How can you continue to strengthen your business relationships with your clients during the recession, so as not to be perceived as expendable during belt-tightening decisions?
Communicating in a straightforward manner will go a long way toward keeping your clients informed and satisfied with the services you provide. As the recession continues to have a firm hold on both small and large businesses, you must remain competitive to retain your clients who may be considering cutting expenses.
Remember the following tips before your next meeting with a new or existing client:
- Clients are looking for an Advisor who listens to their needs. Granted - you may be the expert in the field of technology, but you must know what your client is interested in gaining from your relationship.
- Promote and deliver your Managed Services in an efficient manner that increase client satisfaction, and reflect examples of this in every meeting with your prospects and clients.
- Clients are drawn to businesses that can accurately determine the true costs, prices and margins of their services - insure that when presenting solutions during meetings, you have accurately quoted the investment required, and consider offering flat-fee projects to put prospects and clients at ease.
- Keep the cost and complexity down when delivering service by using the right technology - continue to invest in your own technology and tune your processes to reduce internal costs and increase efficiencies, thereby benefiting your clients.
Simplifying business may be the best way to keep clients happy during a recession, but don't forget the importance of surviving within your industry as well. The following tips will can help your business survive:
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Specialize and Partner- Everyone would like to be a jack of all trades, however in some cases it is better to focus on your own area of expertise. As a general rule specialists rarely have to worry about drumming up business, as their professional reputation sends work their way and they make more money. So what happens when you have a client or case that is beyond your specialty? Consider partnering with another specialist in your industry to address that client's needs. This creates happy clients and business partners.
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Don't undermine the industry and commoditize yourself by playing the pricing game - Managed Services Providers who reduce their pricing signal the client that you are not worth the price they were previously charging. Is this the message you want to send to your client? Do you believe this is the way to build your client base and revenue? Of course not, you want your clients and competitors to know that you are the best and worth every penny of your fees.
- Using the right technology for your clients is important- At no point should you take short cuts in security, IT service delivery processes, or outsource internal tasks to unproven third parties.
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Erick Simpson
MSP University
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