Post on 29-Nov-2014
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CUSTOMER RETENTION STRATEGIES FOR MSPS
By Ross Beard
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CUSTOMER RETENTION FOR MSPS• Acquiring customers 5-7 times more expensive than retaining customers
• 68% customers leave because they were unhappy with the service
• 14% were unhappy with product/service
• 9% jumped to a competitor
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1. SET CUSTOMER EXPECTATIONS• Don’t wait to set the expectations, the earlier the better
• By setting expectations early, you are able to eliminate any uncertainty
• It’s important to know that clients tend to remember negative experiences
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1. SET CUSTOMER EXPECTATIONSCase Study: R & G Technologies
• Uses a service based model
• Top 15% of all managed service providers when it comes to speed of response*
• They have implemented strict SLAs which work tightly with their employees KPIs
* Source: Measured by Client Heartbeat
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2. BE THE EXPERT• To build customer loyalty, you need to become their trusted advisor
• By becoming this trusted source on all things technology, you build that relationship which leads to a dependency
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2. BE THE EXPERT• Look for ways to build trust.
• Compliance and Regulations are real buzz words at the moment – great opportunity to demonstrate your expertise and build trust.
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3. BUILD TRUST THROUGH RELATIONSHIPS• You do business with people you trust
• As trust increases, commitment tends to get stronger
• Start building shared values with clients
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3. BUILD TRUST THROUGH RELATIONSHIPSGet started today:
1. Start a blog and write one post per week
2. Setup a monthly email communication with your clients
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4. IMPLEMENT ANTICIPATORY SERVICE• A proactive approach to customer service
• Instead of waiting for problems to occur, eliminate problems before they happen
Example:
• A major airline proactively texts customers to advise them of flight delays
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4. IMPLEMENT ANTICIPATORY SERVICE• In the example, the company is taking a proactive approach to what could end
up being a problem that results in a negative experience.
• No one likes to arrive at the airport and find out their plane has been delayed for 50 minutes
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5. MAKE USE OF AUTOMATION• Allows MSPs to standardize time-consuming tasks requiring manual
intervention into repeatable processes.
• MSPs who leverage automation are able to focus more time keeping clients networks performing at their best.
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5. MAKE USE OF AUTOMATIONThree recommendations for PSA Tools:
• Connectwise (the most popular)
• Tigerpaw
• Autotask
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6. BUILD KPI’S AROUND CUST. SERVICE• Improve customer service and your retention rates will improve
A word from R & G Technologies:
“Customer satisfaction is measured quarterly through Client Heartbeat, and is tied directly to employee KPI’s and compensation. We operate in a model with senior engineers assigned to a group of customers. If they do not achieve 8/10 then they fail to achieve their KPI. This is also tied back into a company goal and bonus structure.”
- Jason Neville, General Manager
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7. BUILD RELATIONSHIPS ONLINE• Your clients are online, so let’s start building relationships with them online
• Social media is changing the playing field because it provides a venue for the one-to-one connections that create unbreakable bonds
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7. BUILD RELATIONSHIPS ONLINEGuide to building relationships online:
Step 1. Setup a LinkedIn group, create a Twitter profile and create a Facebook page
Step 2. Include links to your profiles in all future communications with clients
Step 3. Use these channels to aggressively communicate with yourcustomers
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8. GO ABOVE AND BEYONDGoing the extra mile for your customers is an easy way to build strong relationships
As a service business, you have lots of opportunities to woo your clients
By doing this, you can build some serious long term loyalty
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8. GO ABOVE AND BEYONDHow to go the extra mile:
• Pay attention to what you customer wants and make their issues, your issues – be proactive in addressing them
• Go out your way to point out some potential issues and fix them before they become problems
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9. IMPLEMENT CUST. FEEDBACK SURVEYS• Customer churn can be avoided by simply just listening to your customers.
• Customer feedback surveys are a great way to learn how your service is performing in relation to your clients expectations.
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9. IMPLEMENT CUST. FEEDBACK SURVEYSWhat you need to track:
• Monitor feedback on an individual level
• Trend feedback across a period of time
• Use feedback to provide intelligence and make informed business decisions
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9. IMPLEMENT CUST. FEEDBACK SURVEYSClient Heartbeat is a business intelligence tool that….
• Automates the customer feedback process by sending surveys periodically
• Trends feedback responses over time
• Benchmarks your performance against other MSPs in your region
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9. IMPLEMENT. FEEDBACK SURVEYS
ClientHeartbeat.com/msp
• Client Heartbeat enables testimonial sharing via LinkedIn, Twitter and Facebook
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FOR MORE INFORMATIONGet fresh tips and resources on the MSP Heartbeat Blog:
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Follow on twitter - @MSPheartbeat