I See You Making More Money In 2014… If You Follow My Advice.
A Clear Vision Of The Remodeling Industry For The Upcoming Year
Move over Nostradamus. It’s time to peer into the crystal ball and see what 2014 holds in store for remodeling contractors. Marketing–wise, or course. Fortune telling can be risky business, but I think you’ll agree that these 14 predictions aren’t just bold—they’re spot-on.
6 Things That Will Go UP In 2014 (Predictions 1 through 6)…
Going Up: DVR Usage – Pay close attention if you do any television advertising (and you really should be). The TV reps will show you a hoard of data to convince you that the DVR trend is leveling off and that most prime-time shows are still watched live. Don’t believe it. If you dig into that data a little further, the trends—and ramifications of those trends—are devastating for remodeling companies. The overall DVR adoption rate is right around 50% of all households. That rate soars to over 70% for home with over $100,000 in income (read: your customers), and that same group watches the least TV anyway. Solution: Buy local network affiliate news—think about it: nobody records the news and watches it later.
Going Up: Home Show Attendance – The recession is clearly over, and the stock market is hitting all-time highs again. This means that most folks’ portfolios have bounced back, and the fear of investing major dollars in home improvement has gone down. This is all around good news, and will cause a surge in home show attendance this spring as pent-up demand continues to get released in the market. Skip this year’s home show at your own peril—it’s going to be a good one. Also expect more competition at the home shows; take proactive measures by contacting Monopolize Your Marketplace about our Home Show Package that can help you cut through the clutter and set more appointments than ever.
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The One Most Willing To Walk Away From A Negotiation Has The Power.
What Could Be Better Than Getting
A Great Deal On Advertising… AND Playing With Fire?
Introducing The Ultimate Negotiating Tactic For Fearless Marketers.
Next time you go to negotiate advertising prices with your local TV, radio, or print salesperson, first stop off at Wal-Mart and pick up a new Aim N’ Flame. It just might be your most powerful negotiation tool.
In a recent consultation with a 2-day bath remodeling company, a client told me that they had decided to quit advertising in the local newspaper. Their $2,000 a month ad HAD been pulling 20 to 25 home improvement leads a week for an average of about $80 to $100 a lead—very acceptable. But over the last 6 months, their lead flow had slipped down closer to 8 or 10 a week—not great, but they were still able to make money. Now with the rate increase—about $2,500 for the same ad—they were ready to call it quits with the paper. They wanted my advice on what to do with the money instead.
Not so fast!
Rule #1 of negotiations is to understand what motivates the other person so you can position yourself to give them whatever will make them happy. And in this circumstance, it was easy to see that the paper was STARVING for business. So many advertisers had already bailed out that they foolishly decided that they’d have to raise their prices to continue to make ends meet.
Since the client was fine with paying $80 for leads, I told him to call a meeting with the sales person and bring a pre-printed, pre-signed check for $15,000. That’s right—FIFTEEN GRAND. He assured me that his cash flow could handle the $15,000 hit, so I told him to bring the check. Then he was to look at the salesperson and say, word for word:
“I am holding in my hand a check for $15,000. I would like to give it to you today. This check will represent a pre-payment for 200 home improvement leads that I am willing to pay you $75 each for. You will run my ad as much as possible, and every time we get a lead, you can deduct $75 from my account. We are willing to utilize a trackable phone number so you and I both will know exactly how many leads result from your publication. You can either take this check and immediately begin running my ad, or I can take this here Aim n’ Flame and burn this check right now. You have 5 seconds to decide. Which do you prefer?”
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Streaking Isn’t Just For Naked Hippies Anymore! You Can Do It Too!
A Fun & Unusual Strategy For Getting Stuff Done In 2014
Written by Rich Harshaw
Note: About once a month, Monopolize Your Marketplace takes a break from contractor marketing advice and focuses on personal development topics. We call this ongoing series “Personal Edge.” Enjoy!
Nothing beats an ice cold Dr. Pepper on a hot afternoon.
Or on a cold afternoon for that matter. Come to think of it, nothing beats an ice cold Dr. Pepper on just about any kind of afternoon. At least that’s what I used to think until my oldest son, Sam—just 4 years old at the time—came home from preschool one day where he’d apparently learned to “just say no” to drugs. The dialogue went something like this:
Sam: Do you know what’s in Dr. Pepper?
Me: No, Sam. What’s in Dr. Pepper?
Sam: Caffeine.
Me: Really?
Sam: Yea. And do you know what caffeine is?
Me: No, Sam. What is caffeine?
Sam: It’s a DRUG.
Me: Oh my.
Sam: Do you know what happens when you take drugs?
Me: No, what?
Sam: You DIE.
Me: (no comment)
Hardcore stuff for a preschooler. But I guess he had reason to be concerned. Follow the logic: Drugs will kill you; Dr. Pepper contains a drug called caffeine; dad drinks about seven Dr. Peppers a day; dad is going to die soon.
Those of you who have children will understand that any attempt to explain away the differences between Dr. Pepper and, say, heroin, would prove to be fruitless. So I did what any good dad would do—I quit.
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