When it comes to advertising your business, there are so many choices, any of which can “work” to grow your business. But which ones work the HARDEST for the LEAST AMOUNT OF MONEY? I’ve spent 40 years in advertising, and I’ll give you some free advice on three “must have” expenditures that ring true no matter where you are located.
First and foremost, your most cost-effective form of advertising is the message on your trucks. Why? Because they are in the neighborhoods you already serve, and once you pay for the paint job, the ad keeps working 365 days a year— at NO ADDITIONAL COST. The key to getting the most bang for your buck is to have an easy-to-read, memorable logo, and a large, easy-to-remember phone number. It’s probably the most effective form of “referrals” you can get.
Second, if you’re in a large market, it pays to keep your service area “tight” so trucks aren’t criss-crossing all over the area. You make money servicing equipment, not driving to appointments. Getting more business in the areas you service is relatively easy, and requires reaching out
to qualified homeowners directly. Every single home in your service area is a potential customer! Yes, they may be happy with their current provider, but the average homeowner moves every seven years. It’s good business sense to purchase a mailing list of qualified homeowners in the zip codes you already service and reach out to them.
Last but not least, budget at least 10% of your marketing dollars right off the top to communicate with every single customer whose home you have ever serviced. A past customer is TEN TIMES more likely to purchase from you than someone who has never done business with you. It costs, on average, at least $350 to get a customer, but all too often, dealers acquire them and forget them. That may have worked in the ’80s but today’s marketplace is competitive, and you have to keep winning your customer back year round or risk losing them to the competition. Of course, the most efficient way to keep in touch with all of your customers is through the mail, and a newsletter is a very good start!