Here's my first attempt to document my plan / journey in regards to marketing in terms of lead generation for my remodel company with an emphasis on bathroom remodels.
- It has become abundantly clear how important pricing is and getting a true handle on CAC and comparing it to your 30 day PPD. For me in particular, a bathroom takes 2.5-3 weeks which is why the PPD section of Money Models is so important. The deposits alone for each bathroom on top of the fact I can get 50% by beginning of week 2 is huge when it comes to liquidity and setting marketing budget. CAC is pretty much the same for a lot of remodel companies I've come to realize with an average of $250 per qualified lead, with a 20% close rate if a lot of us are being honest with ourselves at roughly $1000 (can be more like in my case with a local marketing team involved for fully loaded CAC)
2. It has also become clear to me that leads aren't a silver bullet as some people make them out to be, you still run similar costs when you look at average CAC between contractors on one channel (in my case google) and the single greatest lever being that of making the customer worth more-charging more, upselling, etc. All of which I'm trying to figure out. I've already met with my marketing team and we are figuring on making a solid offer of doing a kitchen remodel at a premium price, with "FREE walk in shower conversion" per the advice to keep the free thing free and the premium thing premium. (avoiding arbitrary discounts)