MSP marketing should focus on client retention over continually acquiring new clients. Certainly, you want to continuously expand your client base, but one long-term client can serve you better than 10 short-term clients. If you’ve got one company that stays with you a decade, they’re going to expand as you expand, and so they’ll likely continue to pay you more over time. Ten short-term clients will pay the bare minimum than disappear. Your goal should always be calibrated toward long-term clients.
Once you get a customer, you want to do your utmost to keep them. There are a number of different strategies to facilitate this. You might give coupons for long-term usage of your services or recognition— these are good tactics. A few others to consider include:
Facilitating Clear Value Clientele Cannot Ignore
MSP marketing should focus on advertising solutions to pain points which are common to core clientele, as well as the share of the market you have yet to convert. Use existing numbers to help convince new clientele, and be sure your existing clients save money or increase productivity through your services. The idea is to bring them a tangible value which positively impacts their bottom line. This makes them want to keep you around in the long-term.
Building Holographic Relationships with Multiple Parties Representing Clients
Don’t only build a rapport with one person within a given company. Build real, lasting relationships with as many as you can. A change in management among clients can be survived if clientele personnel appreciate your friendly, always-available service. Find ways of fostering realistic, expansive, lasting relationships with multiple contacts among the companies you serve.
Crunching the Numbers and Strategically Cutting Your Losses When Appropriate
Sometimes the cost of business is higher than the profit your business recoups when it comes to certain clients. Maybe they make you redo jobs incessantly. Maybe they make mistakes that cause you to lose focus on other, better clients for their sake. Whatever the case, you need to know when it’s time to cut your losses with a given client. Continuing to service them short-changes other, better clients in addition to losing money.
Natural Client Retention
MSP marketing which cuts out clients costing more than they bring in will free up time to focus on better clients. When you’ve got “holographic” relationships with clientele, then when issues arise, you have multiple points of contact with whom to make your case, making it possible to retain clients longer. Lastly, if you truly provide client value, then they’ll have to lose money to let you go. This means they’re more likely to stick with you through thick and thin. Successfully employ tactics like these and you’ll keep top-tier clients around longer.