2021 ITGlue MSP Benchmark Survey
Another year another survey.
ITGlue, Datto to name but a few. All perform their yearly survey on the MSP market to identify the biggest pain points, trends, changes and other helpful information to help guide the future of both their products and the MSP industry as a whole.
Whilst we often read, talk and engage with people based on these surveys, we are all aware that this has been one incredibly bizarre and “different” year. So it proves even more fruitful this time, to disclose our top parts of the latest report that may play some part in guiding the coming year ahead.
Growing MSPs
An incredible 37% of MSPs are growing at the current time, plus another 29% that are the top performing and growing. With other field aside, this left just a 12% classed as underperforming (based on declining revenue and margin). To think of the economic shifts we have had, to see the vast majority of MSPs growing during such uncertainty pays tribute to the fantastic work MSPs do around the world. As the legend Rob Rae would say, this is proof of the importance the MSP plays in any SMB business.
Now, ITGlue we all know is a household name in the Documentation space. What truly baffled me reading into this report, was the fact that over 90% of the top performers, all sat on ITGlue! I demand a recount to check, but truthfully I believe it. What an incredible stat for a vendor and for proof of the benefits it brings.
Live Chat/Chat Bots - do they work?
Almost every week, we get a prospect asking about if we use Live Chat or chatbots. Simple answer, no.
For us the core of our delivered is through email and phone calls, delivering the SLA experience and prioritisation through other mediums is something that is still maturing. Up until now, we have had this belief and though but with no evidence to back it up.
So let’s try this one: 1% of all total tickets for MSPs surveyed, were logged by a Chat bot / live chat.
With 71% still email logged and 19% via Phone.
Now if that doesn’t tell us email isn’t dead, I am not sure what will!
Live chat/chat bots, will be a popular thing, but right now they are not your priority. So let’s park this one.
71% of MSPs not looking to change PSA
In an industry that is rapidly adding vendors, competition continues to heat up. So often MSPs reach out to us at the thought of changing PSA or tool. But in reality, this isn’t always best.
As a tech it is often easy to hop from product to product, over the years you will find things you like in each and things you dislike in each equally. But you will likely be not much further along. No product suits everyone perfectly, each has a qwerk or floor that we could likely agree on. The truth is, when it comes to PSA, MSPs still need to pick the best available to them and then stick with it for as long as they can. The maturity comes over time, with effort.
As a golf fan, I often find myself changing from club to club, in hope that one will be the holy grail and will solve all my issues. What I failed to address over the years is the fundamental changes I need to make to allow these clubs to perform best, changing my approach and mindset.
Whilst a silly comparison, you get the point. My golf game is suffering. So are MSPs that hop from product to product, not to mention the time they must lose to migrating each time.
Lack of good techs
As of 2021, hiring good techs has become joint top problem for MSPs around the world.
This one is easy, partner with Uptime Solutions.
Done? Ok let’s move on.
I am baffled
Let’s end on what I think is possibly the scariest of findings from this survey.
47% of MSPs, do not track KPIs.
This specific stat shows where the maturity in the industry needs to pick up slightly. A KPI is relevant in any business, whether it’s selling ice cream or supplying food worldwide. There is always KPIs that are relevant to you. That said, even if you are a 1 man shop, KPIs can add a lot to your day to day functions as a business. KPIs are your bible as to business and peoples performance and sets a bar as to where they need to reach if falling below, helping in not just business management but people management too
What does this stat in particular tell me?
Well with an increase in leadership and business coaches, I think an impending boom in business strategy is coming. With so many MSPs reaching financial numbers that many would think not possible without KPIs, we are quickly going to become aware of the need to tighten up, in order to achieve the next level.