Marketing is getting more and more expensive. So, it makes sense for every home improvement pro to squeeze every opportunity from all your prospects…
But does that include marketing and nurturing leads that you’ve already lost to the competition?
The way the sales process works in this industry is this: if a homeowner decides to buy – and they buy from your competitor – then they are removed from the sales pipeline. Right?
But take a moment to consider what you’ve got in your hand with a lead like this… You know a lot about them:
- You’ve got a homeowner who has a home that needs work
- They don’t do the work themselves
- And they’ve got the financial ability to pay for the work
Basically they are ready, willing, and able. They just bought from someone else…
Since you’ve already spent time, money, and energy acquiring these leads, why not continue to market to them? If you’re going to send out an email from your CRM system or from your Excel spreadsheet, what’s the harm in sending out a few more?
These homeowners could have been dissatisfied with the work done by your competitor. Maybe they didn’t like their installers or the mess they made. Maybe they hated their timeliness.
You really do want to keep your home improvement company on their minds. Even though they went with a competitor, the other company might never reach out and market to previous customers. And if you send them content, coupons, announcements, and other marketing pieces – you’ll be the first they think of when it comes time to hire again.
And if you add a new product or service these lost leads didn’t know about… guess who they’re going to call.
It costs you virtually nothing to market to them – you already have their name, address, contact info, and product interests. So use this opportunity to differentiate your business over the competitor’s. Show how your products are better, how your installation team is the cleanest, and how you know more than anyone else in your niche.
Two warnings to consider if you’re going to do this:
- Don’t continually sell to these leads. You’ll do more harm than good. Send them useful information or tips & tricks about their home. If you just sell and send coupons, you could lose them as a potential customer
- If they ask you to stop… stop. Don’t beat them over the head. Some of these leads could become your clients but if you annoy them it could lead to your emails consistently being marked as SPAM. This could hurt you on every email you send and make them un-deliverable.
Sales leads are never cheap. This holds true for nearly every small business. Even if most of your leads are generated through referrals and word-of-mouth, whenever you do have any marketing initiatives be sure to include the ones that “got away”.
You never know when you’ll be able to reel them back in.