Thu, 25 September 2014
What does it take for you to get out of bed in the morning to run your contracting business.contractor marketing 36
Every day in our contracting businesses or as a service provider we get up to go out the door to run our business. But what does it take to run that business? Why am I not making a profit in the market place? I have to stop trying to compete on price alone. Or if I’m in a situation where I do have to compete on price that I know what my numbers are so I can bid the work so I don’t lose money. Or I know when to walk away. How do I make a profit as a contractor? How do I get my prices in my contracting business to a place that I feel comfortable about doing the job In such a way that the customer feels like they are getting value because I don’t have to rush. Because from past experience I’ve bid the job to low and have had over runs poor relationship with the customer. And as a result no profit a mad customer and no chance of a referral. 3 strikes you’re out . On to a new inning its time to change the past and start a new day get in the game to win. Knowing what your numbers are knowing what it takes for you to run your business on an hourly basis ,a daily basis is crucial to whether you prosper or fail in business, then you add profit into the mix on your labor and material and you will be in the real game of business and be much happier. You can’t be like the 2 guys selling produce on the side of the road at the end of the day they say we didn’t make any money .We will have to get a bigger truck next time. Bottom line is go figure out what your expenses are break it down on a per hour and per day add the percent of profit to the equation and make sure it’s a healthy percent because no job ever runs perfect.
Direct download: What20does20it20take20for20you20to20get20out20of20bed20in20the20morning20to20run20your20contracting20business36.mp3
Category:pod cast -- posted at: 7:18am EDT
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Thu, 18 September 2014
Does the quality of your customer service add to your bottom line or create a black hole of lost revenue?
Is your customer service good because you work at it? Or is it bad because you don’t’ work at it.?
No one ever talks about mediocre customer service. More times than not you hear a complaint that’s the way it goes.
So think about this every time you hear a complaint about bad customer some business owner just lost a customer.
Customers cost money to acquire. You just lost a customer now you think I’ve got to go get another one. Spending more money on marketing to acquire a new customer to replace the one you just lost.
And you’re probably thinking I’d belter ramp up the sales and marketing to get a bunch of new ones just in case we lose more.
Granted no one keeps every customer there is always a natural attrition of customer loss. But losing customers because of bad customer service is a conscious decision of the owner.
Every company has a program to ramp up sales but most don’t have a training for good customer service .
Some might say I was never taught how to give good customer service what do I do? For starters You know what bad customer service is reverse engineer it. Turn the negative to a positive experience.
If everyone is trained on how the customer should experience good customer service then it becomes a company goal to be better.
Let’s look at it for 2 points of view the positive and the negative let’s do the negative first so we can finish up on a positive note.
Bad customer service outcome run the numbers for your own situation You lose the customer You have lost minimum of 2 referrals lost revenue You lost the life time value of the original customer lost revenue You have to market for your new customer If your closing ratio is 25% then you have to go and see 4 prospects time and gas To get one customer, and if your track record for bad customer service is in play, double or triple this number. The person who has a bad experience tells 13 people, fact. While the person who has a good experience only tells 4 Now let’s take using good customer service as an awesome back end marketing tool.
You have a ecstatic customer who was treated well with the program that you put together on how to give great customer service that you have taught your team..
They are ecstatic about your company and how they were and are treated they become an advocate for your company. They sell.
How many will they refer through their life time lets say 4 in the next 2 years. And 2 of those refer 2 in the next 2 years so that gives you 8 new customers in the next 2 years from one ecstatic customer. What if you had 20 customer that did that on a regular basis. It’s possible only of you set up your business thihis way.
Some great material to read for great customer service is
WAYMISH Why are you making it so hard for me to give you my money? Customer Satisfaction is Worthless Customer Loyalty is Priceless: How to make customers love you, keep them coming... Jeffoy Gittomer Inside the Magic Kingdom: Seven Keys to Disney's Success by Tom Connellan
Out-Nordstrom Nordstrom Creating the World's Best Customer Service by Keith Lee
Direct download: The20one20about20customer20service20is20it20a20marketing20tool20or20the20Black20hole20of20lost20revenue2035.mp3
Category:pod cast -- posted at: 6:50am EDT
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Thu, 11 September 2014
Is your proposal part of your marketing strategy or as one of your marketing tools?
Each day we go out to or potential client to give a proposal We’ve sent out a professional lead attraction piece or they have called off our professional website
Does your proposal build continuity with your brand? How about using your proposal as a continuation of your professionalism?
Everything up this point has been based on pure professionalism continue with thought and hit that home run. Give them the professional folder with your proposal and pictures A copy of our insurances, your personal guarantee if you have one. Maybe some testimonies out think your competition out preform them.
The more professional you appear in the beginning sets the stage for the work ahead. In this episode we give you a couple of additional tools you may not know about to help you out shine your competition.
Remember the client you seek is looking for value they will see that in your professionalism.
Direct download: Discover20How20to20Use20Your2020Proposal20as20One20of20Your20Marketing20Tools2034.mp3
Category:pod cast -- posted at: 7:00am EDT
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Thu, 4 September 2014
Why do some contracting businesses thrive while others fall apart during an economic recession?
Do all contracting businesses have to suffer during a recession?
What are some of the indicators or solutions that will keep you business healthy and growing during an economic down turn?
1. Create and measure your targets your goals for sales and growth and your revenue goals but be reminded that profit should be our main focus
2. Keep in touch with your customer base they are the heart bear of our business also a source of information for customer service and for the introduction of new products and services.
3. Also develop strategies for gaining new customers it needs to be strategic and trackable.
4. Decide whether you are going to be reactive to the climate at hand or your are going to be responsive.
5. Are you practicing the 3 M’s
6. Management do you know your numbers, are your employees trained effectively, do you have a up to date database of current clients you keep I contact with,
7. Money do you cost, labor ,job cost, what’s your break even?
8. Marketing shot gun approach or targeted approach , is it trackable, is it an investment or an expense ?
These helpful strategies implemented properly and methodically will put your business in a recession proof mode. Start implementing these today and prepare for the future. Keep your contracting business recession proof.
Direct download: The20One20About20How20to20Recession20Proof20Your20Contracting2020Business2033.mp3
Category:pod cast -- posted at: 7:00am EDT
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