Increasing Recurring Revenue

© 2015 N-able Technologies, Inc. All rights reserved. 1

Increasing Recurring Revenue

SalesStrategies to dramatically

increase recurring revenue


Webinar details

? REC

Length: 60min Questions welcome any time

Recording and slides available

next day


On today’s Webinar

Presented By:

Gary Pica

President, TruMethods

Mike Cullen

VP Worldwide Sales and Business strategy, N-able


Giving service providers the insights we’ve gained from

working with over 5,500 MSPs

www.trumethods.com

5 Qualities of a World Class MSP

#1 Business Planning

#2Packaging and Pricing

#3Sales Focus

#4Be process

driven

#5Command

© TruMethods, LLC. 2013 - All rights reserved

www.trumethods.com

Reality for most MSPs

• Profit margins are not what they expected

• Adding new MRR is hard

• Prices are too low

• Achieving financial independence is harder

Copyright 2010 TruMethods, LLC

www.trumethods.com

Expectations

www.trumethods.com

Audience poll

• How important is adding new recurring revenue?


www.trumethods.com

Audience poll

• How successful are you at adding MRR?

(At least $2,000-$3,000 each month)


www.trumethods.com

Why…

• …can’t you sell new MRR consistently?

• …do prospects say “sounds great” but not buy?

• …why is growing MRR at the price so hard??


www.trumethods.com

Driving Recurring Revenue Sales

1. Have the right support offering

2. Meet the right number of target prospects

3. Have the right conversation

www.trumethods.com

Your support offering

• Focus on the end result

• People, process, technology and time

• Create a true competitive advantage (Super Power)

• Limit choices and options

• Bundle Services

www.trumethods.com

Managed Services PlatformRemote Services Technology

| Product Family

MSP AnywhereRemote access & support

MSP ManagerTicketing & billing

N-centralMonitor. Manage. Automate.

Connect in seconds

Cross platform

Support mobile devices

Session transfer

Session recording

Performance dashboard

Ticket management

Customer portal

Password management

Technician scheduling

Customer billing

Accounting integration

Device monitoring

Health & performance

alerts

Drag & drop automation

Integrated patch, AV,

backup

Integrated remote control

Business reports

$49 USD / monthper concurrent user

$49 USD / monthper concurrent user

Starting at

$499 USD

/monthUnlimited sessions

300 devices

Unlimited tickets

Unlimited billing

Monitor 100 devices free

Free business coaching

www.trumethods.com

SIGN UP FOR A FREE TRIAL

N-ABLE.com

The N-ABLE TECHNOLOGIES and N-CENTRAL marks are the exclusive property of N-able Technologies, Inc. and its affiliates, are registered with the U.S. Patent and Trademark Office andthe Canadian Intellectual Property Office, and may be registered or pending registration in other countries. All other N-able trademarks, service marks, and logos may be common law marks,registered or pending registration in the United States, Canada, or in other countries. All other trademarks mentioned herein are used for identification purposes only and may be or aretrademarks or registered trademarks of their respective companies.

http://signup.mspanywhere.com/signup/?id=QLxMkPQzNR


www.trumethods.com

Build your Super Power

Explain how you deliver this

higher level of support

Everybody

• Patch, spy, spam

• Virus

• Monitoring

• Back-up

• Helpdesk

• Cloud related services

Your unique approach

• Best Practices

• Standardization

• Process

• People

• Business Strategy


www.trumethods.com

Unleash Your Super Power

• Create a role and process for your Super

Power

• Develop standards

• Continuously align clients technology with

standards

• Base vCIO process on misalignments

www.trumethods.com

A FormulaWon member sells a

client at $3,000 / month when they

said no to $1,800 / month

The Right Support Offering


www.trumethods.com





www.trumethods.com


Set Goals

• Start with life and business planning

• Set an annual MRR goal

• Determine the number of FTA’s required

• Close ratio and average MRR are important

• Be sure your goal is achievable

www.trumethods.com

Know Your Sales Math

TruMethods MRR Sales Goal Calculator

Input your goals:

Annual goal for new MRR $24,000

Average Contract Value (MRR) $1,800

Close ratio 25%

Monthly MRR goal $ 2,000.00

New Customers per Month 1.1

New customers needed annually 13.3

Building your playbook (summary)

MRR needed in the sales Pipeline $ 8,000.00

# of Prospects in the pipeline 4.4

Appointments needed annually 53.3

Appointments per month 4.4

Appointments needed per week 1.1


www.trumethods.com


Warm vs. Cold leads

• Cold leads: May not have established a need

• Warm leads: Have a need

• Returning prospects: Highest close ratio

www.trumethods.com


Prospect management

Suspects

Prospects

Warm 250

Hot!

www.trumethods.com


Lead Generation Sources

(require a quality list)

• Event marketing

• Direct marketing

• Email marketing

www.trumethods.com


Warm Lead Generation

Sources

• COI’s

• Referral programs

• Leveraging LinkedIn

• Inbound marketing

www.trumethods.com


Inside sales

• Combines two critical functions

• Lead generation

• Sales database managementSuspects

Prospects

Warm 250

Hot!

www.trumethods.com


Lead Generation Summary

• Be realistic about your starting point

• Build accountability into your process

• Focus on warm lead sources

• Invest in inside sales when possible

• Build a steady stream of returning prospects

www.trumethods.com

Increasing MRR

More leads is not the issue!


www.trumethods.com





www.trumethods.com

The Question that Changed Everything

www.trumethods.com

Our IT is fine, why would I

spend more?

www.trumethods.com


Reframing

• They always say they are fine

• They don’t know their “real IT cost”


www.trumethods.com

Reframing

• Re-define what “fine” means

• Nothing crashes and my vendor calls us back.

• Reframe “IT support costs”

• The bill from the IT vendor


www.trumethods.com

Reframing

Reframing “fine and “costs”

• Expand their definition of “fine”: Predictable performance, functionality, reduced risk, capital costs, productivity.

• Explain the impact of IT on their biggest cost…

PEOPLE


www.trumethods.com

Predictably Irrational


www.trumethods.com

How do you Reframe?

1. Paint a picture

2. Attach a value to your picture

3. Use cost to your advantage

4. Don’t sell technology

5. Leverage you Super Power


www.trumethods.com


Sales Separation

Current process

Their results

Our results

Super Power

Reframing

www.trumethods.com

How do you Reframe?

A FormulaWon member sells a customer

an agreement for $2,200 / month when

the competitor can do the “same thing”

for $1,500 / month


www.trumethods.com

Building a Sales Engine

• Package your support offering for success

• Know your sales math

• Have a lead generation plan

• Develop a sales process

www.trumethods.com





www.trumethods.com

Go!

• Find a new hammer

• Change your expectations

• Start today

• This is the gold rush!

www.trumethods.com

Copyright 2013 TruMethods, LLC All rights reserved.

The FormulaWon Program

• Proven business transformation process

• Develop Sales Separtation

• Consistently build recurring revenue

• Dramatically increase profit margins

• Ready to achieve financial independence!

Why TruMethods?

www.trumethods.com

FormulaWon

Training

• Over 150 hours of role based content

• 2 Live Webinars / mo.

• Weekly Podcasts

Community

• Member Forums

• Ask TruMethods

• Schnizzfest

• Events

Tools

• myITprocess™

• SMART Numbers

• Business Plan Template

• Sales Playbooks


Results:• Complete Business Plan

• Gain Command of your SMART

Numbers

• Align packaging and pricing

with World Class standards

• Develop your Super Power

• Implement Sales Discipline

• Generate Leads

• Raise your expectations about

what’s possible

www.trumethods.com


The FormulaWon ProgramFueling MSP Growth

Growth Tracks is $399/month $329On boarding $1,500 NO CHARGE

Special Offer: Expires 5/27/16

www.trumethods.com

First 10 attendees who email:

[email protected]

Subject line: Sign me up!

$329/month

SPECIAL OFFER: Expires 5/27/16

SIGN UP FOR A FREE TRIAL

N-ABLE.com

The N-ABLE TECHNOLOGIES and N-CENTRAL marks are the exclusive property of N-ableTechnologies, Inc. and its affiliates, are registered with the U.S. Patent and Trademark Officeand the Canadian Intellectual Property Office, and may be registered or pending registrationin other countries. All other N-able trademarks, service marks, and logos may be commonlaw marks, registered or pending registration in the United States, Canada, or in othercountries. All other trademarks mentioned herein are used for identification purposes onlyand may be or are trademarks or registered trademarks of their respective companies.

Questions




The N-ABLE TECHNOLOGIES and N-CENTRAL marks are the exclusive property of N-ableTechnologies, Inc. and its affiliates, are registered with the U.S. Patent and TrademarkOffice and the Canadian Intellectual Property Office, and may be registered or pendingregistration in other countries. All other N-able trademarks, service marks, and logos maybe common law marks, registered or pending registration in the United States, Canada, orin other countries. All other trademarks mentioned herein are used for identificationpurposes only and may be or are trademarks or registered trademarks of their respectivecompanies.