Oftentimes, the MSP marketing team will focus on customer acquisition, which directly translates to increased revenues. However, retaining existing customers is often cheaper than acquiring new ones. Customers will always stick around if you have a great product or service; nonetheless, this is a short-term plan. Eventually, they will feel neglected and leave. You need to focus on keeping your clients happy— they will offer repeat business and recommend you to their friends.
Pay attention to customers who bring you a lot of business and invest your resources in their satisfaction. Observe their habits and be on the lookout for signs that they might leave. For example, if they fail to renew a service or have not purchased from you in six months. Call your customers and find out why they are not buying from your business; it could be they are considering a competitor, yet you have the capacity to provide the services and products they need.
Create custom products and services you can offer to your customers for free or at a discount. Once you bring in a new customer, observe their purchasing and product usage habits to identify the product or service they would appreciate the most.
Special offers can also include previews to new technology, free training, or upgrades to existing packages. Your customers will appreciate the investment you make and are more likely to stick around.
Compiling customer data can help you identify the customers who bring in the most business. Through this, you can create a reward scheme targeted at customers who continually buy your services and products. Instead of creating a generic reward scheme, think of ways you can allow your customers to choose their rewards. Alternatively, think of your rewards strategy; do you want to reward customers based on the amount they spend on your company or on the number of purchases they make in a specific period?
Personalized Customer Support
The MSP marketing department should look beyond bringing in new customers; everyone on your team should understand and practice the principals of personalized customer care. Every new customer is a new relationship for the business and you must work on sustaining it. Use data such as purchase history, purchase frequency, user preferences, complaint, or frequency of calls to customer service to personalize the experience. This will improve engagement, with positive effects on their loyalty to your business.
Create Time for Customers
Most of the communication with your customers will take place online, over the phone or via text message. Regardless, this should not replace in-person communication. Make sure you create time for face-to-face meetings with everyone on your list at least twice a year. Think of different ways you can create value for the customer during these meetings; for example, live demonstration of products, training on new services or offering industry insights that might help them improve their business.
Customer acquisition will only make sense if you put in an effort to retain your current customers. Customer retention can even help your marketing efforts; people who have been with you for a long time will often offer recommendations and serve as brand ambassadors. Your MSP marketing efforts can grow your business significantly if you focus on customer retention.