to understand the nuances of licencing. Ya...I am looking at you Microsoft. Seriously, the number of times I have run into licensing issues with MS in my career...That is why I was so happy when SaaS solutions started coming around. One monthly fee and you get access, that's it. This allows you to run forward with your clients at full speed without roadblocks.
Unfortunately, with Managed Services Platform and Virtual C being separate companies with separate solutions that relied on each other this made things complex. We had the bloat issue Denes talked about in last week’s blog “Integrated Seamless Solution”. Not only did you have to think about which MSPL product fit best, you also had to decide if the HIT framework and vCIO templates were right for your business model.
The Solution
With the merger one of the biggest motivators was to have one integrated seamless solution. With that came simplified product lines There are, no longer any complex add on software packages and no complications with who you need to talk to to get support. .
Simply find the package that fits your business model and go. Each new package we roll out over the next few months will include the HIT framework as well as all templates generated by Virtual C and MSPL over the past 7 years. Everything you need to succeed today. The major difference between the packages going forward will be how much time you can dedicate to client management activities.
- Essentials Package: Is turnkey, no editing, fast and easy deployment so you can start changing the narrative immediately.
- Expert Package: Built for the busy MSP that is wanting to customize the look and feel of their reports, scorecards, and message.
- Elite Package: For MSPs that have a variety of clients, this package will allow them to consistently meet with multiple clients and multiple account managers.
- Enterprise Package: for the MSP who needs to do it all and manage large teams through the software.
Don't worry, all you existing members are grandfathered in, your existing packages will not change and you will be able to continue doing business as usual.
Immediate benefits:
- Humanize IT templates and coaching will be available in all new packages going forward.
- MSPL Entrepreneur Package will be recrafted as a turnkey solution for $199/mo!
- All Member questions will go through Member Success Department led by Skip Ziegler.
- Humanize IT Framework staff training course available for continued education
- Free quarterly vCIO success coaching to all who opt in to a new package
We hope that you see how this will help take your program to the next level. Simple, easy and effective so you can keep serving customers in your new capacity as a world class strategist and tech provider.
Merger Informational Webinar - Apr 22
SIGN UP NOW
Integrated and Seamless Solution
Becoming a world class Strategic Technology provider has never been easier. However, to accomplish this you need to have the right tools, mindset and training. In this video and blog we spend some time talking through how streamlining our products is resulting in a big win for MSPs wanting to take their client engagement to the next level.
The Problem
No one likes complex product lines. We want to buy a product that solves the problem rather than trying to understand the nuances of licensing. Ya...I am looking at you Microsoft. Seriously, the number of times I have run into licensing issues with MS in my career...That is why I was so happy when SaaS solutions started coming around. One monthly fee and you get access, that's it. This allows you to run forward with your clients at full speed without roadblocks.
Unfortunately, with Managed Services Platform and Virtual C being separate companies with separate solutions that relied on each other this made things complex. We had the bloat issue Denes talked about in last week’s blog “Integrated Seamless Solution”. Not only did you have to think about which MSPL product fit best, you also had to decide if the HIT framework and vCIO templates were right for your business model.
The Solution
With the merger one of the biggest motivators was to have one integrated seamless solution. With that came simplified product lines There are, no longer any complex add on software packages and no complications with who you need to talk to to get support. .
Simply find the package that fits your business model and go. Each new package we roll out over the next few months will include the HIT framework as well as all templates generated by Virtual C and MSPL over the past 7 years. Everything you need to succeed today. The major difference between the packages going forward will be how much time you can dedicate to client management activities.
- Entrepreneur Package: Is turnkey, no editing, fast and easy deployment so you can start changing the narrative immediately.
- Pro Package: Built for the busy MSP that is wanting to customize the look and feel of their reports, scorecards, and message.
- Delegate Package: For MSPs that are ready to delegate activities to multiple account managers,vCIOs and team members.
- Teams Package: for the MSP who needs to scale sales and services across a variety of teams to ensure nothing falls through the cracks.
Don't worry, all you existing members are grandfathered in, your existing packages will not change and you will be able to continue doing business as usual.
Immediate benefits:
- Humanize IT templates and coaching will be available in all new packages going forward.
- MSPL Entrepreneur Package will be recrafted as a turnkey solution for $199/mo!
- All Member questions will go through Member Success Department led by Skip Ziegler.
- Humanize IT Framework staff training course available for continued education
- Free quarterly vCIO success coaching to all who opt in to a new package
We hope that you see how this will help take your program to the next level. Simple, easy and effective so you can keep serving customers in your new capacity as a world class strategist and tech provider.
Merger Informational Webinar - Apr 22
SIGN UP NOW
Merger meant for you
Virtual C and Managed Services Platform have been working together to create tools to increase customer success since 2017. Together we have created a turnkey product line with all the tools, templates, coaching and resources necessary for success. These all form the battle-tested Humanize IT framework that many of you are familiar with.
This merger will help the MSP community address the increased pressure of staying competitive through client engagement and demonstrating strategic value to clients.
You might be asking one big question: what is the goal of this merger?
The goal is to enable MSPs of all sizes to work less and achieve higher client engagement through one seamless solution. This will help give more streamlined help and allow us to serve you better.
One thing this pandemic has made clear is that MSPs can no longer wait to improve their client engagement, QBRs and IT strategy processes. MSPs now know the need to demonstrate their value to clients and standardize their technology stack in order to stay competitive.
MSPs often lack clear direction, knowledge, resources and time to make this a reality. That results in price pressure, client churn and lost profitability.
Managed Services Platform has developed one of the most advanced software tool sets for vCIOs and Account Managers. They enable MSPs to engage clients, differentiate from competition and help standardize their operation. Humanize IT has been a partner with Managed Services Platform since 2017, providing coaching, consultation, templates, reports and community in order to implement vCIO and Account Management best practices on the platform.
This is an exciting announcement that will allow all around better and more efficient use for you! Check back at our blog for more information about this merger in the coming weeks or for further questions email us.
How Salespeople Close IT Projects Faster?
We’re all too well aware of the enormous amount of work that goes into the preparation phase of every client IT project. From the idea stage (we need to replace the server architecture) to actually being able to send a proper quote ($18,500 with labour cost) the MSP spends dozens of hours coming up with the IT project plan and the numbers. The hours are tracked as “sales” hours spending time on those quotes but at the end of the day most of those projects never take off. Everybody is bummed, the client calls off the opportunity, the team writes off the time to a “lost opportunity” category and life goes on. However there is a totally legitimate, battle-tested sales tactic that a few MSPs use to cut this unproductive and morale-draining busy work. Let's get into the details.
WATCH our free RECORDED webinar and we'll explore how to prepare
client meetings even more efficiently
What is the real problem?
Once you do the work and prepare the IT project quote, then three things can happen:
- Client loses interest during the process, the pain is not there anymore and the issue is pushed to “next quarter”
- Client realizes they have higher priorities seeing the $18,500 quote and saying “we did not budget it in”
- Client starts negotiating but eventually goes ahead
The real problem is that the client receives all the critical information needed for the decision only AFTER you’ve poured dozens of hours into the project scope and planning process, and when the pain and problems are likely not that pressing anymore. That leads to lost opportunities AND time.
The information came too late in the process and was probably much more precise than needed for actually making the decision.
How to fix this?
Salespeople use a process to overcome this problem. Their goals are:
- Strike while the iron is hot - “move things along while they’re in focus“
- Qualify the client’s budget against the solution - “are they ready to pay?”
- Make a “reversible” decision - “do not be pushy”
- Get a “letter of intent” from the client - “evidence of the priority”
They are not pushing people or being salesy. They want to deliver all the information to the client as soon as possible for decision making AND to get proper feedback, to enable them to invest in the opportunity.
They want to move the decision making way up in the process in order to qualify good opportunities and avoid those with less chance of success.
The two best practices they are using are the price testing and the pre-approval in order to move the decision event PRIOR to the excessive work of planning and quoting.
Step 1. - Price Test
The first thing to qualify a client for a certain project is a price test. This is a verbal agreement from the client that within certain conditions they are good to go. At this point it’s pretty hard to guess the right price for us (lack of proper scope) or to commit to any price. So they are qualified for the opportunity with a price test to make sure it’s worth the time.
They use a price range ($16,000 - $20,000) rather than a hard number ($18,500). This reflects the assessment of the magnitude of the work. It does not really make a difference if it is $16,000 or $20,000 to make the preliminary decision. But the client isn’t left guessing between $5,000 or $100,000 and has a reliable budget range.
Second, the salespeople cannot commit anything to the client yet. Instead of saying: “This would be about $16,000 - $20,000 to deploy the solution. Can you afford that?”, they’ll say “last time we solved this problem for a similar size organization it was about $16,000 - $20,000; is this in a range worth solving the problem?”.
You see the difference?
Managed Services Platform Tips
- The IT project roadmap is a perfect place to play with numbers in the budget sheet
- Predefined project templates help to vaguely scope the projects without extensive work
- As these projects are likely going to be custom feel free to add the templates to the roadmap and start editing with them
Step 2. - Pre Approval
Talking is useful but writing is a different level of commitment. Most clients do not realize how much work goes into the project preparation phase, and innocently send you to craft a proposal like they’re fishing. If they realized that this is a bigger commitment on your part, they might take this more seriously.
When companies are making their bigger deals involving a lot of work from both parties they sign a paper called “Letter of Intent”. This agreement is not legally binding but strong enough to demonstrate interest from both parties to invest more time and money.
In your case this is something like a “Pre Approval”. The pre approval requires only a number from the price test and a defined results and outcomes to solve the problem.
If the project scope is templated then you are able to get approval right away. If not you can write a quick brief and send for pre-approval.
Managed Services Platform Tips
- The proposal process is ideal for asking for pre-approval
- You can link your “Terms and Conditions” to the proposal to offset legal obligations
- You can use the note section to state that this is only a “letter of intent” and not legally binding
Conclusion
This is how you protect your time and resources and work only on IT project plans and quotes if both parties have agreed on the boundaries. Most managed services providers are operating in a high trust environment with clients. If the client is aware of the “additional work” needed to actually prepare a proper quote, understands the goal of a project and knows the potential investment, they can easily pre-approve multiple projects. That puts the tech team in a better position to invest more time in higher probability opportunities and not hustle opportunities with no potential for success.
The Complete MSP QBR Process
At Managed Services Platform our goal has always been to make your MSP business more productive to face the ever growing expectations of client engagement activities.
In this article we've collected all the best practices you can utilize to connect the dots on how to prepare, deliver and follow up client meetings. Use this article as a reference guide and sources of many articles, blog posts and feature highlights that can help you make both you and clients more productive.
We've added new sections based on the the new software features and integrations of Managed Services Platform 2021 February Release.
How Can You Make your QBRs Even More Productive?
WATCH Our February Feature Release RECORDED Webinar
Overview
When you conduct your QBR you want to make sure that you can run the sessions very efficiently.
In the first section we share the best practices in order to set you up for success. This phase is a one-off activity that you review once a year. We identified the best practices you can leverage to plan your QBR and set up the tools for productivity.
In the second section we share best practices regarding effectively preparing the meetings, running the sessions and following up internally and with clients to tie up all loose ends. This phase will help you execute QBRs faster with less resources.
Use the links to leverage the different resources, share them with your team and apply one at a time!
Phase I. Preparation
Start the process that will make you ready to do more QBRs in less time with better results.
1. Plan for Success
Let's start with a small plan. You do not have to invest a lot of time on this part upfront, but clearing a couple things will help down the road.
1.1 Define your QBR Value Proposition
It might be obviously valuable to you to run QBRs with clients, but they might be unsure why these meetings are happening or why they (and more importantly who) should attend.
The result is a clear understanding why clients should care and who is going to communicate to whom during the QBRs.
1.2 Define your QBR playbook
You have limited time to prepare, run and follow up on client QBRs. The best practice is to calculate the time you can spend on your client segments then create an annual calendar for easy scheduling.
The result is a clear picture of the capacity needed and the annual schedule of the QBR activities.
2. Setup for Productivity
2.1 Select Templates
After you have both the main agenda for the sessions and the time budget it's time to choose a template. We have three templates you can start with that involve your time, client maturity and agenda items.
The result is a meeting template including the agenda items and widgets for each topic discussed throughout the QBR.
2.2 Setup Touch points
Consistency is key. After you have the client rhythm in mind you can start either designing custom client annual playbooks (Delegate and Team Plans) with the Client Engagement Score (CES™) module or just setup your clients with Annual/Quarterly/Monthly touchpoints.
- Setup a detailed client segment playbook (Delegate and Team Plans only)
- Setup Touch Points with PSA integration (All Plans) 🔥NEW FEATURE🔥
The result is a structure in a system that will keep track, remind and help busy individuals to stay on top of client QBRs and not let clients falls through the cracks.
By the end of the Preparation Phase, you should have a decent QBR process with a very high Return on your Investment (ROI). It makes the process ready to be Productive (less resources) and to create an Exceptional Client Experience (more results).
Phase II: Execution
During the execution you are going to prepare for individual meetings, run those meetings, then follow up with clients and internally.
1. Prepare for the end in mind
Based on our research Account Managers spend the most time during the preparation step, but the majority of the prepared content will never be reviewed by the client. That is why we are going to focus on preparing properly and efficiently for meetings.
1.1 Gather the right information
You need to gather two types of information.
The first type needs to be automated as they directly impact financial decisions (projects and assets). You can import those items into the system directly.
The second type requires interpretation (so automation is not efficient nor possible). These are other sources of data - general background information for the decisions required on projects. You can add these evidences to the system as links, screenshots or iFrame based images.
The result is a focused preparation time based on data that should be synced and automated, and information needed to support decisions.
1.2 Prepare the Report
You will prepare the report by reviewing all your data from various systems, the current state of their roadmap and your goals with the client. You set the agenda and plan the discussion points to make decisions.
The result is a report, process and evidences that help your clients to make the decisions you would like them to make.
2. Meet for Results
Everything you have been building so far is designed to create an engaging meeting your clients see value in. Conducting interactive workshop type sessions will help you to get the interactive environment needed to engage executives.
2.1 Run the QBR Meeting
The secret to running and facilitating successful meetings is interactivity. Have conversations with involvement rather than going through presentations.
- 5 steps to run effective client meetings remotely
- 5 Questions that will make your client meetings more strategic
The result is a quick and engaging meeting with clear alignment and easier decisions.
2.2 Create a clear Action Plan
By the end of the meeting you will have a list of decisions, clear next steps and deliverables to work with. You can organize those so both clients and the internal team can understand.
- Create a Client Roadmap
- Create a Proposal 🔥NEW FEATURE🔥
The result is a Client Roadmap representing the major projects with clients and a proposal with which they can approve projects as the need arises.
3. Follow up for execution
When you are finished with the QBR you need to make sure that the cycle is closed and the next cycle has opened. You communicate to the clients the next steps, expectations and their part of the deliverables and you set things in motion on your end generating tickets and projects for the team.
3.1. Close loops with clients
Strike while the iron is hot. First thing is to document the QBR process and send a snapshot to the client with the proposals. This gives them a very quick response after the session and they can distribute the information and work among their team.
The result is a documented session informing the client so everyone is on the same page. Executives approve projects, technical contact personnel do the work and financial people pay the invoices.
3.2. Close loops internally
While things are fresh in your mind you can start generating tickets, opportunities or projects and distribute those to the team for further clarification or execution.
The result is a well-oiled machine working on the deliverables, saving time and enhancing client experience.
By the end of the Execution Phase, you have gone through a fairly simple but repeatable process of a client meeting. You set goals and the agenda, delivered an engaging client meeting and followed up with all parties. This will lead to consistent closed projects, client engagement and measurable return on your account management investments.
How Can You Make your QBRs Even More Productive?
WATCH Our February Feature Release RECORDED Webinar
How to Schedule QBRs for Engagement
Most MSPs have a hard time not only engaging executives in QBRs but even being able to sit down with clients, as they don’t see the value they add to their business. The goal of scheduling a QBR is more about selling them the process, benefits and the results so they see the value and look forward to these events.
We are going to discover the minimum requirements of scheduling an engaging session with the right people in the client’s organization. As a result you are going to get more executive level decision makers in your meetings with higher anticipation.
UPSELL YOUR CLIENTS WITH STRATEGIC QUARTERLY BUSINESS REVIEWS AND IT STRATEGY MEETINGS
Define the Value and Benefits for the client
Without defining the value and benefit of the upcoming QBR people will be less likely to engage. You want to make sure you aim for the highest possible level in the organization, even just for the main contact person.
Consider these ideas from the client’s perspective to craft your message accordingly. We have found these messages effective if crafted properly:
- The ultimate goal of the QBR - “IT is an integral part of the corporate operations. Our goal is to make it as efficient as possible and support the company goals effectively. To deliver continuous value to your organization we need direction, priorities and to understand your goals to serve you better.”
- Benefits for the client - “During the session we are going to discuss IT Infrastructure, IT Cybersecurity, Office Productivity and Technology Strategy related questions. That makes the board aware of the opportunities to improve their business and achieve their goals.
During the session we can review certain performance indicators, make decisions and answer questions. Then we generate action items we can distribute among the teams.” - Pain relievers for the client - “We made sure that this process is very efficient so we do not waste anybody’s time. We discuss business topics, priorities and directions with executives in plain english, to help us engage your team for the execution part.
That means you invest 2 hours every quarter and you do not have to worry about the technology any further. We get the approval to go to the right direction in helping your business to excel.” - Cliffhanger - so they do not want to miss out - “During our session we are going to walk you through a specific best practice with Office 365 that’s saved thousands of dollars in productivity for other clients. We are going to let you know the top 3 cybersecurity tricks that hackers are using recently.”
If you have your own templates such as above for your style, then you can always customize these letters with the client and add more specifics.
Productivity Tips with Managed Services Platform:
- Create a template of this email and add it to their report as a content widget so that you always have the last message on file
- Track the client’s roles in your QBR template so you always know who is responsible for what on the client side to deliver the messages accordingly
Client Experience Tips with Managed Services Platform:
- Record a short video on your phone, embed that to your content widget and send for a personal touch alongside the letter.
- Create a snapshot and copy the content to your email and share the report with them so they can see the previous Quarter’s topic, results etc.
Issues, Risks:
- Your QBRs should deliver the value you highlight here, and as you mature the value is going to increase
Do not over-promise, if the experience doesn’t deliver you might lose the executives for a while
2. Schedule the meeting professionally
Although the best way is to create an annual predefined calendar with each client, the individual meetings have to be always scheduled.
This part is very critical as the client always can make an attempt to skip the session - “everything is great we do not need a session now” - or worse, defer the session to a lower level employee without real decision making power - “let Jannie do this for me, I’m busy with other things”. Therefore reiterating the value and having the value proposition on hand is very helpful.
Using a calendar invitation tool is always great as it helps the client to pick the time from your calendar. However, it requires their diligent action to schedule the session so you might give up the control of the process.
A good tactic is to actually send them a direct invite 2-3 weeks in advance AND ask them to choose a different time if it does not work. Now there is a meeting in their calendar and they have to take action to cancel it or reschedule, but you avoid an open loop.
Productivity Tips with Managed Services Platform:
- Set the client touchpoints (Annual, Quarterly, Monthly or no Touch) for a client so that you will always keep track of who needs a meeting for a given month
- Block Days in your week for QBRs, like every Tuesday AM / Wednesday / Thursday PM so you can stack multiple sessions
- If you have the Client Engagement Score (CES™) module you can generate the specific activities based on playbooks upfront
Client Experience Tips with Managed Services Platform:
- Embed your Calendar Tool to a content widget so they can choose a time easily
Issues, Risks:
- It’s best to have a certain date pre-scheduled with every client in your calendar.
- Getting into an open loop can be easy, so be diligent in getting something on the calendar
Conclusion
Your goal is not just to get to their calendar to make sure we have the session with client executives. We want them to want you to be there with anticipation, being engaged and looking forward to the session with you.
To accomplish that you should craft the value proposition of the session and schedule the meeting professionally.
The State of the vCIO in 2020
Every year Managed Services Platform publishes a report about the state of the vCIO. We summarize the experiences of the largest vCIO community in the world. We’re not just interested in the major trends in the technology space, but how those impacted the vCIO role and responsibilities.
STRUCTURE, MANAGE AND AUTOMATE YOUR ACCOUNT MANAGEMENT AND VCIO PROCESESS
Name and focus
The use of a vCIO or Virtual CIO job title is not as common as we would think. The title has been overused for glorified account management for many low maturity MSPs in the past. Therefore the progressive “real vCIOs” wanted to differentiate themselves. This effort led to many different names of the job such as (Technical) Account Manager, IT Consultant, IT Advisor, and even more recently, the title of Digital Transformation Advisor.
Not only the name seemed to be shift from the ‘technology” narrative, but the role itself expanded with more business functions. Planning, budgeting and architecture have been in the job description for a while, however recently we see more organizational, execution, project portfolio management, application management and business intelligence components are coming to the surface.
As COVID-19 has pushed Digital Transformation initiatives, the IT manager role had to adopt to focus on more business outcomes rather than focusing only the technology deliverables.
Responsibilities
In order to avoid misunderstandings, we have summarized client engagement responsibilities in the following quadrants. Because the title doesn’t hold great significance, we are classifying members according to their business-strategic responsibilities. As such, a vCIO’s communication strategy and long term directions should be with client executives through regular Strategy Business Overviews, Technical Landscapes and Strategy Scoreboards.
Another important characteristic of a vCIO job should be as a full-time dedicated professional, who can supply a regular strategic-business communication channel with clients. Without regular communication this strategic focus can be lost, along with the real business goals, which are to increase a tactical line for advancements in technology.
Challenges for small MSPs
Many times the efforts of small MSPs with less than 15-20 employees are in vain because the owner(s), who attend this job, are often neither able to delegate the vCIO role nor do they have enough time to fulfill that role themselves. In our experience, large companies with more than 25-30 employees are able to build a team of several full-time, dedicated professional vCIOs, which can be a human guarantee for the earlier mentioned regular strategic-business communication.
Consequently, the lack of success generates a continuous migration of vCIOs, especially between MSPs with less than 20-25 employees who cannot assign enough resources for building professional vCIO services through proper hiring, continual training and process development methods.
Skills of the job
Commenting on a human guarantee for delivering successful vCIO success services, it is important to note that however the majority of vCIOs (79%) have more than 10 years experience in the managed IT services market, they typically have been in their current positions for less than 5 years. These numbers show two things:
On one side, a significant part of them came from the technical side, which means that they previously held an engineering or support operation position. That’s why they usually designate Information Technology and Engineering as a primary function, Business Development and Sales as a secondary function, followed by Operations and Project Management, and finally, Consultation functions.
However, as a practical matter, these priorities should be in reverse. These numbers reveal why a lot of vCIOs cannot prevail as a business-trusted advisor, as they should be. Such vCIOs can be viewed as simple technical account managers, who are absent of adequate business skills/abilities and who continue their old technical lines of communication in IT infrastructure, network system backups, DRPs, and support ticket reviews.
Learn more about the 12 mistakes vCIOs make
Interesting findings
It’s strange that although we are a software development company we emphasize the human and process factors of successful delivery of vCIO services. This is because we realize that these two factors are at least as important as the right utilization of the right tool. Furthermore, there are prerequisites for any tool utilization fulfillment. This understanding ignited the collaboration with Humanize IT and Digital Maturity Group and the development of new tactical assessments that IT needs with MSP clients, such as remote meeting security risks, cybersecurity, public cloud adoption and application integration.
These three factors: human factors, processes factors, tool factors, are a key component of the profitable vCIO services.
Growth of the community
When we asked our clients about their MRR growth, only 30 percent have expressed experiences with an average growth greater than 20 percent over the years when they used our platform and another 24 percent have expressed experiences with an average MRR growth that ranges between 1 to 10 percent. The gap between these two groups shows that the world economy, including managed services, were increasing before the COVID era and MSPs were able to show a solid growth with low effort.
But the world has got everything upside down with COVID and the aforementioned regular strategic-business communication has become overrated. Due to the current trends, businesses are cutting expenditures, and if an MSP cannot verify and project their real business service values, they will surely lose a significant edge by not being able to adapt to the changing trends.
See previous reports:
- Managed Services Platform vCIO Report 2019
- Reporting vCIOs in the United States of America - 2015
- Reporting vCIOs in Canada - 2015
- Reporting vCIOs in Australia - 2015
- Reporting vCIOs in New Zealand - 2015
If you currently do not have vCIO services, but still intend to implement them in the future, we will be able to support your efforts with an exclusive coaching package and our client meeting report tool as well.
Client Engagement in 2021 New Features
At Managed Services Platform our vision has always been to turn technically heavy client meetings into engaging value added business conversations.
2020 has brought new challenges for Account Managers and vCIOs. Client meetings became remote, the duration of sessions shrank, the topics in QBRs steadily increased and clients got very apprehensive about investing in general.
We would like to go through the upcoming new features to make sure you can solve those challenge.
#1 - Communicate cyber security with executives
Despite all the trends favouring cyber security related services, the gap is still growing between the real value of cyber security services and their perceived business value. The cyber security assessments are technical, executives do not see the value of investing in cyber security and often expect it to be covered by the service providers already.
One of the major features is focusing on cyber security communication. We have not just created a new solution set for NIST Cyber Security Communication but the Essential 8 for Australia and Cyber Essentials (EU) is on the way. The report’s proposal section with the proposal feature supports a complete communication tool to make sure executives get to the point of making decisions and you can demonstrate the value over time.
These new functions not only enable a better conversation about cyber security but makes you more productive too.
#2 - COMMUNICATING HW/SW ASSET UPGRADES TO EXECUTIVES WITHOUT BEING SALESY
Hardware lifecycle management is critical. Careful though - explaining the investments needed as a result of out-of-warranty issues can feel salesy and lack the business sense of hardware replacements.
The new asset management features allow you to import both hardware and software assets from your various systems. You can associate the assets with project templates. This way you can use the project templates to explain the business cases for the hardware upgrades in an easier way. For example, amend the communication from a “servers out of warranty” technology narrative to a “server modernization” business narrative.
These new functions not only enable a better conversation about hardware asset and lifecycle management but make you more productive too.
#3 - GET PROJECTS APPROVED AFTER QBRS WITHOUT A LENGTHY QUOTE PROCESS
The more time passes between the client meeting and proposal/quote the less likely the project will be authorized. The quicker you can let them sign a proposal the greater the likelihood of winning projects will be.
The new proposal features allow you to generate a proposal in seconds based on your projects in the report. You can list the projects for which you need authorization, send a tokenized link and let the client sign off. These proposals can be considered as letters of intent and also means you can block the budget for projects quickly. This lets you get the ball rolling as soon as possible.
The new functions not only help to close more project and service revenues but saves time for both you and your clients.
#4 - SPENDING TOO MUCH TIME SETTING PRIORITIES TO MAKE SURE ALL CLIENT MEETINGS ARE DONE ON TIME?
Most of your clients need more touchpoints with you remotely. The more client meetings you need to handle the more likely clients will slip between the cracks.
The new Client Touchpoint features help you to seal those cracks. It allows you to set reminders for clients based on their annual, quarterly or even monthly touchpoint segments. We remind your team about the clients who need to be contacted in the given period and we list the clients who are at risk. We also let you send all client touchpoints to your Connectwise/Autotask as tickets.
These new functions not only deliver peace of mind but also increase the execution of client meetings.
#5 - STREAMLINE THE COMPLETE CLIENT MEETING PROCESS ACROSS PSAS
To streamline your client meetings you need to get information from your PSA before the session and usually have to pass info back for the team to execute. Now both PSAs have the complete workflow.
Before your meeting you can sync the projects, opportunities and assets from clients so that you can prepare for the meetings in minutes. Then after your session you are able to pass back tickets, projects, opportunities to your team closing the loop. We add more functions to Connectwise and revamp the complete Autotask integration.
These functions are not only speeding up the process but provide a complete repeatable process for client meetings.
We release the functions starting in December 2020 till early February 2021. Keep an eye on the blog for the upcoming functions.
How to bridge the gap between cyber security technologies and business value
The borders of the network have disappeared, and people have moved out of the office with minimal focus on securing their remote environment. Ransomware events are increasing in both frequency and amounts demanded. Compliance and certification is getting more focus as governments move to support cyber security initiatives. The news is full of talk about security concerns.
Despite all the trends favouring cyber security related services, the gap is still growing between the real value of cyber security Services and their perceived business value.
In this article we go after why MSPs still seem to be struggling to articulate the business value of higher cyber security standards, creating proper business development plans and capturing the market opportunity. That leads to all kinds of problems for clients, including not being protected. Bad executive decisions mean MSPs cannot monetize cyber security services and end up hurting their bottom lines.
We are going to go through the 4 main challenges creating the gap between the technology service providers and the clients. The interesting thing is that all the four major challenges are related to miscommunication.
Just a step back before we jump in on the communication issues and the potential fixes.
We all know that cyber security issues have increased because technology affects personal lives and businesses deeper and wider.
Most of the cyber security related issues are invisible to users and business owners.
Most of these issues can not be solved by implementing another technology, but need to change user and executive behaviour.
That means solving the problem is not really a technology problem but a leadership one. Solving the issues won’t come by just implementing more solutions. They need to actually take leadership and guide the clients through this transformation.
Most service providers, though they’ve shown years of excellence providing best of class services, have no experience in stepping forward to lead people through behaviour changes.
Therefore the root of the problem to solve cyber security problems is NOT applying a technology solution but applying business leadership. The gap is getting wider between cyber security services and perceived business value as the service providers are applying more tech instead of more leadership.
Let’s see how MSPs are making this happen.
COMMUNICATION ISSUE 1 - TECHNOLOGY CONTEXT
MSPs often see and communicate the issues from the technology perspective.
- firewall needs replacement
- MFA should be adopted
- stronger passwords need to be implemented
These are all technology related solutions and so they create a technology context for the conversation. Many of these are acute issues so the MSPs try everything to convince these executives to implement those solutions.
The problem is that clients get turned off, maybe seeing MSPs as pitching products and services taking advantage of their lack of knowledge. Of course this is the opposite of the original intent.
How to fix: Apply Business Context
If the communication generates a business context then MSPs can apply the solutions in the client’s frame of reference rather than their own. MSPs should ask questions to lead executives toward better decisions.
- How comfortable are you with your current ability to respond to a detected cyber incident?
- What does that mean to your reputation, client’s perception or the organization’s day if a ransomware attack could lock up your systems?
- What do you think your role as a business owner is in providing a secure and low risk environment to your employees, clients and stakeholders?
The result is a business conversation where the MSP can understand the executive’s thinking process and give their input about a potential false assumption or offer more help in understanding the potential impact of issues. The goal is not to convince them that cyber security is important but to furnish them with the perceptual framework so they understand the risks and their role.
Communication Issue 2 - Technology Assessments
The market has been flooded with different kinds of cyber security assessments. The better ones follow a framework such as NIST CSF (US) / Essential Eight (AU) / Cyber Essentials (UK). These assessment software solutions help MSPs to streamline and automate a conversation about cyber security, risk assessments and remediation plans.
Although we believe this is the way to go, the major issue of these attempts is that it is driven by technology people in a technology context. These assessments check the security posture against various threats and try to convince executives to fix those with various technology tricks.
How to fix: Business Assessments
These assessments should be backed by cyber security frameworks such as NIST CSF (US) however the recommendations should be easy to understand business action plans for executives. These reports should be delivered by account managers and not technology people purposefully. If the results and recommendations are delivered from a business perspective there is always an option to go in depth with technology people. However the conversation stays on a business level in general.
The benefit is that the Account Managers are forced to look for the business use cases and can filter out the unnecessary tech talk from these assessments. Obviously the preparation of these assessments comes from the technology side but the presentation, and the leadership will be on the business level.
That gives relief to the executives of speaking the same language and forces the account managers to effectively communicate the business value instead of listing technology recommendations.
Communication Issue 3 - Technology Solutions
Most cyber security assessments list an overwhelming amount of technology recommendations - systems to implement, hardware to purchase, upgrades, policy and compliance activities and other things an average client will not comprehend. This leads to confusion and confused people make default decisions. The default decision is obviously to do nothing. This is very easy to do as most of these technology recommendations yield benefits that are not tangible.
How to fix: Business Action Plan
Instead of listing recommendations such as: “Implement Multi Factor Authentication Solution” which is a “solution” to a business benefit narrative to “Prevent unauthorized access even with a password breach”. Or Instead of “Security Awareness Training” which is a solution to a benefit “Building a Cyber Vigilant Employee Culture”.
Now you are able to list those benefits as projects, and you can list the activities behind the projects such as implementing technologies, but the narrative is business friendly. That communication encourages better decisions and demonstrates the benefits of the initiatives instead of leaving clients confused by a plethora of technology solutions.
Communication Issue 4 - Development Projects
Many MSPs are longing for a “big bang” revolutionary cyber security project to be purchased by the client. The assessment remediation projects can be done from the technology perspective in weeks or months. They try to sell the project and probably try to move the client from a low maturity to a super high maturity level quickly. Yes, when companies had to face lockdowns they reacted and adopted change quickly. However if external forces are not that powerful the adoption of change is very slow.
How to fix: Development Process
Seeing cyber security as a “never-ending development process” instead of a “one-off project” gives many advantages. The MSP does not have to force all changes quickly, they can distribute the projects over months and prioritize the low hanging fruit. It also allows the MSP to bring up cyber security-related initiatives to sign off quarterly. That makes it a standard agenda based on the bigger roadmap. So account managers do not have to convince executives all the time, but help them take one step at a time to establish a less risky business over time.
As you can see, these 4 communication challenges and potential fixes are nothing but a change in your perspective.
- think about the client’s point of view
- have a business conversation instead of technology presentation
- enforce a benefit narrative rather than a solution narrative
- think about a slow burn culture change instead of a quick revolution
That turns you into a true advisor, sought after business partner and a communication expert. It will enable you to secure all your clients, reduce your business risk and make your business more profitable.
If you cannot break those old habits then the gap will widen between your technology services and the perceived business value your clients see. That leads to endless arguments with your clients about why they need to invest more in technology and a stagnating and less profitable business.
Business Relationships cannot be automated...
There are many tools and best practices out there to streamline, and automate technology conversations with RMM integration, ticket reports and asset management functions. The reason is that as most MSPs by starting their QBR processes they simply try to run faster to the wrong direction. The common mistake we see is they try to streamline a technology focused tactical conversation (important for them) rather than elevate themselves with strategic-business focused QBRs (important for clients). Let’s see the 3 reasons why it is the case, 3 impacts taxing these MSPs and the 3 steps to fix this quickly.
Do you engage the proper people from your client’s organization?
DowNload our Strategic QBR Client Mapping Tool
If you are one of the fast developing MSPs this is totally normal to have tech conversations with clients first then move up to the executive level for business conversations. Staying on the “tech” level though raises many issues on the long run that leads to less profitability, lack of differentiation and competitive price pressure. Let’s check how to fix it with better QBRs.
3 Reasons
Wrong Process
Most of the Quarterly Business Reviews has not been developed from a strategic standpoint proactively. They started after losing a client or based on a negative client feedback. The team realized some sort of “regular meetings” needs to be taken place. That means the process usually ad-hoc, rushed and developed “by implementing a tool”. The main success criteriums of any account management process are missing and very immature. Implementing a tool gives a hope of structure.
As the MSP mature the development process shifts from ad-hoc to proactive.
Wrong Focus
As the QBR process starts shaping the most obvious conversation points are determined by the issues the team faced. Warranties were not discussed with a client, the client developed a technology debt or simply the client did not see the value and activities from the client. Therefore the to satisfy the audience reports are generated to so
lve those technology related issues with technology focused conversations.
As the MSP mature the focus is shifting from technology focus to business focus
Wrong Audience
Most MSPs are starting these conversations with the point of contacts to resolve the technology related issues. These point of contacts are usually office managers, power users or financial people. Their main focus is mainly tactical, not strategic. They are looking for solving day-to-day issues like replacing a computer of an employee. This is good for a start however elevating the conversation from tactical to business the audience needs to be different.
As the MSP mature the focus is shifting from tactical to strategic approach.
3 Negative Impacts that Taxing you
Stuck in a “tech box”
One major impact of not developing QBRs is to stuck in the “tech box”. That means simply that the client sees the MSP is a very good technical vendor rather than a business partner. Technical vendors are less strategic to a client therefore easier to negotiate or replace them in a long run. Becoming a high-value business partner is not a soft “feeling”, it does not mean that 5 star reviews and recommendations are putting an MSP to this spot. This means that the executives of the clients are constantly engaging the MSP with strategic business questions and consultation.
As the MSP mature it is perceived from client executives as high-value business partners
Perceived Salesy
The main issue we are seeing when we help an MSP to further develop their QBR is they feel the process is salesy. Showing the clients budget reports, bombs, warranty issues, subscriptions are teaching the client quickly is a QBR means spend more money. That connotation makes the MSP hard to actually solve those tech issues as they have no business context around those. Yes the MSP is a victim of the circumstances as without the client investing on technology they cannot really provide value. The MSP should generate a strategic layer on top of the QBRs to avoid the constant “sales” conversations.
As the MSP mature the QBRs are more touchpoints of the strategy execution
Perceived less engaging
After the first few QBRs the topics are settled and all around technology metrics and customer satisfaction and so on. Even if a client executive were involved on the QBRs they learn quickly that this is now on track and the second in command can handle these “boring” meetings. As the executives are detached from the opportunity to elevate the conversation has already gone. As the executives are not present most of the QBR stuck in the technology-tactical conversation which forces the MSP to “make it more streamlined”. This is where they implement more and more automation to actually get further from their goal is to actually engage executives.
As the MSP mature the QBRs have topics for engaging multiple audiences in the same time
3 Steps to fix
Identify the client roles
Use the MSPL’s 4 quadrant formula to determine the different roles to separate tactical / strategic and technology / business conversations. As you identify the CEO / Business vCIO roles you can map those roles to each clients and find who should be engaged with business conversations. You need to be able to sit down with the MOST senior executive at least once a year to get her perspective of their goals and to demonstrate your strategic value to them. Identifying those target individuals are the first step.
As the MSP mature the QBRs are engaging more senior people on the organizations
Map your talking points to roles
Use the QBR Kit #1 to identify all the talking points the different roles you have. Keep going with your tactical/technical conversations with the office managers and power users but make sure you create a new narrative with the executives. Use Kit #2 which has all the power questions you need to engage an executive and generate a strategic agenda outside of a QBR. This can be called a Strategy Meeting or Digital Transformation Annual Review. Anything related to a higher business level conversation. Create a scoring/audit mechanism to measure the different tactical elements of their business such as Security / Infrastructure / Office 365 / Applications and so on separately. These are separate audits you conduct in order to present all of this at once as a “Master Score” so they cannot see the details only the very high level.
As the MSP mature the high level strategic conversations are getting measurable
Run multiple layers
As you have a number / score for their strategy / digital transformation you are able to claim a spot for an Annual Strategy meeting in their agenda. As the context is their business and technology you have all the talking points making technology decisions in a business context. This high level conversation / report and deliverable is the single most important leverage you have to make all QBRs effective, decisions made and engage both the executives and the critical contact persons.
As the MSP mature the QBRs are becoming the execution of the Annual Strategies
Conclusion
Starting a QBR process is always ad-hoc tactical and technology focused. However you have a choice how to go to the next level. Once choice is to automate a wrong discussion and create a process which generates less engagement, price pressure and lack of differentiation. OR you develop a business conversation which elevates your discussion, connects to the key decision makers and helps you stand out from the crowd.
