Leverage Reporting Tools To Prove Value, Retain CustomersSource: N-able Technologies Inc.
Repeat customers are key to business success. For managed services providers, this translates to retaining clients at contract-renewal time. However, according to trade industry group CompTIA, three out of 10 MSPs report that as many as 40% of their customers walk away rather than renew. Only 35% of MSPs polled for CompTIA’s “Trends in Managed Services Operations 2012” report say they have reached optimal retention.
MSPs urgently need a strategy for long-term client retention. Key to that strategy is to continually remind customers of the value of managed services, which requires ongoing communication. Without communication, customers quickly forget that MSPs work day in day out to keep their networks healthy, secure, and running without productivity- hindering outages.
The most effective way to communicate value is to leverage reporting tools that automatically collect and store data about MSPs’ daily activities on behalf on clients. When clients understand how much goes into keeping their systems running, they are much less likely to walk away when their contracts are up. They become more inclined to view the MSP as a trusted IT advisor.
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