The Value of Long-Term Clients
An MSP business may get ten clients that last for a minimum contract period of a year or so. One client that sticks around for 20 years provides more than twice that revenue. In fact, if they become successful, they’ll likely increase what they spend with you, compounding their profitability over time. Long-term clients are where it’s at in terms of sustainably profitable operations.
Keeping Clients Around Over the Long-Term
Certainly, you’ve got to give clients good customer service, but what does that mean? The “bigger picture.” You need to have a projected “arc” for clients and structure management for maximum velocity along that arc. These tactics can help:
- Reward and incentivize clients
- Truly hear clients; respond quickly
- Provide continuous personalization; celebrate special dates
- Make sure to always remind clients with relevant social proof
Reward and Incentivize Clients
Your MSP business ought to give coupons, discounts, free service, or free hardware to long-term clientele. Find a way of recognizing and rewarding them for being with you for so long. Determine a trajectory of rewards. Maybe at one year they get X, at two they get Y, and at four they get XY and Z. Different MSPs have different ideas on the best way to go about this— find those that best suit you.
Truly Hear Clients; Respond Quickly
Listen to your clients. When they say anything to you, this should be immediately considered and appropriately responded to. This is true with good and bad reviews. It’s true with casual or critical conversation. Your relationship with your customers is truly that: a “relationship”— that means “give and take” on both sides.
Provide Continuous Personalization; Celebrate Special Dates
If you’re working with a client for a decade, their very operation will shift to something totally different by the end of that time. Your services will transition along this route of development. You’ll be personalizing as you go by necessity. You might as well do so strategically.
Also, as time goes by, celebrate special dates with clients— like the day they converted to your services, or the day their company was founded. Learn through personalization which dates are best to celebrate.
Make Sure to Always Remind Clients with Relevant Social Proof
Where you can organically fit in social proof like a good review, or positive PR, do so. Don’t be obsequious, but don’t be shy, either. Putting such review links on the bottom of an email after the primary message can be a good tactic; a consultation with SEO groups who do MSP work primarily can help you find your balance.
Keeping Clients Around Over the Long Term
An MSP business that reminds clientele of its effectiveness through social proof, personalizes continuously, remembers special dates, rewards long-term clients, listens when they speak, and responds quickly will have a better shot at keeping clientele around over the long-term. Plot a customer retention trajectory along these lines and you should have more long-term customers.