Customer Retention Strategies for MSPs

CUSTOMER RETENTION
STRATEGIES FOR MSPS
By Ross Beard

blog.clientheartbeat.com

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


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


1. SET CUSTOMER
EXPECTATIONS
Case 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


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


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.


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


3. BUILD TRUST THROUGH
RELATIONSHIPS
Get started today:
1. Start a blog and write one post per week
2. Setup a monthly email communication with your clients


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


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


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.


5. MAKE USE OF
AUTOMATION
Three recommendations for PSA Tools:
• Connectwise (the most popular)
• Tigerpaw
• Autotask


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


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


7. BUILD RELATIONSHIPS
ONLINE
Guide 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 your
customers


8. GO ABOVE AND BEYOND
Going 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


8. GO ABOVE AND BEYOND
How 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


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.


SURVEYS
What 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


SURVEYS
Client 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


9. IMPLEMENT. FEEDBACK SURVEYS
• Client Heartbeat enables testimonial sharing via LinkedIn, Twitter and Facebook

ClientHeartbeat.com/msp

FOR MORE INFORMATION
Get fresh tips and resources on the MSP Heartbeat Blog:

Follow on twitter - @MSPheartbeat


Customer Retention Strategies for MSPs

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