Monthly recurring revenue (MRR) is the lifeblood of any subscription-based business, and that includes marketing agencies and freelancers. No matter what you do for your clients, SEO, web design, or advertising, MRR is crucial to your business’s success. A reliable revenue pipeline can help you weather hard financial times and make it easier to grow your business.
If you think that that growing MRR comes with growing your internal capabilities, think again. Here are a few ways to increase MRR without growing your internal team. Often, the answers lie in services your business already uses, like your managed WordPress hosting provider.
Grow Your Revenue Pipeline
Your revenue pipeline is the lifeblood of your business. How much money are you bringing in? How much of that goes to overhead, employee salaries, or insurance? If expenses remain constant, growing your MRR can increase overall profit and position your business for success.
But growth isn’t the only way to increase monthly revenue. By outsourcing services you would otherwise be performing yourself, you could easily cut thousands from your costs and grow your revenue pipeline. Hosting is a great place to start.
By hosting your client websites with Pressable, you can take a lot of tasks you would otherwise perform internally off your plate, like server upkeep, hosting support, SFTP, and more. Our expert team will manage all of this for you, keeping your overhead low and your revenue high. This also gives you more time to search for new business, grow your client base, and increase revenue even further.
Increase Value to Your Customer with Our Tools
There are plenty of ways to expand the services you offer (and therefore, MRR) without bringing on new employees to help you grow. Some services you subscribe to right now probably offer tools you can use to increase the value of the services you provide to your customers. Pressable provides plenty of added value features that you can use to do just that.
Jetpack Premium gives you great features that you can pass onto your customers as added value, like SEO management tools, free video hosting, security and performance enhancements, and more.
WP101 is the world’s premier WordPress training service. Use this to help train clients on how to make simple updates on their site, or improve your own WordPress skills and grow the services you offer customers.
You can also add the option to provide reseller hosting. How does running your own reseller hosting business work? It’s simple. You purchase enough space on our servers for the sites you wish to ‘host.’ We continue running the servers while you collect payment. Your hosting is our hosting, so you can tout all the same great features that Pressable offers to your customers.
Develop a Symbiotic Relationship with Your Clients
The best way to increase MRR as a subscription service is to reduce churn. Losing clients can cause a massive reduction in your revenue pipeline. That means you’ll have to spend more time searching for new clients, which means less time keeping current clients happy, which means more churn…you see the pattern here.
Instead, make your business an integral part of your clients’. The more services you offer, and the better you adapt to changing situations, the more likely your clients are to view you as an extension of their business. Offer your clients a monthly website management plan, website backups, or SEO services to increase your company’s value. Your clients will stick with you because they value your business and the services you provide.
Are you interested in learning more about how Pressable can help grow MRR? Talk to an account representative today and learn more about how with our tools and your skills, you can increase revenue and grow your business.