Evaluating Home Improvement Leads
Getting home improvement leads ain’t nearly as easy as it used to be. I hear that a lot these days. With the economy soft, a lot of “tried and true” lead sources that home improvement companies have depended on in the past to drive sales seem to have done an about face and no longer perform like they used to, stranding many marketers and business owners in a land of high lead costs and low confidence about what to do about it. But there’s hope. I promise.
Track Home Improvement Leads By Source
How do you keep the flow of your home improvement leads maximized even in a sluggish economy? The answer: Track every lead source that you have with fervor and intensity. Invest your budget heavily in productive lead sources and quickly eliminate dithering lead sources. Actively managing your marketing mix is time-consuming and stressful, but it’s also absolutely crucial if you want more profitable marketing. With this economy lean and mean is the name of the game. So how do you track it? So glad you asked.
Have A System To Track Home Improvement Leads
One of the ways to know if a lead source is worth keeping to first make sure you have a system in place that lets you track, with accuracy, the number of raw leads that a given lead source generates. Unique Tracking numbers, for instance, are a great way to track different ads. At my company we use Call Tracking on many of our lead sources and we review them monthly. Using call tracking allows you to know precisely how many calls a given ad produced. The calls are recorded too so I know how well our customer are agents are fielding the calls.
After you have a system in place, the next step in actively managing leads is to examine how many of the raw leads converted into appointments, and how many of those converted into demos, and then ultimately how many demos converted into sales. These conversion metrics will vary by lead source. Once you know your numbers you can know if it’s time to eliminate a lead source or not.
To illustrate, I once embarked on an internet marketing campaign that produced a huge number of raw leads. I thought it was a bravo campaign. The leads just kept pouring in and it felt great, but then I found out that only 12% of my raw leads converted into actual appointments which ultimately meant we couldn’t generate enough sales to justify keeping the lead source. After a quarterly review, the ax fell. We knew with certainty it was time to eliminate that particular lead source.
Which leads me to my next point.
By constantly monitoring the performance of your marketing, you will be able to identify when a lead source may begin to falter. Sit down and pour over your Conversion Metrics on a weekly, monthly, and quarterly basis. Staying on top of the numbers and you will be able to make informed decisions with confidence about how to get more, and better, home improvement leads.