It stinks to work so hard and not be bringing more home at the end of the day, especially for home service businesses. In this episode, marketing expert, Tyler Williams shares not one but two uncommon profit leaks that he frequently uncovers when working with plumbers and other home service providers – unsold estimates and overspending on lead generation. By finding and fixing these hidden profit leaks, home service business owners can maximize profits and unlock major untapped revenue.
Tune in to discover practical strategies you can start using to plug these profit leaks in your own business and start putting more money in your pocket.
What you’ll learn:
- How to convert unsold estimates in your home service business.
- Why you should build brand awareness and relationships to maximize profits
- How to create a marketing plan that keeps your budget within your business goals
- The importance of giving an amazing customer experience across all touchpoints
- Strategies for customizing your marketing messaging for your target audience
- Why measuring and tracking your marketing efforts is crucial
- Tips for using tools like CRMs and call tracking to optimize your marketing spend
Key Moments:
[05:06] – Identifying Unsold Estimates to Maximize Profits
[07:04] – Overspending on Lead Generation
[09:39] – Importance of Tracking and Measuring Marketing Efforts
[11:50] – Optimizing Facebook Ad Campaigns
[32:54] – Balancing Lead Generation and Brand Awareness
[35:28] – Importance of Customer Experience
[53:49] – Adapting Marketing Strategies to Market Conditions
Identifying Unsold Estimates to Maximize Profits
The first product leak Tyler launches into is unsold estimates. Unsold estimates could be leaving half a million in revenue on the table annually for home service businesses. By tracking unsold estimates in a CRM system and using a consistent follow-up process, you can close more of those potential jobs. This may involve automated email and text message sequences, as well as offering incentives. Following up on unsold estimates is a low-cost way to boost sales without additional marketing spend.
Overspending on Lead Generation
Many home service businesses make the mistake of over-investing in lead generation tactics like Google Ads and Yelp, without really measuring the return on investment (ROI). This almost always leads to high customer acquisition costs and unsustainable growth. The key is to balance lead generation with broader brand awareness efforts. Ideally you want to reach potential customers before they are actively searching. Building these relationships allows a business to capture leads at a lower cost as soon as they are ready to buy.
Importance of Tracking and Measuring Marketing Efforts
Tyler emphasizes that effective marketing requires a data-driven approach. Businesses must track key metrics like call volume, lead sources, and conversion rates to understand what is working and what is not. This allows youi to make informed decisions about where to allocate your marketing budget. Without that tracking, you risk wasting money on tactics that do not serve you.
Optimizing Facebook Ad Campaigns
Facebook ads can be a powerful tool for home service businesses, but they require careful optimization. Factors like audience targeting, ad creative, and ad frequency can have a real impact on any campaign’s performance. You should experiment with different approaches, analyze the results, and make data based improvements over time. Well structured Facebook ad campaigns can be a cost-effective way to reach new potential customers.
Balancing Lead Generation and Brand Awareness
Tyler was clear that while lead generation is important, businesses should not ignore broader brand awareness efforts. When you are consistent with content marketing, local sponsorships, and community engagement, your business can build long-term relationships. You are positioning yourselves as the trusted provider in your market. This can give you more qualified leads, higher conversion rates, and reduced customer acquisition costs over time.
Importance of Customer Experience
The customer experience is a critical, yet often overlooked, component of a home service business’s marketing strategy. From the initial phone call to the technician’s appearance and professionalism, every touchpoint shapes the customer’s perception of your company. Businesses that prioritize the customer experience, through training, process improvements, and attention to detail, are more likely to earn positive reviews, referrals, and repeat business.
Adapting Marketing Strategies to Market Conditions
The home services industry is subject to fluctuations in demand and competition. To stay successful businesses must be agile, constantly monitoring market conditions and adjusting their marketing strategies where needed. This may involve shifting budget spend, testing new tactics, or refining your messaging to better connect with current customer needs. Stay attuned to the market, so you can optimize yout marketing efforts and maintain a competitive edge.
About Tyler: Tyler Williams has spent nearly all part of his adult life in marketing. Here’s the main timeline.
2004 – Ripped windshields out of cars for a living.
2004 – Started as a Video Producer at Doney Advertising
2005 – Went out on his own as a freelancer and started working on digital marketing initiatives.
2008 – Was brought into Neumuth Advertising to work on video and website components.
2012 – Worked up to Creative Director and became part of the core administration team.
2015 – Bought Neumuth Advertising and immediately rebranded to Mammoth Marketing because no one knows how
to pronounce or spell Neumuth.
2015 – Started working with Prospector Plumbing, the brainchild of his brother, Jered Williams.
2019 – Made the decision to steer the ship into one industry – Plumbers.
That is history and rest is the future….
Connect With Tyler:
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