Marketing is like going fishing in a giant lake without knowing what bait to use.
Closed-loop marketing is like shooting fish in a barrel.
You understand the need to market your home improvement business. A few companies don’t spend any money and get all their work from referrals. For the rest of you, you’ve still got marketing campaigns out there to generate new leads.
A lot of that marketing is hit and miss. Homeowners have figured out how to ignore your door hangers, mailers, coupons and your ads on radio, in newspapers, and on Google. You might even be buying leads from HomeAdvisor and the other lead gen services.
Whether you’re spending $50 or over $300 to bring in those qualified prospects, it’s never cheap. What closed-loop marketing does is make sure you get the most out of your huge investment. Here’s how it works:
Closed-Loop Marketing Revealed
As you know, nearly all sales people want the warm leads. The fresher and warmer the better.
But here’s what you absolutely must consider – every homeowner with a need and the means to pay is a lead…
You’ve generated leads who never sat for an appointment. And you’ve brought in prospects that sat for the appointment, but didn’t buy. And let’s say you paid $200 for each and everyone of them. Was that just the cost of doing business? A marketing expense that showed no return?
Why not spend a little time and energy to continue marketing to leads you’ve already paid for? That is closed-loop marketing. They’re still homeowners, with a need, and the means to pay… but they didn’t buy from you. Just because they didn’t doesn’t mean they hate you. It might be they weren’t ready to buy just yet. But their need hasn’t gone away…
Most people who make an inquiry with a company end up buying within 10-18 months. Home improvement projects are usually big-ticket expenses. It’s not easy to say yes to a new kitchen remodel or adding a backyard patio.
If you continue to market to homeowners who’ve made that inquiry, you have a better chance of being there when they finally say yes.
It doesn’t mean you have to call them every day, every week, and pound them into submission. You can:
- Send a newsletter
- Mail a discount
You can spread out each communication and try again at 2 weeks, 30 days, and then 3 months later.
And you should consider this – even your past customers should be in your closed-loop marketing system. That’s right! You can keep reaching out to people who’ve already bought from you to upsell more products and services. And they’re the perfect match because they know you and your work!
It can be hard work to get sales folks to work those cold, dead leads. They want the hot prospects (like they do at nearly every company.) But there is a goldmine out there waiting your for home improvement business – and you’ve already purchased the rights to dig. Take advantage of it and you’ll grow your bottom line.
Closed-loop marketing can be done any number of ways. You can create an Excel spreadsheet of all your leads and go down that list every so often and market to them. Or you could create a process to set reminders using Outlook or any other e-mail system.
But the best way to implement it would be to automate as much as you can with a CRM (Customer Relationship Management) system.
All your leads are in a centralized location. Everyone can access it. It’s available on the cloud (which means it’s available via the Internet.) And you can create an automated reminder system that tells your reps it’s time to send the e-mail, make the call, or mail a coupon. You can build e-mail templates that can be sent out automatically to handle most of this for you.
If you’re interested in taking a test drive of improveit! 360, we can show you how our system is perfect for the closed-loop marketing process. Call us at 866-421-3360. Or fill out the Free Demo Form.
Now, it’s time to go fishin’!