The Monthly Recurring Revenue Recipe Secret Ingredient

IDC indicates public cloud services sales will near $ 70B in 2015 and the “greater cloud market” - including private, public clouds and enabling IT and services – will hit $ 118 Billion.  Which means that there is lots of opportunity to achieve monthly recurring revenues, but how can you ensure that you get your piece of the pie?

The secret ingredient that is often overlooked when solution providers are evaluating their ability to achieve monthly recurring revenue is successful “execution”.  It sounds simple, but it is not.  There are many ingredients that need to be stirred together in harmony in order to guarantee successful execution.

Whether it is remote monitoring, managed print, security or cloud backup services – the same recipe needs to be implemented in order for you to achieve your goals for monthly recurring revenue.

Monthly Recurring Revenue Recipe for Success

  • 1 annual plan outlining why, what and how
  • 1  go to market strategy
  • 1 service level agreement
  • 1 service description
  • 1 technology partner that provides value beyond the technology
  • 4 to 8 experienced sales professionals/ trusted advisors
  • 1 to 3 experienced marketing professionals
  • 1 motivating and rewarding cloud services sales compensation plan
  • 1 integrated marketing plan
  • 1 customer relationship management system
  • 1 marketing automation software platform
  • 10 demand generation programs
  • 10 brand awareness campaigns
  • 4 pieces of content promoting your service
  • 2 to 3 web pages promoting your service
  • 1 monthly newsletter
  • 15 emails
  • 3 case studies

Combine all ingredients, plan, promote, consult, sell and deliver on your service to achieve your monthly recurring revenue targets with successful execution.  Partnering with a technology vendor who delivers value beyond technology through access to marketing plan templates, content, email examples, and turnkey demand generation campaigns will enable you to get to market faster. While having access to these materials is key, working with a technology partner who understands all of the ingredients required to successfully execute will ensure you to meet the goals for your cloud services faster, cheaper and ultimately enable you to gain success.

If you are offering cloud backup services today or thinking about adding cloud backup services to your portfolio, remember to execute well in order to savour every last dollar of monthly recurring revenue.

Remember, trying to achieve monthly recurring revenue targets with no marketing plan is like baking a cherry pie with no sugar – the outcome is sour and diminishes all of your efforts.