Can You Handle The Truth? There Are A Few Basics You HAVE To Understand…
Listen Carefully: You Can’t Shoestring Budget Your Way To Success.
By Rich Harshaw
I had a conversation with my head of business development lately about a potential client who was struggling to commit to the amount of money we were asking him for our construction marketing services.
$599 a month.
The contractor, it seems, owns a smaller company… and that $599 a month represents a lot of money. If he gives it to us to perform our contractor marketing services, I was told, the contractor probably won’t have any money left over each month to spend on other marketing activities.
Given the fact that our primary service offering includes creating an Identity, building a killer website that converts, performing search engine optimization (SEO) and pay-per-click (PPC) services, and developing pre-positioning materials, the concern is valid that “it will take a while to develop that stuff and have it make a measurable impact on my business.”
It’s true. Our website building process takes about six months. It takes another six months after that to get your site ranking where you want it in organic search—if everything goes right. Our program is not a “give Monopolize Your Marketplace money and then take a huge check to the bank the next day” kind of program.
It’s more like building a foundation that your entire marketing program can be built on.
So I gave my head of business development some advice about selling our services to that struggling contractor:
DO NOT SELL OUR SERVICES TO THAT COMPANY. PERIOD.
Sometimes Trying To Figure Out WHERE To Spend Your Money Is The Hardest Part of Marketing…
Sometimes Trying To Figure Out WHERE To Spend Your Money Is The Hardest Part of Home Improvement Marketing…
Marketing Quick Tips: Budgeting
By Rich Harshaw
Note: This article is part of Monopolize Your Marketplace’s ongoing “Marketing Quick Tips” series. This information is not meant to be comprehensive; it’s simply meant to give you some quick ideas on the topic.
New year, new opportunities.
From an advertising and marketing perspective, it’s a good idea to check your budget every January to make sure you’ve got a good plan going into the new year. Here are some quick pointers to help make sure you’re putting your money in the right buckets:
Tip 1: Buying Your Leads: The most fundamental and important budgeting principle is actually a mindset—the mindset that you must spend money to buy your home improvement, plumbing, or roofing leads.
I learned this the hard way several years ago when working with an $8 million home improvement company that had about a $100,000 a month marketing budget. My job was to work with the owner to allocate the money and make many of the various media buys. After a couple of months, the owner got me on a call and was mad—he was reviewing his numbers and saw that his leads were down and sales were down… and the reason was simple: I hadn’t spent all his budget. The money I thought I was “saving” him in advertising was actually COSTING him big time. He not-so-patiently explained to me that he has to BUY EVERY SINGLE HOME IMPROVEMENT LEAD HE GETS.