Whether it’s at the end of the year, January 1st or right smack in the middle of the year on July 2nd, there needs to be a standing appointment you make with yourself to analyze what you’re doing with your marketing. We all have goals, but goals are hard to reach if we never know what’s helping us get closer and what’s pushing us further away from achieving them.
In his 1954 book titled The Practice of Management, Peter Drucker said a very famous line – “What gets measured gets improved.” What he meant by that is, when we quit paying attention to the progress of things, and we have old systems in place that could be improved upon, money is wasted and frustration sets in. The best business advice I can give any contractor is to simply take regular looks under the hood. Let’s measure… and then improve.
You want to change your business and make 2023 a banner year, right? Sure you do; but for that to happen, take some time and check stock of what’s working, what’s not and what needs to be changed going forward.
Five Steps to Audit Your Marketing
1. Measure Your Marketing Results by Channel
What is a marketing channel? In layman’s terms, it’s simply the way you’re getting your leads generated and your selling done. These methods can include your website, affiliate vendors, subscription-based referral programs, etc.
When you take a good look at the numbers, you might be surprised at what you find. Just because a particular avenue might be sending you a ton of leads, does not always mean it’s making you money. For some, getting the lead sent to you is just step one, and the competition, bidding and fighting begins from there. Sometimes these can be fool’s gold that we hold on to far too long because we see regular activity, but it may even be COSTING you money in the long run. Factor in closing ratio and compare money spent to money gained. Trim the ones that don’t make sense and consider boosting your investment in the ones that have a healthy return.
2. Check the Health Performance of Your Website
A website performs more functions than just generating leads, and it is a critical interaction point between you and your customer. You don’t have prospects visit your shop very often, so your website is literally the face of your company. According to the Pew Research Center, it takes less than two seconds for a web surfer (read: potential customer) to form an opinion on your website based on speed of loading, ease of use and design. And if that opinion is unfavorable, they’re gone.
Many contractors have no idea about the massive amounts of business they’re missing because they’re unaware their website is actively working against them instead of for them. Taking a gander at your analytics will show you a ton of valuable information on what needs improvement. How much traffic do you have? Where is it coming from and how long do visitors stay? Are your forms easy to use? Intuitive or frustrating? Are you harvesting email addresses and information for further marketing? Where are you displayed in Google’s rankings?
Answers to these questions above will allow you to assess your website’s health and worth. If these numbers show a red flag or are simply not where you need them to be, it may be time for a much-needed update or to call in an expert to help.
3. Identify Your Biggest Content Success
We’ve all heard the phrase “Content is king,” and if you want to keep customers engaged with you and stay top of mind, you need to stay in front of them in ways that aren’t constantly asking them to buy something. I hope you are taking advantage of blogs, social media and other forms of “soft-touch” interaction; but if not, it’s time to get on board.
Look back through your social media pages and other forums to see what’s gotten the most response and interaction from your market. Likes, views, shares and comments are all indications that you’ve struck a chord, and likely you can use that idea, or one like it, again soon.
4. Take a Fresh Look at Our Industry
I’ll warn you with this. If you do 2023 exactly like you did 2022, you’ll probably be disappointed this time next year. And if you’re planning to do 2023 the same way you did 1993, you’ll be out of business soon. We resist change because we’re comfortable with what we know, but like it or not, technology and how we relate to homeowners changes almost on a daily basis. What new offerings can you add to your selection of services and how can you promote them? How can you aim to be ahead of the curve rather than behind it? The worst image a contractor can have is to be perceived as behind the times.
5. Do You Need New Tools?
No, I’m not advising you to empty the bank account and go on a random shopping spree to buy all the cool new gauges and cutters that are out there. I mean, if you need them, more power to you, but what I’m talking about is possibly upgrading your business’s tools. It’s time for you to look at the performance level of the programs you have in place for the administration and marketing of your business.
A program that was perfect for your needs two years ago might not be delivering anymore or delivering at the same rate, yet the program costs more than it once did. Businesses rely on a lot of software, from dispatch and bookkeeping to marketing (there are many choices, so make sure yours make sense).
Is it cost-effective? Is it automated enough to free up your time? Are there better options? Don’t be scared to make a switch if it could bring you additional revenue or simply make your life a little easier.
Remember, you can’t make the necessary changes needed to grow if you don’t take stock of what needs tweaking. If you need some help taking Mr. Drucker’s advice on measuring and improving, we assist contractors with that every day at Hudson,Ink. Reach out to us and we’ll help make 2023 a banner year for you.