Do your clients know what an hour of downtime could cost their organization? Outages can impact businesses of all shapes and sizes and however major or minor, ultimately lead to downtime – which can be quite costly and potentially destroy a business’ margins and reputation. Without a proper backup solution in place to safeguard their valuable data, businesses risk closing up shop when a disaster strikes.
Many small-and medium-sized businesses (SMBs) under-value the cost of downtime because they don’t fully appreciate all the potential consequences that come into play. Because they don’t understand the business need for 24x7x365 data protection and business continuity, an unsettling amount of SMBs fail to invest in backup and disaster recovery (BDR) solutions. The reality is that for a small company, the cost of an hour of downtime averages $8,000. As for larger companies, that cost can escalate up to $700,000 per hour! However, our latest chart shows that many businesses are wildly under-estimating this cost. Use this chart in your next proposal meeting with clients and prospects to convince them to fully leverage a BDR solution that will help mitigate the risk of costly downtime!
How can you attach a dollar figure to a downtime scenario that will help your clients understand the value of establishing and paying for a BDR plan? This is especially necessary because according to an ActualTech Media study commissioned by Infrascale, 46 percent of respondents experienced some sort of disruption to a vital part of their business within the last six months. Unplanned downtime can lead to loss of revenue, productivity, essential data and associated recovery costs. By turning to an MSP like you for a reliable BDR solution, clients can avoid these costs, maximize uptime and be well-equipped to resolve any issues that may arise. The fatal mistake many businesses make is not appreciating the value of a BDR solution until they really need it – which is when it’s too late.
To convince them to implement a sensible BDR strategy and buy into your business continuity services, lean heavily on this sales talking point: As a trusted MSP, it’s your role to help clients and prospects identify and prevent the kind of damaging impact a downtime event could have on their business. And what better way to illustrate it than by using a compelling statistic? To help you get started, we’ve already pulled data from ActualTech Media and Infrascale’s 2016 Disaster Recovery as a Service Attitudes & Adoption Report. Use this chart to position your BDR solution as the best way to avoid costly downtime.
See the chart below:
Do you see the discrepancy between the actual and estimated cost of downtime? 31 percent of respondents estimate their hourly cost of downtime to be less than $5,000, when in reality, it can cost $8,000 or higher. This suggests that many SMB decision makers aren’t aware of the potential impact of an outage. This lack of appreciation likely hinders their disaster recovery and business continuity planning. A chart like this makes for a convincing visual in any sales presentation and will help you convince decision makers to adopt your BDR solution!
Continuum Partners: In continuing our commitment to help you accelerate sales through ongoing marketing support, every week we will be uploading customizable PowerPoint templates with relevant charts and data that you can use in your own decks. And because it's white labeled, you'll be able to add your own logo and branding to stand out against the crowd! Just keep checking back on the Partner Support Portal for files to download!
By Steve Lowing
By Meaghan Moraes