Marketing Centered on Retention
An MSP company would do better to upsell existing customers as much as it’s possible to than to only court new customers. If you’ve got one customer who sticks around a decade, and they’re only paying $10k a year, that’s $100k.
Meanwhile, if you’ve got 10 customers at $5k a year, who only stick around a year, they only bring your business half as much money. But you know that customers don’t retain a single level of service acquisition; they expand as their business does.
Tactics Worth Putting Into Action
So, how do you keep customers around over the long-term, and how do you encourage them to buy more of what you’ve got to offer? Well, consultation in this area of marketing can be helpful. Consultants will likely advise a few best practices many businesses tend to center on, including the following:
Produce Content Regarding How to Complete Certain Operations Themselves
For one thing, if you show existing customers what you do, the work that goes into it, and associated collateral costs, that’s impressive. It shows the true value of your MSP company. And let’s be honest, most of these things are essentially quite straightforward.
Setting up a network is complicated, but the steps are easy to compartmentalize and understand. So maybe you write a how-to and simply use all the technical lingo. This shows those savvy enough how to do the operation and also demonstrates how valuable you are. Many businesses will deign not to work that hard, and simply lean into whatever you’re upselling.
When Customers Do Well With Your Services, Make a Big Deal Out of It
You should be continuously providing clear value to your customers. In terms of profitability and value, you ought to have numbers indicating a “before” and “after” comparison of customers. Send this out with congratulatory sentiments in your outbound email marketing, or wherever consultants indicate is most appropriate for your particular operation.
Create Interactive Content Inviting Customers to Tell You Their Issues
Sometimes, you don’t know exactly what customers are dealing with. Well, ask them. Send out content that works sort of like a survey, with the end game being to impel your customers to contact you, or at minimum tell you collaterally where there’s something they do that you could ultimately use as a leverage point to up-sell them.
Marketing Aimed at Retention is Strategically Valuable
When your MSP company has a retention mindset to marketing, it’s possible to see some clear profit. Such campaigns will leverage interactive content toward customer needs, show how customers do well with what you provide, and create content of the “how-to” variety that simultaneously demonstrates value. Such steps position you for notable sales conversions based on retention.