Your MSP business is going to have competitors which must be contended with. If you don’t address them, they’ll undermine you. You want to ensure that you learn from them as it’s possible to. Following are a few steps to reap a silver lining from understanding competitors:
The first thing your MSP business needs to do is determine who competitors to your MSP actually are. Some are local, some are international, sometimes you’re the only game in a small town. Determine what you’re up against before making any concrete plans.
Figure Out Who Competitors Are Aiming For
Once you know your competitors, the next thing you need to do is figure out what kind of clients they’ve calibrated marketing toward. Where do those clients overlap your operation? Do you seek the same demographic? If you do, now you’ve got to find a way to outpace competitors. If you don’t, then you don’t have to worry about them; they may not even be a competitor, just a similarly-situated business.
Examine Content They Produce, As Well As Their Digital Persona
If you’ve got competitors after the same demographics as you, a good idea is to feel out their content and see how they present themselves online. This lets you know where they’re outpacing you and what kind of opportunities you have to transcend what they do.
Figure Out What Their Weaknesses and Strengths Are
When you know who your competitors are, who they’re aiming at, their online presence, and what kind of content they produce, it becomes more realistic for you to map out weaknesses and strengths, then accordingly fill the gaps.
Ensuring Competitors Don’t Undermine You
Your MSP business will very likely have multiple competitors, and the best way to deal with them is to take a hands-on, heads-up approach. Determine competitors, and address them strategically.