By Ray Meiring, Qorus Docs
Our working world continues to shift and adapt as the COVID-19 pandemic evolves. Along with that revolution, remote or hybrid models are becoming more prevalent as long-term or permanent solutions. At the same time, there is increased demand for support and services that make those approaches possible. Providers that are helping companies stand up new systems that power their workforce, like managed service providers (MSPs), are likely going to see a significant boost in business over the coming months and years.
In fact, a recent report noted that MSPs are expecting to grow by an average of 17% within the next three years. Yet despite this optimistic outlook, many MSPs might not be positioning themselves to meet these expectations. Another survey revealed that 50% of MSP contracts are worth less than $15,000 per year. If the value of these contracts stays the same, that means MSPs will need to submit new bids on a more frequent basis to achieve their growth goals. Further, considering that more than half of businesses had no proposal software or a low-tech proposal solution and that 70% of businesses are seeking to respond to proposals more quickly, it is worth considering how technology can make the process more efficient.
For MSPs that are aiming for growth, it becomes even more critical for their proposal response process to operate seamlessly and efficiently so they can keep up with a higher volume of statements of work (SOWs) without burning up too many resources. With this in mind, there are a few important factors that MSPs should consider as they look to ramp up their efforts.
Driving A More Efficient Proposal Process
As MSPs begin planning their growth, they’ll want to consider the benefits of automation tools and how those tools can help them reach their growth goals. Mission-critical sales technology has become the bedrock that companies rely on for managing their proposals and statements of work.
This technology automates an often tedious and lengthy process, which helps MSPs execute statement of work development more efficiently and removes some of the common pain points. For example, instead of having to track down the latest documents and snippets of text from different places, proposal management tools enable MSPs to conduct pointed searches or shortcuts to frequently used content—making it easier to surface the information they need.
By simplifying the way service providers create and submit statements of work, employees can stay focused on billable work. Harnessing the power of management tools enables teams to go after more opportunities and inevitably win more business while using time efficiently.
Create Visually Compelling Proposals
One of the most important aspects of crafting a winning proposal is the ability to stand out from the crowd. And, knowing that most MSPs are aiming to bring on new customers in the years ahead, there’s likely to be stiffer competition for new work.
Presenting a strong, well-designed digital document is a critical element of winning new work. Not only can an emphasis on the visual elements of the statement of work help it to be more appealing, but the right visuals also can assist MSPs with communicating their message to their audience. Using compelling visuals ensures that no matter how familiar the reader is with the concepts, they’re likely to get a better grasp of them.
At the same time, an MSP’s new business team may not include a designer—or a budget to hire one. Again, proposal management software can eliminate the guesswork design and layout so employees can focus on getting the content right.
Build Better Proposals Through Analytics
A common challenge with submitting proposals via a more traditional method is that MSPs can’t secure any insights from the proposal unless the potential client is willing to share explicit feedback. This feedback is incredibly valuable but can be hard to come by, especially if the MSP doesn’t move forward in the process. They have no way of evaluating which elements of the proposal were successful and which need improvements.
Proposal management tools can be helpful in this regard as well. Users can track when their proposal is opened, so they know whether the document had been viewed. Many tools also make it possible to see what parts of the proposal were most important to the reader—a critical insight that can help MSPs adapt their strategy accordingly.
MSPs that are positioning themselves for growth should consider the benefits of proposal management software. By investing in this kind of tool, the response process can become more efficient and scalable—allowing MSPs to win more work without hindering their team’s productivity.
About The Author
As CEO and cofounder of Qorus Docs Software, Ray Meiring leads an award-winning team of passionate problem solvers to create the absolute best customer experience possible. Under Ray’s leadership, Qorus Docs has established partnerships with Highspot, Microsoft, and many others and supported more than 140 customers in creating 16,000 proposals and counting. With more than 20 years of industry experience, Ray is a frequent speaker, author, and webinar host on a wide variety of topics including leadership, market strategy, automation and the application of AI, and proposal automation for professional sales and bid teams. Follow him on LinkedIn.