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Every businessperson worth their salt knows it’s far more expensive to gain a new customer than grow revenue with an existing one, and the ease with which managed service providers (MSPs) can add cloud applications to their stack makes the cross-sell/upsell opportunity even more lucrative.
On Friday, cloud distributor Pax8 launched a new website business-intelligence tool to help capitalize on that trend.
Pax8 Stax helps MSPs see technology gaps in order to identify areas of opportunity with their existing customers. Partners today are clamoring for automated tools that help them scale offerings and increase operational efficiencies, as evidenced by the immense amount of spend devoted to MSP-centric software tools like professional services automation (PSA). Michael Dehmlow, chief technology officer at Pax8, says that’s why Stax is going to be a big hit with partners.
Traditionally, providers have had to labor through manual technology audits for each customer to identify gaps that offer cross-sell and upsell opportunities. It’s a long, boring and resource-intensive process. Pax8 says Stax gives MSPs a real-time visual report and at-a-glance insights into their entire suite of cloud solutions, letting them see market penetration opportunities by customer group and fill in the technology gaps.
“In fact, more than 70 percent of earned revenue comes from upselling and renewals, not initial transactions,” Dehmlow told Channel Partners. “Therefore, selling new services to existing customers could be [partners’] best move when it comes to strengthening bottom-line growth.”
Pax8 says that Stax lets MSPs add multiple vendor solutions across product categories and gives metrics that show what their customers are buying and what cloud products are missing from their offerings. The tool also offers themed, preconfigured Stax specific to different vertical markets for partners that specialize in certain industries.
“Pax8 is hyper-focused on providing the best partner experience,” says Dehmlow. “Part of that commitment involves developing a website that is easy to navigate with consumable messaging and a user-friendly layout. Pax8 is distribution simplified, and the new website directly reflects our core value proposition.”