Painting Contractors: Here’s How to Maximize Your Current Prospects
Often I have Painting Contractors ask me, “How can I get more leads?”
Before you start thinking about how to get new leads, first ask yourself, “Have I maximized the value of my current prospects?”
When you get new leads, you need to factor these costs:
- The cost of the lead, if you pay a lead service like Home Advisor.
- The time it takes per estimate, phone calls to schedule, phone calls to follow up and getting all their information into all your database.
And who knows, you might not even close those extra leads…
How can we maximize our current prospects?
First, the greatest resource, your past clients.
Do you contact or engage with your past clients?
- Most contractors do not
- Past clients are the most apt to buy from you
- Keeping in contact costs you nearly nothing
Ways to keep in contact:
- greeting cards
- phone calls
- birthday cards
- note cards / thank you cards
- kids birthdays, pets birthdays
- Facebook posts
- congratulating them on their accomplishments
- on Linked-In you get notified of promotions or job changes, congratulate them on that
If you can increase your close rate and/or the average ticket, you win!
How can you increase your close rate?
- Follow up on your current estimates, with permission, ask if you can follow up at a certain time and day, if you call and they still have not decided ask again when you can follow up and repeat until one of you dies.
- Add value to the estimates, throw in something like painting the base for free when they paint the walls and ceilings (but do NOT discount)
How can you increase your average ticket?
- Increase your prices obviously; but better than that:
- Upsell, pay attention to things they are not mentioning when they are discussing their project.
For example, you may notice the exterior is in bad shape, or the front door could use refinishing, maybe the trim needs a touch-up, just ask them!
- Close rate is figured by # of jobs sold divided by # of estimates. Ex: 45 jobs sold / 157 estimates given = 28.6% close rate
- Average sale is figured by total revenue divided by # sold. Ex: $104,737.50 revenue/45 sales = $2327.50 average ticket
- If you improve your closing rate by just 10%, that’s just one more sale out of ten estimates AND your average ticket increases by 10%, $233.25, then you just added 21% in revenue, almost $22,000.
Let me show you what that looks like (see video)
I hope this helps!