One of the keys to any successful managed services marketing campaign is to learn how to reach out to new clients while also understanding the importance of gaining repeat business in the IT industry. An MSP that focuses on these marketing tips will gain a competitive edge over other IT companies while also expanding their consumer base. If you are looking for consistent sales growth, here are some of the most effective ways to strike the right balance between focusing on new clients and repeat customers:
Create a Marketing Strategy
The needs of each client are always different, and it is important to take the extra time to create a personalized marketing strategy for each customer. Potential customers need to be aware of your company and understand the many benefits of partnering with an MSP in today’s workplace. On the other hand, you need to show existing clients that you value their business and look for any ways that you can improve upon the relationship and offer additional IT services.
Understand the Costs
The costs of acquiring a new client are much higher compared to retaining an existing client. Typically, the costs range anywhere from five to 10 times more than client retention and the probability of gaining a new client usually falls somewhere between 5% to 20%. However, new clients can account up to 70% of a company’s revenue, and it is important to strike the right balance between seeking new clients and focusing on client retention in the IT industry.
Take Advantage of Metrics
One of the most effective techniques for managed services marketing is to focus on various data metrics that provide you with much-needed information about your clients and potential customers. Analyzing engagement rates, lead-to-opportunity ratios, reach rates, and pipeline value is highly effective in learning how to attract new clients. Similarly, repeat purchase rates, customer retention rates, and customer churn rates are an excellent source of information related to existing clients. Learning how to use this data is highly valuable for any IT company and can help you maximize your consumer base for both new and existing clients.
Understanding the various ways to gain new clients while also focusing on existing customers is essential for any successful managed services marketing campaign. The IT world is highly competitive and taking advantage of these tips can set your company apart from the competition. Creating an effective marketing strategy while understanding the various costs and data metrics can be the difference in keeping long-term clients and attracting new customers for your IT company. Begin utilizing these marketing strategies today and experience the many benefits of growing your IT company and reaching a wide range of clients!