Today’s quote: Successful wealthy people have multiple streams of income, successful & wealthy business owners have multiple streams of marketing AND multiple streams of income.
Of course this show has always been about marketing and I want to take a look at something a little different. As we grow our businesses we have a tendency to drop off the marketing pieces that started us off.
You know the ones! When we were broke didn’t have any money, we invested a lot of time in marketing pieces that actually did not cost much money. It is funny that as we evolve our business, we sometimes have a tendency to drop those things off. So today I just want to take a look at two little things that I did at the very beginning, which I dropped off. Of course I say we always have 20/20 vision afterwards so I implemented them again because they worked so well.
Giving Away Services
The first is a slow building technique that will actually help you be better recognized in your community and accomplish brand building.
It is by giving services away. By that I mean to charity organizations that can benefit from, let’s say, the sale of your service or product. So here’s an example I have… a charity that is going to have a silent auction. In my case what I do on a regular, ongoing basis is to let charities know that I will be more than happy to give a free house washing certificate that they can sell in their silent auction. This puts my name and my company in front of people that are going to the charity and every year they call me, which I am very happy that they do. I print up the certificate for the charity stating what I will do. In my case I print up the “House Wash To Clean Mildew & Algae” off the body of the house up to 2600 ft.² One story only, and any additional cleaning can be purchased at a discounted rate because of the certificate. It’s good for one year. I also send with the certificate, brochures about my company that can go on the table.
The charity gets all the money and I’ll go out and do the cleaning when they give me a call.
Partner With A Realtor
Another way that I use the same charity certificate is that I have a lot of Realtors that I have done business with over the years. I also let them know that I will do same thing for their charity, but put their information on the certificate as well as mine so that it looks like that Realtor purchased the certificate and gave it to the charity. The neat thing is that that Realtor also receives the benefit, so that’s a great win-win.
Let’s break this down a little. Why would you give stuff like that away? Well there are many reasons, but a big one is that it helps build up your name and reputation in the community. Tons of people walk by that table at the charity auction. They get to see your certificate, they pick up your brochures and every one of those certificates gets purchased during the silent auction.
While they DO sell all of the items for charity, only about 40% get redeemed and out of that 40% maybe 50% of those people will actually purchase other services. So I have some marketing materials that I put together and for each house wash that I do. It takes one of my guys an hour or so to do, sometimes less, sometimes little more depending on circumstances.
And so what has it cost me? With the truck, the employee and all that maybe $60 to buy a customer that has a lifetime value of, let’s say for just pressure cleaning, $4,000 to $5,000, maybe more over the next 10 years. That’s a really good return on my marketing efforts. But there again, it’s not a quick fix to getting a lot of business. It is just a steady pace that will continue to keep your name in the limelight and to grow your business over time. You know that the key is to grow your business with these kinds of multiple streams of marketing.
Let’s look at one other marketing strategy that is a simple but easy way to get business, and you really don’t have to do a whole lot because your guys are going to be there so it’s nothing way out of the ordinary.
Handing Out Brochures
So here’s what I want you to think about every time you work in a subdivision. It doesn’t matter what type of business you are in, this always works. Make sure you have brochures that have a good call to action and have your people put out to the houses near the job site. I have them do three houses in each direct on both sides of the street so that’s 6 houses that they will put on the brochure on. On the back of the brochure I have them put their name so that when that customer calls our office, the office will ask how to hear about us. The potential customer will say they have the brochure and then they ask for the name on the back.
We will give that employee a $25 bonus for handing out the brochures, it’s easier to reward than demand. I reward them for doing this, there again I’m paying $25 for a customer. This is way cheaper than what I normally pay for a customer. My employee gets $25 for passing out flyers every time someone calls and I mean that’s a win-win situation. Sometimes as contractors we get cheap, make it worth it them for handing them out…give them the $25!
This is just two things that you can add to your arsenal if you’re not doing it already.
If are doing it, that’s awesome! Remember it’s multiple streams of marketing that will keep the phone ringing.