First things first, in order to grow existing clients, your MSP should be in a position to handle ‘more’. The business and team should be poised to absorb additional service consumption and be confident that delivery of these services will continue to run at the same standard your clients have grown to love. Growing client spend is one of the fastest and most cost-efficient routes to scaling your MSP, get it right and watch the revenue trajectory rise but, get it wrong and risk losing loyal clients.
Because getting it right is so important when it comes to expanding your clients spend and their reliance on you, we’ve pulled together the top three aspects of an MSP that are non-negotiable when considering driving business growth through existing clients.
Client Experience
Sitting at number one is your existing level of Client Experience and Satisfaction, this should be exemplary before you consider taking on more. To ensure you maintain the very best levels of customers service throughout your expansion, you should consider implementing the following:
Continuous Feedback Loop
Ensure there is a quick and easy way for your clients to provide feedback to your team. This is not only important for understanding the satisfaction of your clients but also the overall value they hold in your services. In addition, continuous feedback loops provide opportunities for improvement, innovation and growth and are so integral to some company's success that they even incentivise clients to provide this feedback.
Make Client Centricity Team Wide
Holding the client as number one priority should span your whole team, not just those in client facing roles. Implementing processes, SOPs and guidelines will help keep clients at the forefront of everyone’s mind whilst holding educational initiatives showing the entire business why their role is so important in the experience of the customer will also go a long way.
Nurture Your Relationships
Most MSPs would like to be trusted as strategic advisors by their clients and it is the ones that nail this that are the most successful. Work with your team to train and drive them to become an extension of your client's business, to get under the skin of their operations and become familiar with the landscape they’re working within.
Do what you say you are going to do
Be cautious not to over commit and under deliver in a bid to keep clients happy in the short term, this almost always backfires. Only committing to what you know is possible and when you have to push requests out or simply admit it is not possible to explain the reasons why. Nine times out of ten a client will be happy with your reasoning and trust will actually increase. When accepting work be sure to set expectations right from the start and, if you commit to something, make sure you deliver it.
Value Enhancing Additions
It’s all very well trying to ‘sell people more’ but selling is so much easier if the buyer actually needs and wants what you are trying to sell. That’s why ‘value add’ is so important when it comes to upselling and cross selling your solutions as an MSP, if you are truly adding value, your client will want to purchase more. And this is where you can really start to see some notable gains in your average client spend.
Firstly, you’ll need to ensure that any value-add services are current and applicable to your client’s evolving needs, this means continuous re-evaluation of what you’re offering. Leaving additional options to stagnate not only means they become less desirable, but it also gives your competitors the chance to overtake you.
Second you will need to ensure any benefits in the value you are selling are tangible. Give clients ways in which they can assess the benefit to their company and measure this over time. Examples could include reduction in downtime, time waste and associated costs, detected security threats and potential impact to name but a few.
Lastly, be sure to sell the value in what you’re offering. Utilise existing customers, use success stories, case studies, and testimonials that demonstrate the impact of your services on improving client operations, reducing risk, and driving revenue growth.
Exceptional Customer Experience and Support
Finally, you cannot expect to successfully grow revenue through existing clients if you are not dedicated to providing the very best customer experience. Every touch point should be considered, and efficient resolution, proactive support and exemplary communication should be at the top of your list.
Sometimes, investment is necessary in order to deliver the experience your clients want and need. Don’t be afraid to investigate new options for technology or resource in supporting your customer base, this will pay dividends in the future.
Finally, everything you do to improve the experience you offer to your clients is important and something you should share with your base. You can also use this in new client meetings as a unique selling point and competitive differentiator.
Remember, customer experience is the #1 contributor to client loyalty.
By focusing on proactive consultation, value-added services, and exceptional customer experience, your MSP will successfully grow client spend and become a trusted, indispensable partner.