Returning customers are the glue that holds you MSP business together. Finding new clients takes time, money, and effort. The effort in keeping clients coming back is much lower and gives back more in terms of revenue. It does take some work to keep customers coming back to you, but it is effort well spent.
Why Customer Retention Matters
A returning customer is one that is a known entity. You know what to expect from them and they know what to expect from you. This history makes providing services to existing clients easier and more rewarding. For most customers, their profitability to your business increases over time. It also costs a great deal less to work with existing customers than it does to find new clients.
Why Clients Leave
To properly address methods to keep clients, you first need to understand why they might look to jump ship in the first place. The number one reason that a customer leaves an MSP business is they are unhappy with the services provided. Another regularly stated reason to leave a service provider is that they are unhappy with the products provided. Lastly, in some cases, customers just decide to go with a competitor.
You can tackle the retention of clients in several ways. The first step is to see how your clients feel about the services you provide. As this is the primary reason that clients leave, it should be at the front of your mind for client retention. To monitor this, you must set KPI’s that are reflective of your services and you must find out your clients feeling towards your company.
KPI’s are important because they let your employees know what to focus on. It also gives you the backbone to use in your surveys. To define your KPI’s, look through your service contracts. This should provide you the right metrics to focus on to gauge your company’s success.
Surveys are a way to gather information from your clients. This gives you a better insight into how your customers perceive your services. To get the most out of this information, you need to take a look at survey results over time. Trending responses let you see if any of your company’s new procedures have impacted the customer experience.
Be There for Your Clients
One of the most important things you can do to keep clients is to ensure that your face is a face they remember. With all the focus on computers and social media, be sure to use it to build relationships with your clients. This gives them a great outlet to reach out to you and provides a connection that keeps clients coming back.
When they do reach out to you, be sure to make the most of it. By doing a bit extra, you build a strong bond with your clients. When clients are met with this level of services, they are more likely to return to your business for their MSP needs.
With the right mindset and effort, you can create an MSP business that clients regularly come back to.