It doesn’t take a genius to realize the data center market is changing. Any seasoned colocation provider can tell you the lines between colocation, enterprise hosting, private cloud, and managed services are steadily merging. As a result, colo providers are finding it increasingly difficult to stay on task, identify the right clients and partners, and maintain pricing power.
Join me at Data Center World on Tuesday, April 4th at 2:30 pm for my session on “10 Ways for Colocation Providers to Find the Right Niches and Avoid Commoditization.”
During this educational session (part of the Modern Data Center Strategies track), you’ll learn how to assess your product/market fit, analyze your competitive positioning, attract the right strangers, generate more highly-qualified leads, accelerate more opportunities, and more efficiently scale revenue growth across existing colocation clients. The session will also include strategies on how to get in front of today’s colocation buyer, take stock of your content assets, and let your best client’s data and buyer personas dictate your niches.
Inventory Your Thought Leadership Assets
Does your business use educational thought leadership content to drive its traffic generation, lead generation, opportunity generation, and new client acquisition strategies?
Take inventory of your content assets to ensure your content addresses clients in various stages of their buyer’s journey—the process a prospect goes through when making a buying decision.
Ask yourself the following when developing new content and analyzing previous efforts:
- Are you using blogs, paid search, and multimedia to attract strangers to your website?
- Do you have premium content, landing pages, and calls to action to encourage your visitors to convert to leads?
- Are you nurturing your leads to become sales-ready and opportunities through segmentation, personalization, social selling, and workflow automation?
- Does your business utilize CRM, sales enablement, and real-time notifications to support its opportunities and graduate them to new clients?
Tactics such as website optimization, social publishing, blogging, content management, and paid/sponsored placements are essential to scaling your business and promoting your services.
Understand Whether You’ve Achieved Product/Market Fit
Achieving product/market fit requires taking a good hard look at your product, services, and the industries they serve. Product/market fit describes the degree to which your product satisfies a strong market demand.
Achieving product/market fit comes down to two factors: having a strong understanding of your company’s buyer personas and knowing your metrics.
Buyer personas are semi-fictional representations of ideal clients based on real data and some select, educated speculation about demographics, behavior patterns, motivations, and goals.
Personas help with aligning your sales and marketing strategies, supporting your services and operations, and tactfully delegating resources. Developing content around your buyer personas ensures the material you produce will be of interest to your audiences.
Pay Attention to Your Key Metrics
Key metrics to consider when analyzing your product/market fit are:
- The average client lifetime value (LTV)
- The average cost of client acquisition (COCA)
- The average sales cycle length
Support these metrics by using SMART goals—goals that are specific, measurable, attainable, relevant, and time-bound. Buyer personas also help support your metrics because they give you insight on which price points, quantities, and durations your prospects typically buy, allowing your business to invest in campaigns smartly.
Take Stock of How You Compare to Your Competitors
Analyzing your competition requires researching competitors of all sizes and categories. Review direct competitors, indirect competitors, and non-business model competitors when inventorying your market.
The obvious direct competitors of colocation providers are other colocation providers, whether they be local providers or large regional/emerging (inter)national providers. Analyzing your competition will help you gain perspective on aspects your business should improve and factors that make your services stand out.
The Next Step
To learn more about analyzing your competition, identifying market opportunities, and positioning your colocation company for profitable growth, join me on April 4th at 2:30 pm at Data Center World 2017 for my session on “10 Ways for Colocation Providers to Find the Right Niches and Avoid Commoditization.”
About the Author
Joshua Feinberg helps data center, hosting, cloud, and managed service providers grow their leads, client base, revenue, and profitability. With over two decades in IT marketing and sales enablement, Joshua’s clients differentiate, get found early on in the sales cycle, achieve trusted advisor status, and command premium pricing power to drive sustained, profitable, revenue growth. Learn more by connecting with Joshua Feinberg on LinkedIn.