📖
The MSP KB
  • 🏡Home
  • MSP Foundations
    • Introduction to Managed Service Providers (MSPs)
      • What are MSPs?
      • Who Needs MSPs?
      • MSPs vs. In-House IT
    • Operational Maturity Levels (OMLs) in MSPs
      • What are OMLs?
      • Size vs. Maturity Level
      • Boosting Growth: Best Practices & Tools
      • Beyond OMLs: Holistic Success Factors for MSPs
    • MSP Business Models & Revenue Generation
      • Common Business Models
      • Revenue Streams
  • MSP Operations
    • MSP Tools: Functions & Use
      • RMMs & PSAs
      • Categories of tools
      • Choosing the right tools
    • Common Industry Challenges & Solutions
      • Industry Evolution & Requirements
      • Challenges Faced by MSPs
      • Strategies for Addressing Challenges
    • MSP Departments and Business Units
      • MSP Service Desk Styles and Operational Maturity Levels
      • Professional Services Department: Technical Expertise and Collaboration with the Service Desk
      • Sales, Account Management, and Marketing: Driving MSP Growth and Client Satisfaction
      • Industry Roles & Responsibilities
    • MSP Compliance & Regulations
      • Importance of Compliance for MSPs
      • Common Regulations Affecting MSPs
      • Compliance Challenges & Strategies for MSPs
      • Risk Management and Incident Response
      • Working with Clients on Compliance
  • MSP Relationships
    • Managing Strategic Relationships
      • A Guide to Co-selling and MDF Strategies
      • Requesting MDFs from Vendors: Best Practices
      • Exploring Vendor-Specific Programs for MSPs
      • Best Practices for Vendor Channel programs
    • Peer Groups and Accountability Groups
      • Peer Groups for MSPs Benefits and Potential Risks
      • Accountability Groups: Fostering Growth and Success for MSPs
  • 🧰Resources
    • Communities
      • Online Communities
      • Peer Groups
      • Social Media communities
    • Business Resources
      • Podcasts & Webinars
      • Blogs & Books
    • Technical Resources
      • Podcasts & Webinars
      • Blogs & Books
      • MSP Toolkit
        • Screen Capture
          • Greenshot
          • PSR
          • ShareX
        • USB Stick Essentials
          • User Profile Wizard
          • PortableApps
Powered by GitBook

The MSP KB is an open source resource by Ashley Cooper and Kelvin Tegelaar

On this page

Was this helpful?

Edit on GitHub
Export as PDF
  1. MSP Relationships

Managing Strategic Relationships

While many vendor relationships in the MSP industry are transactional, focused primarily on upselling, strategic partnerships can be highly beneficial for both parties. In a strategic partnership, MSPs and vendors work closely together, aligning their goals and resources to create mutual value. Here are some thoughts to consider and address when forming and managing strategic vendor relationships:

Selecting the Right Strategic Partners

As an MSP, you can only manage a limited number of strategic partners effectively. Therefore, it's essential to carefully evaluate potential partners to ensure they align with your business goals and can deliver significant value to your clients.

  • Assess the vendor's products and services to determine if they meet your clients' needs and complement your existing offerings.

  • Evaluate the vendor's reputation, expertise, and commitment to innovation, as well as their ability to provide ongoing support and resources.

  • Determine if the vendor shares your values and vision, and if they're willing to invest in a long-term partnership.

Leveraging Co-selling Opportunities and MDFs

Strategic partners can offer valuable opportunities for co-selling and access to Market Development Funds (MDFs). These resources can help you expand your market reach and grow your business.

  • Collaborate with your vendor partners on joint marketing efforts, such as co-branded content, webinars, and events, to reach a broader audience and showcase your combined value proposition.

  • Leverage MDFs to support marketing initiatives and campaigns that promote your partnership and drive sales of the vendor's products or services.

  • Engage in co-selling activities, working together with your vendor partners to identify leads, create tailored solutions, and close deals.

Establishing Clear Contracts and Expectations

When entering into a strategic partnership, it's crucial to read and understand the contract thoroughly and establish clear expectations for both parties.

  • Review the contract terms, including pricing, support, and SLAs, to ensure they align with your business requirements and goals.

  • Clearly define each party's roles and responsibilities in the partnership, including communication, collaboration, and performance expectations.

  • Establish a framework for measuring the success of the partnership, such as KPIs and milestones, and schedule regular check-ins to review progress and address any issues or concerns.

Managing and Nurturing Vendor Relationships

To fully realize the potential of strategic vendor partnerships, MSPs must actively manage and nurture these relationships.

  • Communicate regularly with your vendor partners, sharing updates on your business, market insights, and feedback on their products and services.

  • Engage in ongoing training and development opportunities provided by your vendors, ensuring your team stays up-to-date on the latest technologies, best practices, and certifications.

  • Recognize and celebrate the successes and milestones achieved through your partnership, reinforcing your commitment to mutual growth and collaboration.

By carefully selecting the right strategic partners, leveraging co-selling opportunities and MDFs, establishing clear contracts and expectations, and actively managing and nurturing vendor relationships, MSPs can build strong, mutually beneficial partnerships that drive business growth and create lasting value.

PreviousWorking with Clients on ComplianceNextA Guide to Co-selling and MDF Strategies

Last updated 2 years ago

Was this helpful?