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Can MSP’s Learn a Closing Secret from Glengarry Glen Ross?
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by
David Walter
Content by: David Walter from MSI
In the fast-paced world of Managed Service Providers (MSPs), the ability to follow up on leads can make or break a business. Many MSPs fall into the trap of expecting immediate results from their initial meetings with prospects. They assume that if a prospect doesn’t have an immediate need, there’s no point in continuing the conversation. However, this approach can lead to missed opportunities and lost sales. As Blake, played by Alec Baldwin in Glengarry Glen Ross, famously said, “Always Be Closing.” This mantra underscores the importance of persistence and continuous engagement with prospects.
The Pitfall of Impatience
From my experience running a telemarketing company, I’ve seen firsthand how impatience can cost MSPs valuable clients. Often, after IT consultants stopped pursuing leads after just a few months, I would follow up on those same leads later. To my surprise, some of these prospects had switched IT providers. When I asked if it was the company, I had initially set the appointments for, the response was often, “Oh, that company never followed up.” This highlights a critical issue: many MSPs miss out on sales simply because they don’t follow up.
Persistence Pays Off
Gary Beechum, formerly of MSPU, wisely said, “Keep following up on prospects until they say NO.” It’s essential to remember that ‘no answer’ is not a NO. Prospects’ needs can change over time, and what might start as a casual meeting can evolve into a business relationship if nurtured correctly. Regular follow-ups, without being irritating, can help build this relationship.
Building Relationships Over Time
One of the main reasons many MSP businesses don’t follow up is that they don’t realize how prospects’ needs can change over a few months to a year. Initially, a prospect might meet out of curiosity, but consistent follow-up can position your company as a trusted partner. When they start experiencing issues with their current IT provider, you’ll be the first one they think of.
A Real-Life Example
A few months ago, I had an experience that perfectly illustrates this point. I was working with a CPA firm, right here is San Antonio, that had some issues but wasn’t ready to switch IT providers. The office manager told me to keep following up, which I did by dropping off marketing materials and donuts over the next few months. When I finally called back, the decision-maker had decided they were fed up with their current IT provider and were ready for a proposal. Now, we’re just waiting for the deal to close!
Conclusion
The key takeaway for MSPs is that persistence is crucial. Don’t give up on leads too soon. Understand that prospects’ needs evolve, and by maintaining regular, non-intrusive contact, you can build relationships that eventually lead to sales. Remember, a lack of immediate response doesn’t mean a lack of interest. Keep following up until you get a definitive NO, and even then, consider the possibility that circumstances might change in the future. As Glengarry Glen Ross teaches us, “Always Be Closing” – stay engaged, stay persistent, and the results will follow.
