There are many ‘authorities’ in the market on how to market to prospective Managed IT and Cloud clients. Each has their own system and they all share a common theme, which is to market consistently to get results via a variety of mediums. However, many fail to address the easiest and most effective form of marketing…marketing to existing clients!
Many of us have diversified our businesses to offer services in a number of categories. Hardware & Software, Onsite Support, Remote Support, Cloud Services, Offsite Backup, Telephony, Web…the list goes on and on. Pretty safe bet that very few enjoy all of your services and would be an great prospect for more than they have. They either don’t know you offer it or perhaps have another vendor that they are content with. Either way, you should view it as a problem for your core business that they don’t
enjoy all of your services…a problem that could result in a competitor taking away what you have or perhaps just lost margin for your business.
Every firm should have two concurrent marketing initiatives, one for new clients and one to existing clients. Each should involve a market segment that relates to industry or perhaps business need and have a very specific focus. For example, you may have a campaign that promotes electronic offsite backup to current clients that don’t have it while your campaign for new clients could be seeking prospects from members of a particular chamber of commerce. Both concurrent campaigns are designed to increase both revenue and net profit. While everyone in the world understands that a new client is a huge boost to your business, not as many realize that the same revenue to an existing client may actually drive more bottom line profit. How could that be?
The reason is simple. Each customer has overhead expense to manage it. For example, postage to mail invoices and regular meetings to discuss the state of your relationship are expenses that add up. Adding a new service likely has very little increase this overhead and as such could actually be a more profitable move for your business. Of course, that would depend on the margin associated with each service or product and the frequency of the sale but you get the idea. In addition, your client is better cared for as
you can ensure the solutions are integrated and they are protected from crafty salesmen from other firms. Plus, your business has put up yet another wall to keep potential competitors at bay and added products or services to grow your team.. A win-win-win where the client, your team and your bottom line are all positively impacted.
If you don’t enjoy a robust marketing program for new clients and one for existing clients, make that your next project. Your clients, team and bottom line will thank you for it!