Driving Value Through Growth and Marketing: Lessons from the Front Lines

By Dr. Aaron Mahl, EVP Business Development, iTValuations

When it comes to company valuation, many MSP owners fixate on one thing: the multiple. But at ITValuations, we know that multiple is not the starting point—it’s the output of a complex equation, driven by dozens of factors that shape how a business is perceived and priced.

In our latest session of the Value Driver Series, we explored one of the most overlooked contributors to enterprise value: marketing. I was joined by Robin Robins, Founder and CEO of TMT, and Greg Northrop, our Vice President of Tax and Valuation, for a deep dive into the marketing-driven growth factors that directly shape valuation outcomes.

Marketing Is Not an Afterthought—It’s a Value Driver

Too many MSPs treat marketing as a reactive, tactical effort: build a website, buy some ads, and hope leads show up. Robin calls this “random acts of marketing”—and she’s seen it stall businesses for decades.

A real go-to-market strategy must be rooted in structure, metrics, and customer clarity. Robin introduced her ACE Framework as a model for growth:

• Attract: Generate high-quality leads using targeted, measurable campaigns.
• Convert: Implement a disciplined, CRM-supported sales process that captures and nurtures leads.
• Expand: Maximize the value of existing customers through cross-sell, upsell, and advocacy strategies.

When applied properly, a 10% improvement in each area leads not to 10% overall growth—but over 50%. It’s exponential.

Go-to-Market Strategy: Do You Know Who You’re Chasing?

Greg emphasized how much weight we place on a business’s go-to-market strategy during a valuation. It’s not about whether you’re growing—it’s about how. Do you pursue every opportunity, or are you disciplined in selecting your market? Businesses that demonstrate focus and strategy in customer acquisition stand out to potential buyers.

Robin reminded us that growth should never be aimless. “You don’t want to make a splash in the ocean,” she said. “You want to find puddles you can dominate.” This laser focus—on verticals, ideal customer profiles, and lead sources—establishes market authority and operational efficiency.

Market Prominence: Branding That Drives Multiples

MSPs often conflate branding with logos and slogans. But true brand equity is about positioning: do your target customers know you exist? Do they see you as the authority in your space?

Greg shared how market prominence can meaningfully influence the qualitative side of a valuation—particularly in competitive markets. And Robin noted that while MSPs may not have Nike’s budget, direct response marketing can buildbrand awareness. “Branding becomes a byproduct,” she said, “when you’re consistent with smart, targeted campaigns.”

Growth Potential: Intentionality vs. Accidental Growth

Growth is easy to measure. What’s harder to measure—but crucial—is the potential for future growth.

Greg explained that MSPs who grow by accident (referrals, random hardware deals) might post impressive top-line results, but lack a repeatable engine. Buyers look for systems, not surprises. Growth potential is about building a scalable machine that continues to produce results over time.

Robin added that sustained growth requires the founder to shift from “tech with helpers” to CEO. “To scale, you need to stop being the bottleneck and start building leaders,” she said. “That’s the difference between owning a job and owning a business.”

Existing Customer Growth: Your Hidden Goldmine

The easiest way to increase revenue isn’t chasing new customers—it’s serving your current ones better.

Greg pointed out that top-performing firms don’t just add logos—they expand wallet share. Upselling, cross-selling, and seat growth all show up directly in a valuation’s financial calculations. Firms growing more than 10% annually almost always have healthy existing customer growth.

Robin challenged MSPs to treat customers as assets. “If you’ve spent $27,000 to acquire a client,” she said, “you better be expanding that relationship.” Her advice: act like your competitors are courting your clients—because they are.

The Bottom Line

Valuation isn’t just about numbers. It’s about story—and marketing tells that story before your sales team ever walks in the door.

At ITValuations, we believe that marketing done right isn’t just a growth driver—it’s a value multiplier. For MSPs looking to exit, merge, or scale, strategic marketing isn’t optional. It’s foundational.

Want to See the ACE Framework in Action?

Connect with us to learn more about how our team helps MSPs measure and maximize valuation across 24 company-specific risk factors—including growth and marketing. Whether you’re years away from a transaction or already exploring your options, we’re here to help you drive value every step of the way.