The use of the internet means that everything is changing for an MSP business that tries to advertise and market themselves to customers. It is no longer good to use the tried and trusted methods that were seen to be successful in the last century. Because of the fast-paced and changing environment of the internet, flexibility and quick reactions to any new information are important if a company is to survive.
Competition between businesses has never been more fierce, and it is fantastic if you start a company with a goal in mind that you will be adored by everyone. Unfortunately, if you expect to follow that plan irrespective of any new information you may glean along the way, you may not be as successful as you hoped. After all, Google didn’t originally start out as a search engine company, it changed its path when it found a new and successful business model; that worked out quite well for them. That doesn’t mean you should change everything about the way you work, but a few tweaks here and there to harness new information or attract new customers are going to keep you at the forefront of your industry.
Who Are Your Customers?
You may think that you are perfectly aware of who your customers are and what they want. To some extent, that is probably true. But what if you were to change your MSP business marketing slightly to appeal to a completely different set of potential customers? You may not even need to change your product at all, just market to companies that didn’t know that you could be the solution to their problems. Changing your positioning to find out what potential customers want rather than give them what you think they should want can make a huge difference to your bottom line. All it takes is a little flexibility.
Reacting to Change
The difference in reaction to change of different companies, particularly those maintaining a consistent business model, can be seen most obviously in brick-and-mortar stores. The high street is constantly changing with more and more small stores and branches of larger stores closing their doors for good. This is mostly due in part to the influence of the internet, but the ones that are remaining open have often changed their business models slightly to accommodate the different buying habits of the public. Bookstores are increasingly opening coffee shops on their premises and diversifying into other merchandise instead of selling just books. If you look online for the same effect, Amazon is a perfect example. When it began in 1995, its only products were books, and now it sells just about everything you could ever imagine.
Planning for the future is always a sensible tactic, but being flexible, adaptive from the changing world and people’s buying habits, and changing plans to suit your customers is no bad thing. You should be prepared not to have future plans set in stone, but expect to alter them to take advantage of situations you find yourselves in.
There is a frighteningly large amount of data that can be gleaned online about customers, suppliers, competitors, and buying trends. It means trying to base future plans on data you have analyzed is difficult enough. Add that to more and more data becoming available daily and you could be changing your plans before you know it. However, if you look on that as an advantage, it means that you can react to current changes much faster than your competitors, and keeping ahead of the pack is the first step to being successful.
For your MSP business to survive, it needs to be reactive to changes and prepared to be flexible as far as business models, audience, and data are concerned. If you can manage to change your way of working to meet the needs of your customers, then you are much more likely to thrive and prosper in the cut-throat world of business.