Increasing Recurring revenue NOW!
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1 Increasing Recurring revenue NOW! Presented by Gary Pica Copyright 2011 TruMethods, LLC
2 On today s Webinar Presented By: Gary Pica President, TruMethods Copyright 2013 TruMethods, LLC
3 Two Audience polls How important is adding new recurring revenue? How successful are your current sales efforts? Copyright 2010 TruMethods, LLC
4 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?? Copyright 2010 TruMethods, LLC
5 Driving Recurring Revenue Sales 1. Have the right support offering 2. Meet the right number of target prospects 3. Have the right conversation
6 Your support offering Focus on the end result People, process, technology and time Limit choices and options Bundle services Remove entrance barriers
7 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 Super Power Process People Resources Best Practices Standardization Documentation Technology consulting Copyright 2010 TruMethods, LLC
8 The Right Support Offering A FormulaWon member sells a client at $3,000 / month when they said no to $1,800 / month Copyright 2010 TruMethods, LLC
9 Driving Recurring Revenue Sales 1. Have the right support offering 2. Meet the right number of target prospects 3. Have the right conversation
10 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 TruMethods, LLC All rights reserved
11 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, New Customers per Month 1.1 New customers needed annually 13.3 Building your playbook (summary) MRR needed in the sales Pipeline $ 8, # of Prospects in the pipeline 4.4 Appointments needed annually 53.3 Appointments per month 4.4 Appointments needed per week 1.1 Copyright 2010 TruMethods, LLC
12 Warm vs. Cold leads Cold leads: May not have established a need Warm leads: Have a need Returning prospects: Highest close ratio Copyright 2013 TruMethods, LLC
13 Prospect management Suspects Prospects Warm 250 Hot! Copyright 2013 TruMethods, LLC
14 Lead Generation Sources (require a quality list) Event marketing Direct marketing marketing Copyright 2013 TruMethods, LLC
15 Warm Lead Generation Sources COI s Referral programs Leveraging LinkedIn SEO/Pay per click Inside sales Copyright 2013 TruMethods, LLC
16 Lead Generation Summary Be realistic about your starting point Focus on warm lead sources Invest in inside sales when possible Build a steady stream of returning prospects TruMethods, LLC All rights reserved
17 Increasing MRR More leads is not the issue! Copyright 2010 TruMethods, LLC
18 Driving Recurring Revenue Sales 1. Have the right support offering 2. Meet the right number of target prospects 3. Have the right conversation
19 The Question that Changed Everything
20 Our IT is fine, why would I spend more?
21 Reframing They always say they are fine They don t know their real IT cost Copyright 2009 TruMethods, LLC
22 Reframing Re-define what fine means Nothing crashes and my vendor calls us back. Reframe IT support costs The bill from the IT vendor Copyright 2010 TruMethods, LLC
23 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 Copyright 2010 TruMethods, LLC
24 Predictably Irrational Copyright 2010 TruMethods, LLC
25 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 Copyright 2010 TruMethods, LLC
26 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 Copyright 2010 TruMethods, LLC
27 Building a Sales Engine Package your support offering for success Know your sales math Have a lead generation plan Develop a sales process
28 Driving Recurring Revenue Sales 1. Have the right support offering 2. Meet the right number of target prospects 3. Have the right conversation
29 Driving Recurring Revenue Sales Check Point: Sales focus evaluation
30 Go! Find a new hammer Change your expectations Start today This is the gold rush!
31 Free Webinar Get the TruMethods webinar: Unleash your MSP Super Power Hand me your business card
32 The FormulaWon Program Why TruMethods? Proven business transformation process Generate more leads Consistently build recurring revenue Dramatically increase profit margins Ready to achieve financial independence! Copyright 2013 TruMethods, LLC All rights reserved.
33 The FormulaWon Program Fueling MSP Growth 8 week onboarding process Live New Comers webinar Detailed training process 4 scheduled one-on-one review calls Weekly homework 8 hours of videos Support resources: Packaging and pricing checklist Sales goal calculator Sales playbooks Step by step sales tactics Lead generation plan Business plan template Copyright 2013 TruMethods, LLC Aligned packaging and pricing with World Class standards Detailed sales plan Lead generation plan Completed business plan Quarterly action plan TruMethods SMART numbers review process (QBR) A plan to increase service delivery efficiency Higher expectation about what s possible
34 The FormulaWon Program Fueling MSP Growth 2 live webinars each month Over 90 hours of additional sales process and business improvement content Ask TruMethods Q&A Quarterly Business Reviews Accountability tools Member to member Forums Weekly motivational audio messages Annual member conference Business planning discipline Sales process Service delivery efficiency Tracking of SMART numbers Support Motivation Accountability Copyright 2013 TruMethods, LLC
35 The FormulaWon Program Fueling MSP Growth Starter Kit is $2,295 NO CHARGE Special Offer: Xchnage Attendees Growth Tracks is $399/month $349/month Copyright 2013 TruMethods, LLC
36 TruMethods Promotion Write promo on the back of your card SPECIAL OFFER: Expires: 8/22/14
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