Here at LogicMonitor we have many different types of service providers as customers and many of which have given us great insight into the business and have taught us how they successfully sell monitoring. Below are some specific techniques that service providers can utilize to monetize monitoring through out the entire customer life cycle.
Acquisition
1) Look like an expert on prospects infrastructure before they sign up as a customer.
Using LogicMonitor’s automation and easy-to-deploy architecture, your sales team can install a collector onto the customer site, say at the beginning of a “proof of concept” during your sales team’s process. While your sales team is chatting with the prospect, the LogicMonitor collector automatically discovers the devices on the prospects’ network, collects metrics from those devices, and LogicMonitor begins displaying alerts based on industry best practices. One LogicMonitor MSP customer who did this was able to show his prospect during the sales call that their RAID Array was in a failover state and the prospect’s current MSP had not known or addressed what was an imminent hard drive failure on a critical piece of infrastructure.
Employing this strategy, your salesperson will look like an expert on your prospects’ infrastructure, even if they can’t spell Linux and your prospect will be more inclined to buy from you than from an existing provider who may have let their problems go unaddressed.
Retention:
2) Extend a monitoring view to your customers so that they know you are doing your job.
Even in a perfect world, when you are fully managing a customer’s infrastructure and everything is ‘green’, it can be nice to give customers some access to monitoring displays so that they can see that you are doing your job. In LogicMonitor you can give your customers role based access to their monitoring instances so that they can also have insight into their own infrastructure. How does role based access help you monetize monitoring? It provides your customer visible real time insight into reports or dashboards that show that you are doing your job and it creates a great level of trust so that your customers today will remain customers tomorrow.
Growth:
3) Identify changes to the customer’s network and prove that you can add on managed services to that equipment.
With LogicMonitor’s Netscan, you can scan customers’ networks to detect all infrastructure on that network, including devices that are not under your management. Use the flexibility of LogicMonitor to alert your sales team on customer issues (such as an almost full hard drive) so that your sales team can reach out and warn customers. This opens up a conversation about adding managed services on those devices and could lead to a new sale. Additionally, it also deepens the relationship with the customer so that feel even more reliant on your MSP.
Want to learn about more strategies for monetizing monitoring? Join us for a Webinar where we’ll discuss these 3 in more depth, and include 3 more.