At More Floods, we work to equip the water damage restoration businesses we partner with to effectively market their business, generating more leads and more income from their marketing efforts. While it is incredibly important to work hard to market your business, it is equally important to keep track of the results of your efforts.
Knowing your numbers is the only way to measure what is and isn’t working as you try new methods for marketing your business. Without these numbers, you are shooting in the dark, and will struggle to see growth in the number of leads and the number of times these leads turn into jobs. You will also find you are spending money on marketing efforts without any understanding of whether or not your money is being spent wisely or being wasted on advertising that doesn’t work.
Track All Incoming Leads
All water damage restoration businesses should have an organized method for tracking any leads that come their way. This should include tracking phone calls, visits made to homes and your closing percent. Make sure the details of the potential job are a part of tracking all of your incoming leads, including details provided about the damage and whether or not the lead materialized into a restoration job. One of the most important details to track is where the lead is coming from. This will allow you to see a clear connection between your marketing and advertising and whether or not they are generating leads.
Understanding Your Closing Percentage
Your closing percentage is the number of leads that turn into actual jobs. With the information documented by your business on all incoming water damage restoration leads, you can calculate your closing percentage and watch if change with time.
To calculate your closing percentage, divide your total number of sales by your total number of leads and multiply this number by 100. This number is the percentage of your leads that become income producing jobs for your company. You can further break this number down into categories to determine how many of your website referrals turn into jobs or how often a contractor referral produces actual income for your company.
Tracking Your Closing Percentage Over Time
Understanding your company’s closing percentage is only helpful if you keep a close watch on it in real time. Aim to increase your closing percentage for a small amount, roughly two to five percent, and then test out new advertising and marketing strategies to see what helps you to reach this goal.
Pay close attention to where you are spending your money and how this increases or decreases the income your company is bringing in each month. This will allow you to tweak your marketing strategy to better reach the customers who are in need of your valuable services.
At More Floods, we provide our members with proven marketing strategies and the tools they need to accurately track their numbers. To learn more about the More Floods community, click here or call 1-866-667-3356 to learn more about becoming a member.