I provide a tracking application with our advertising program that enables me to track a customers ROI in real-time. We start with online typically because that is the most effective form of advertising for the customer that is looking to compete in todays market. We implement call tracking as well as track every contact method and provide a CRM where the user is able to
track closing ratio for the channel as a whole as well as by individual sales rep.
The next phase is to implement tracking phone number and tracking URLS in traditional advertising to monitor true ROI from traditional media.
We have coined the term Cost Per Install as the true measure of success for the fabricator as we use this to track performance.
CPI = is what it costs in advertising dollars to generate a sale. Once we have 1-2 months of data and this number the fabricator can typically increase or decrease the ad budget to reach the desired sales goal.
My best clients are between $100 and $150 Cost per install. This is a reflection of the competitive nature of the promotion and our ability to capture that customers contact information with our website tools. We emphasis to our customers that the internet customer is different than the traditional sale. What I like to do is to put my customer hat on. What is in the mind of the internet shopper for stone? Typically I have a quote from the box store in my hand or from the recommended stone shop from Jimmy down the street. Can I get more for the same? or Can I get the same for Less? They are also trying to make some design decisions around color and over all design.
This is where I help the fabricator to attack. Once they understand this as well as how to create greater perceived value they will see a rise in opportunities in conjunction with our marketing program. Since we track everything we can tell in just hour the
effectiveness of a promotion and tweak it until we are right in the sweet spot. The sweet spot being that the clients phone is ringing, appointments are bing set and deals are closing at the target cost per installed countertop.
We have really dialed this in with our customers to date and typically can direct them to a good base of business for B2C.
I was at a BNI meeting the other day and the guy 2 seats down stands up and tells a story about how he sells tires as a package price rather than price per tire. His long time customer comes into the store and states “I just got tires for $104 a piece and your $125, I got a great deal” he proceeded to ask about mount balance fees, stems, etc .. and the guys said yeah that was extra. The long time customer did not look at the bottom line price they simply looked at the tire price and remembered that. In that customers mind they got a great deal and did not remember the bottom line price .. just the price per tire. I looked at this guy and just wanted to show him the way but it was not the time.
Some people shop on bottom line but most everyone markets itemized pricing to increase the perception of less cost for the same service. When you ask them later about price they will typically state the per square foot price rather then what they wrote the check for.
We call this application Spark. This application is a lead management tool/ CRM/ Workflow management that can work for virtually any industry that has sales people.
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