123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> General >> View Article

How To Improve The Customer Retention Rate Of Your Small Business

By Author: Alex Finch
Total Articles: 13

Based on a recent collaborative study conducted by the US Chamber of Commerce and the US Small Business Administration, the cost of attaining new customers is five to seven times more than retaining the existing ones. Competition is stiffer for small-to-medium businesses (SMBs), and this is the reason why 38 percent of SMB marketers have vouched to focus on improving their customer retention rates this year, as revealed in a report by Teradata, a US-based marketing firm. In developing cities such as Tampa, small businesses are growing more insistent to be at par with their larger competitors. They are even increasingly relying on reputed providers of managed services in Tampa in order to get an expert edge in customer retention rates.

How MSPs can help your small business

Small businesses already run on limited resources. As an addition, managing the customer retention rate increases the pressure on the existing workforce. This is where managed service providers (MSPs) come in handy. With years of experience under their belt, these firms become an external beam of support, taking full responsibility of maintaining and improving an SMB’s rate of customer retention.

Here are three ways by which MSPs in Tampa can take a proactive role in holding their existing clients back:

1. Setting the client expectations

According to a report by Client Heartbeat, an Australia-based software firm, 68 percent of customers end a relationship with a business because of the unsatisfactory service offered to them. Therefore, the first step of MSPs is to determine a standard that is a little less than what the business can actually offer. As a result, it becomes easier for the business to under-promise and over-deliver, thus keeping clients happy and satisfied every time.

2. Creating a communication plan

Customers love to stay with a business that has a strong strategy. Efficient MSPs arrange quarterly business review (QBR) meetings, helping a small business understand its success points and mistakes by looking back at information from the past quarter. With every issue and remedy laid out on the table, the business can communicate more freely with its customers, thus enhancing its stand as a trusted advisor.

3. Ensuring a great on-boarding process

MSPs essentially take your responsibility of coming up with business plans. These firms look after all three key areas of the on-boarding process – the assessment, performance analysis, and cutover and transition plan. They manage the operating models, technology infrastructure and application architecture in order to ensure an easy on-boarding process, and create a strategy that keeps customers engaged for a prolonged period.

Managed services in Tampa do not come in a one-size-fits-all business model. Here, MSPs are considered as some of the best among the Southern States because they realize that every business is unique and therefore, they deliver custom-tailored solutions based on individual requirements. As a result, your small business can easily form a long-term bond with an MSP, and leverage the affordability and scalability it offers while strategizing the best ways to appease your existing customers.

Hand over a bit of your tasks to MSPs, as managed services in Tampa can help you refine your customer retention rate. Help your business to quickly grow into a name to reckon with.



Total Views: 116Word Count: 582See All articles From Author

General Articles

1. Boosting Your Marketing Business In 5 Simple Steps – Education Industry Mailing List
Author: deena jose

2. Cyber Security Trends Of 2018 To Look Out For
Author: Edward Lewis

3. 5 Effective Methods To View Security Cameras Over The Internet
Author: Bradon Wilson

4. Top Coaching Centers For Ias Exams In Bangalore
Author: Our Education

5. The Top Cancer Hospital In Delhi; Action Hospital
Author: ponting brown

6. Learn How To Merge Aol Mailboxes
Author: jeniffer

7. Find Out How To Change Text Fonts For Aol
Author: Edward Lewis

8. How To Re-install Webroot Antivirus On Your Computer?
Author: jeniffer

9. Have Delightful Experiences With Cheap Paris Holidays
Author: Amanda Sutcliffe

10. Dr. Abhishek Kumar Mishra
Author: DR ABHISHEK KUMAR MISHRA

11. Understand The Gravity Of Online Customer Reviews
Author: Hvantage Technologies

12. Pourquoi Les Interrupteurs Intelligents Ne Peuvent Pas être Utilisés Sans Neutre
Author: commanderadio

13. How To Make Mounted Kraft Roll At Home
Author: Adam Frances

14. Ce Mariage Est Incroyablement Magnifique Et Implique Une Mariée Moderne Super élégant
Author: robe

15. Importance Of Good Food And Exercise For Fitness
Author: Ashish balguer

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: