How Much Money Do You Leave On The Table?
This has always been a sore spot with me when contractors are always chasing and spending there marketing dollars looking for that next client.
Time and time again I see boat loads of money sitting right in front of them with there existing client base that goes untouched.
Why is this? Lets start out with the easy stuff first. When you go and do an estimate and you don’t get the job or project most of you never call back the client to see if you can earn there business.
Are you crazy? Listen you can’t have the attitude that if they didn’t by the first time around that they won’t buy at all from you.
Big mistake! So you have went through the process of finding the customer, then you spent the time and money and effort to go see the customer and then all the estimating and maybe even some drawings and then you won’t spend the time for any follow up to make the sale?
When you look at your true cost you have already spent between $300-$500 most likely on your marketing.
Step back and look at how many of these jobs you have laying around. In my partner Josh’s case 112. Holy shit that’s a ton of money left on the table. Right?
Well in his case he is now determined to close some of the 112 estimates he’s looking at.
Why not? The marketing dollars have already been spent along with his time and effort. How hard is it to call that customer and ask this simple question? How can I earn your business today?
This way you can find out if the job is still available and find out what it will take to close the deal.
Maybe a small discount? Maybe a small add on for half price? But the main reason is to call and get the sale.
Even in Josh’s case if he can close just 25% more of his 112 leads with an average sale of $1800 then he now has $50,400 in more sales. Plus his closing ratio just shot through the roof.
I hope you found this post useful on marketing and make sure you check out our member site at www.contractorblab.com to learn more about working your existing client base.
Happy Marketing
Glen Kohlenberg
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