Home Improvement Marketing: The Circle of Life
If you have kids or grandkids, you undoubtedly watched “The Lion King” at least once…or, if you are like me, dozens of times. One of the key themes is “the circle of life.” Home improvement marketing professionals have their own “circle of life,” that must play itself out much more often to insure success.
Home Improvement Marketing: What You Have to Do Every Day
At the end of the day, if you own a home improvement company, you’ve got to do three things over and over again:
Over the course of our next few visits, we’ll go a bit more in depth into each stage of the cycle. As this is a service about home improvement marketing, we’ll start with what we feel is the key to success in for home improvement dealers; lead generation.
There are two main considerations here, and they, themselves, are interdependent; cost and method.
Home Improvement Marketing:It’s an investment
While there are many methods to generate home improvement leads, the adage about “free lunches” definitely applies. The biggest mistake that a new home improvement company owner can make is an unwillingness to make a major financial commitment to initial lead generation.
The good news is in the “circle of life” example itself. Most home improvement dealers evaluate their marketing costs as a percentage. What the “right” number is varies based on a numbers of factors including maturity of the market, age of the dealer and size of the market (media costs). Many of your large operations are “marketing machines” and they’ll strive for a 10% to 12% overall marketing cost. In theory, if you commit to taking $.15 out of every dollar sold, and reinvesting it into your business, you can build a self perpetuating home improvement marketing machine.
Next time we’ll start breaking down some of the methods and talk about the relative cost involved in each.