To create and maintain consistent ROI, one of the most important things you can do is track your data. By implementing tracking and data collection, your business – be it in plumbing, electrical, or HVAC – can benefit. Today we will break this down to show you exactly how tracking works and how it pays off.
Assess and Research
In the initial steps of the process, the goal is to determine the milestones that need to be met, what ability the company has to grow, and which marketing tactics will and will not work for your company. We look at your current situation in the marketplace, identify your best customers, and the best way to reach them. In the initial steps we work together to formulate a marketing plan that both addresses your growth goals, and helps you hit the financial milestones needed to reach those growth goals. Growth doesn’t happen overnight but with persistence and the right tools it does happen!
Tracking the Data
The next steps involve putting the plan into action and tracking the results. Every time someone calls the office your CSR should be recording the answer to the question, “How did you hear about us?” Special tracking numbers can be placed on direct mail pieces, yard signs, and in radio ads. Coupons are another great way to determine what is and is not working. There are easy and effective ways to track the success of your internet marketing and Pay-per-click campaigns. At Contractor 20/20 we have tried and tested data tracking sheets that help you keep track of the most important numbers involved in the overall success of your company. During this phase we implement our best plan and track the data so we can evaluate its success.
Evaluate the Data
The final step of the process is evaluating the data. Did it work? Who responded best to our plan? Was there one particular form of marketing that had a greater ROI than another? Was there one particular form that had a greater reach? Should we spend less money on promotional products, and more on direct mail? Did we get the call but not close the deal? Do we need to adjust prices or work on training? Were there any surprises in the data? What do these surprises tell us about the market, our customer base, or our company image? In addition to evaluating the data we can also have our professional telemarketers contact customers to obtain reviews, or even simply evaluate the overall market to see if there has been an increase in general name recognition and image.
Extending into the Future
After evaluating the data we tweak the plan to adjust for the data received. Now fully confident in the plan, we can start working toward your long-term goals. Whether your company grows exponentially or your team retains lifelong customers, the main achievement will be to take your plumbing, HVAC, or electrical business well into the future years ahead.
Tracking the data doesn’t stop—in fact it never stops. Tracking data should always be a part of your business model and is something Contractor 20/20 can help make simpler for you.
Let’s get started! If you have questions or concerns, or just want more information, Contractor 20/20 is the team to call. We do this every single day, ensuring contractors excel in business within their communities and beyond. Call us at (607) 770-8933.