Latest / Contractor Business Builder Podcast / How to Build a Scalable Sales Machine for 7-8 Figure GCs

Transcript

How to Build a Scalable Sales Machine for 7-8 Figure GCs · Contractor Business Builder Podcast

0:00
Most contractors are stuck in a never ending loop of estimating,
0:04
chasing, and then hoping and they don't even realize that
0:07
their sales process is the problem.
0:10
The scale framework changes all of that.
0:12
I'm about to show you how to build a sales machine that
0:16
scales your sales. In this video, I'll walk you
0:19
through the five part scale system that's helped general
0:23
contractors close more jobs without getting buried and admin
0:26
follow-ups or tire kickers. All right, so let's figure out
0:29
what is this big scale framework that's gonna help you boost your
0:34
sales, get rid of all that admin stuff.
0:36
First thing we talk about is the actual sales process.
0:39
What are the steps to a high converting, high level sales
0:42
process that we're going to be going over?
0:44
CRM, which CRM, how to use it, how does it help, how to set it
0:49
up? The next step is automation.
0:51
So consistency, speed. How can we automate these
0:54
processes so that there's less work for you?
0:57
You're the potential client feels like they're just part of
1:00
the system moving through and is getting an amazing experience.
1:04
Then I'm going to be sharing with you next steps as far as
1:07
leverage and how to engage with straightforward closing and
1:12
branding and data in those sections are going to be an
1:14
additional next step after this video.
1:17
We're going through the 1st 3 today.
1:19
Those are the big ones that you're going to want to get into
1:21
place so that you can scale your, your contracting business
1:24
finally get that big success that you're looking for.
1:26
So if you don't have a clear path to follow with your client,
1:30
how are you ever going to get through the end zone to the X
1:33
marks, the spot, you know, gold and actually get the client
1:36
sign. So you need a straightforward
1:38
path for the client that's seamless and easy.
1:40
And this is the one that I found to be the most effective.
1:43
Depending on your business, you may want to switch things up,
1:45
but this will give you a good idea of what sort of path you
1:48
want in place. And I'm going to be going
1:49
through the big steps and sort of explain them a bit.
1:52
What you're going to need inside your business is some sort of an
1:54
SOP document. So you should have a standard
1:57
operating procedure for these. Start with the big steps, put a
2:00
little description on it and you'll kind of build it out over
2:02
time. So don't get hung up on you.
2:04
I need to get SOP and right away you definitely want to have one,
2:08
but at first just figure out what are the big steps that need
2:11
to get followed every time to help bring that client to the
2:13
touchdown to the end zone. So first thing is qualifying
2:16
call. They're going to reach out to
2:18
you. Maybe they call your business,
2:19
maybe they fill out the form on your website.
2:21
What however, a lead comes in referral, whatever may be you or
2:26
your admin, your, your receptionist, whoever it is, is
2:28
going to call them your salesperson.
2:30
Hey, Miss Smith, thanks for, you know, contacting us.
2:33
Can you tell us a bit about your project, what you wanna do, all
2:35
these kind of things? You're gonna have all these
2:37
different qualifying questions because you wanna know is it
2:40
gonna be a client? Can you actually provide
2:41
services? Are they looking for what you're
2:43
able to produce? Is their budget at least
2:46
somewhat in line? All these different things, are
2:49
they in a location that you service all this stuff?
2:51
So qualifying questions, considering that it's a good
2:54
client and good potential, you're then going to book a
2:57
discovery consultation. Typically the qualifying call
3:00
call can be done by an admin person, just someone friendly
3:04
and able to take a call to discovery consultation will be
3:08
done either with yourself, if you're still the primary
3:10
salesperson or if you've got, you know, an actual sales person
3:14
on your team. It would it would be handed off
3:16
to them, but they're going to book a discovery consultation
3:18
call. This could be an in home visit
3:21
as well, depending on the situation, your client, how your
3:25
company operates. But this is going to be like
3:27
kind of a more of a sit down meeting and really understanding
3:30
what they want, what they're looking for and providing really
3:34
good feedback on their project and what you can have in that
3:37
discovery consultation. You're going to provide a
3:40
ballpark budget. So no matter what the project
3:43
is, you should at least be able to get some sort of a ballpark
3:46
figure to be within maybe 15% of what the final project might be,
3:50
15 to 20%. At this point.
3:52
You want to know, you know, and the client wants to know, is
3:55
this project this, you know, home or, or whatever, is it
4:00
$800,000 project or is this like a $2 million project, right?
4:04
Like what's the scope of budget that this client's gonna need?
4:08
Is it feasible? Because you don't want to
4:11
continue with the conversation or start estimating on a set of
4:15
plans or ideas that they have if it's nowhere near their budget.
4:20
So that's the purpose of discovery consultation.
4:22
The ballpark budget is to really get a good feel for who they are
4:25
and what they want. And if it's in line with, you
4:27
know, reality From there, after you've done a ballpark budget,
4:31
you may do a more of like a rough budget, something a little
4:33
bit more like built out, But you're not going to spend, you
4:36
know, hours estimating to specific plans and, and going
4:40
through selections and all that stuff, tendering out bids and
4:42
things like that. You should then be able to move
4:44
them into a pre con package offer.
4:47
And the reason I say pre con package and not precon service
4:50
agreement is signing the actual document is not what you're
4:54
selling here. Guess that is like the next step
4:57
to get into the preconstruction stage.
4:59
But you need to offer them a package.
5:01
What are they going to get going to get scheduling, They're going
5:03
to get design services selections, your professional
5:07
input. Maybe, you know, you may need
5:09
geotechnical or engineering or or whatever, right?
5:13
So budgeting all the stuff you're going to kind of
5:15
formulate into package so that they can see the value that you
5:18
bring to the table. And you're not just, you know,
5:21
trying to sell them on some sort of agreement.
5:23
You're actually trying to get them into the preconstruction
5:25
phase so that they can move forward.
5:26
And little quick tip here on the pre con, you know, package offer
5:30
is you always want to make sure that they know that this is not
5:35
construction contract. This is just to get all the
5:37
planning, design, budgeting, feasibility done so that then
5:41
they're in a good position to then take that information and
5:44
be able to move into the construction phase.
5:46
If they want to go the different builder or they decide not to
5:49
move forward the project, no problem.
5:51
They can, you know, cancel the services at any time.
5:54
This way you're getting paid though, and it's not, you know,
5:57
a rush. You're trying to like sell them
5:59
on a construction project. It's a much smaller risk.
6:02
If you want our template like a guide to get a PC SA agreement
6:06
or like a high converting PSP, CSA and grievance, check out the
6:10
links in the description below. We've got a special guide free
6:12
for builders to utilize to get the right information in your
6:17
pre construction package offer. So very important part of this
6:20
winning sales path. From there, once you're in the
6:22
pre construction package, then you move into rough budgeting
6:26
and design review. Now this step could be before
6:29
the pre construction package offer.
6:32
I would say you still want to offer and let them know at least
6:35
give them a heads up, but that would be the next step.
6:37
But then you can provide the rough budgeting and a bit of
6:40
design review for free just to provide some good will and to
6:44
get a little bit of a leg up on on your competition who may or
6:47
may not be doing this. So that's again, you're going to
6:50
have to figure this out as far as what's most effective as as
6:53
the ordering. But generally speaking, this is
6:55
the the best way I've found to do it.
6:57
Once you're in that pre construction agreement, you know
6:59
it's assigned, that moved into the pre construction process,
7:03
then you can get into final budgeting, design proposals, you
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know, skies the limit, go through that preconstruction,
7:09
make sure everything is beautifully designed.
7:11
And then by the time they've worked with you, you've got the
7:14
permits, you've got the schedules, you've got the
7:16
budgets, all this stuff's in place.
7:18
They've worked with you for multiple months now.
7:21
There's no surprises to them. They know everything's been
7:24
worked out. They know you, they know your
7:26
team, they know the budget to get them to sign a construction
7:29
agreement to move forward. The project is a very small
7:32
hurdle and this is where if you're having trouble closing or
7:36
you're finding that people reach out to you and then you refer
7:38
them to the designer and then they talked with their architect
7:41
and all this stuff. And then, you know, you end up
7:43
doing a bunch of estimating. And then at the end of the day,
7:45
they say, oh, we're gonna go with another builder or, you
7:48
know, we've decided to do something different or we're
7:50
gonna wait or whatever. It's because you don't have this
7:53
process in place. This is like how you work with
7:56
the client so that you're bringing the ball forward when
7:59
you need to, you know, get the touchdown at the end, move into
8:01
the construction contract. You're already, you know, on the
8:04
on the 1 yard line ready to go. No issues, no problems making
8:08
sense so far. All right, so now that you know
8:11
how that with the sales process looks like for your company that
8:14
you need to get in place those with big steps, we're going to
8:16
talk about the CRM organization. So you need some sort of client
8:21
relationship management software and I'm not talking about your
8:24
field software. So if you're using project
8:27
management type softwares, they have some of them have like a
8:31
lead kind of type and you can put new leads in and then you
8:34
can do the estimates and all that stuff.
8:35
So I understand that that's not what I'm talking about.
8:38
You need something before all of that happens.
8:40
You need that like new lead that comes in the communication with
8:43
them, automated emails, automations behind it, sales
8:46
pipelines and some sophistication to it.
8:49
It's not that it needs to be complicated, but there there's a
8:53
whole side of the sales and marketing and lead generation
8:56
part of a business that the project management software is
9:00
not designed for and does not do well.
9:02
And I've seen this time and time again, and this is often a
9:05
missing link, a missing piece, automated systemized
9:08
construction business with a high performing sales engine,
9:12
sales machine, which is what we're building here.
9:13
So this is the part of the CRM system that you're going to need
9:17
picking the right RPM. So you may be asking yourself,
9:19
which CRM should I use? There's a lot out there.
9:22
What even is the right ones? I am, you know, shameless
9:25
promotion here. We have our own Rapid Leads CRM
9:28
software that we've developed specifically for builders.
9:32
It's got the everything built out, automations, pipelines,
9:35
marketing materials, everything is there.
9:38
It's plug and play. You customize it and you run
9:41
with it. If you want to check it out,
9:43
there's links in the description.
9:44
Again, to go check it out, it's Rapid leadcrm.com.
9:49
You can go book a demo and check out the software this is a
9:54
screenshot of just like the dashboard.
9:56
This software has everything I'm going to mention.
9:58
But these are the big components that no matter what software you
10:01
use for CRM, this is what you need it to be able to do.
10:04
So contacts and client info. It should have all the contact
10:07
info for clients as well as any like notes, communications,
10:13
emails. The rapidly TRM connects with
10:16
your e-mail, so any emails from that client get put into the
10:19
system. Any social media messages with
10:22
that client get put into the social into the the system, you
10:25
know, uncertain not every social platform, but like the main ones
10:28
like Facebook, Instagram, things like that.
10:30
So one stop shop for your client communications.
10:33
You don't go have to go hunting around for emails or messages or
10:35
or this or that. It should have pipelines.
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So you're going to have your main sales pipeline and you're
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going to have your clients move from one station to the next.
10:43
This is really important to make sure nobody gets stalled out.
10:47
I'm sure you've had it happen where you get busy season and
10:50
it's like, Oh, I forgot to follow up with this client and
10:52
you're just letting you know, just bleeding sales essentially.
10:55
And then things start to slow up later in the year or or, you
10:59
know, into winter. And it's like, Oh, I should have
11:01
followed up with these people, you know, earlier or, or
11:04
whatever, right. So sales pipelines mitigate all
11:07
that thing with the pipelines too, is it gives you like a
11:10
visual where like what is coming down the pipeline, right?
11:13
Like if you're crammed with projects, you should have a
11:16
schedule for your projects to kind of know that.
11:18
But if you've just got like a ton of leads and they're all
11:21
coming through, you can expect, you know, hey, three, six months
11:24
out, we're gonna be slammed, right?
11:26
So we really need to prioritize these leads and figure out where
11:29
they fit in our production schedule, things like that,
11:31
right? On the inverse, if it's like,
11:33
wow, our pipelines looking really bare, we really need to
11:36
hit the phones and the marketing channels to build to bring in,
11:40
you know, we're going to be able to work in, in six months or
11:43
three months or whatever, right? So pipeline super important
11:46
communication. As I mentioned, calendars as
11:48
well. You should have all your booking
11:50
calendars tied into your CRM as well as links.
11:53
So if you've ever used like Calendly is a good free one
11:56
Rapidly HRM has booking links, so you can create multiple
11:59
different links for clients, for networking, for your internal
12:04
team. People can just book a time in
12:06
your schedule and you can, you can set your availability, which
12:09
days, which times do you want them to book into and all that
12:11
stuff. But it saves you so much time
12:14
and it it'll just automatically kind of link your calendar with
12:19
all the legends if you're having like appointments with potential
12:22
clients or discovery calls, all those sort of things right.
12:25
In the CRM software automations are huge.
12:27
And this is the real big differentiator between CRM
12:30
platforms. A lot of them do the rest of
12:32
this, their earlier stuff that I mentioned fairly well, like
12:36
contact info, pipelines, communication, calendar stuff.
12:39
That's pretty basic, easy stuff. Most all serums have that.
12:42
The automations is what really differentiates the good from the
12:46
mediocre. And that's what we've really
12:48
defined. If you know us, we're all about
12:50
systems, processes, automation. So want to make it as simple as
12:52
possible, have things run. There's so much good like
12:55
ability with software nowadays that having like automated
12:59
communications go out when people book a call or reminders
13:03
notifications, you move someone down the pipeline, it should
13:06
automatically be generating stuff on the back end.
13:09
So there's there's skys the limit with this kind of stuff.
13:12
So automations are huge, but this software with the sales
13:16
process like right there is just going to skyrocket your sales
13:20
machine and make your life so much easier.
13:23
It this gives you the professional touch as well.
13:26
So even if you're like, I don't know if I want to bite of all of
13:28
this right now and get this all set up, reach out to us, we'll
13:31
set it up for you. That's not an issue.
13:32
So no excuse there. But that said, it just, it just
13:36
makes so much sense to to get this in place and it'll make
13:39
your life so much easier. Integrations as well.
13:42
So API, which is just like it'll integrate pretty much with any
13:46
other software that has open API.
13:48
It could be with QuickBooks, we could project management
13:50
software. Not all project management
13:52
software is built the same. So if you have a good one and
13:56
it's got open API, it'll link up with your CRM, which hopefully
14:00
will. But integrations are a big thing
14:01
too because you want all the information from your CRM to
14:04
then get moved into your project management software or your
14:08
accounting software seamlessly. And that's another great thing
14:11
with automations and the pipelines.
14:12
Once they're set up properly, it's like you just move a card
14:16
to another stage and like boom, all the information goes to
14:19
whoever needs to go to the other softwares, everything.
14:22
It is a beautiful thing when it's set up properly.
14:25
So if you want help with that, definitely reach out in the
14:28
final thing I'm going to mention is the reports.
14:30
So how are you doing? What is your closing ratios?
14:33
Where are people dropping off in your in your pipeline?
14:37
As you can see from the screen here, every stage of the
14:41
pipeline has the drop off. So what percentage of people are
14:44
dropping off at certain stages? And it'll alert you to like, how
14:48
are we doing? Are we doing better or worse
14:50
than we than we were before, which you know, stage do we need
14:54
to focus on or where can we improve things or people not
14:56
showing up for calls? Are we having a hiccup in our in
14:59
our sales process where you know that PCs agreement seems to be a
15:03
big hurdle. Why is that right?
15:04
So you can go in and fix the small things in your machine by
15:08
knowing what's wrong with them, right?
15:10
If you're driving down the road and your engine starts smoking
15:13
and stuff going everywhere, you pull over.
15:16
But if you don't know what's wrong with it, you can't fix it,
15:19
right? And neither can the mechanic.
15:21
OK, so you still with me here. Kudos to you to taking the time
15:24
to actually get all this stuff set up and now the fun stuff.
15:28
Automation advantage, Derek, what kind of automations do I
15:32
need? How do I set automation?
15:33
Sounds confusing? Don't worry, it is not.
15:36
I'm going to be laying it out for you right here.
15:38
How did which automations to get into place and how to set them
15:42
up. So before I show you exactly
15:43
which automations, I just want to talk about a concept called
15:46
speed to lead. If you haven't heard about this
15:48
before, it's simply the amount of time it takes you to contact
15:52
that nowadays people's attention spans are short.
15:56
They've got the world at their fingertips.
15:59
They call you, if you don't respond, they're going to reach
16:01
out to the next contractor, whoever gets back to them first.
16:05
And I don't know the exact stats, but it's it's something
16:08
staggering. Like I believe like the first
16:11
company to connect with the lead, whoever is calling in has
16:15
something like a 50% advantage and it's 50% more likely to to
16:20
close that sale with that client then the other, you know,
16:24
businesses that don't connect with them.
16:25
So being that first person, that Johnny on the spot right there
16:29
is so pivotally important to ensuring that you are landing
16:33
clients and that you're the first one to talk to them so you
16:35
can get them into that sales process that we mentioned.
16:38
The way to do this, the automation that you want to have
16:40
in place is a call text back. So if someone calls you, you
16:44
missed their call, it'll send them a text.
16:46
Hey, apologies, we missed your call, please text us whatever,
16:50
right? You could ask them to text you
16:52
or you can just say someone will reach out to you in the next,
16:54
whatever it may be within the next hour or two hours or you
16:57
know, within business time or whatever.
16:59
But having that call text back, because sometimes people will
17:02
call and they may not answer again as well, like if you call
17:05
them back 5 minutes later. So send them a text because then
17:09
they can probably text back to you and it just opens up that
17:11
communication really, really quick.
17:13
And you can also text them and just say, hey, sorry, you know,
17:17
busy at the moment, I'll call you back in an hour or whatever,
17:19
right? So make sure you're texting
17:20
back. It can be automated.
17:22
Or at the very least, just send them a text yourself.
17:24
Let them know that you'll, you'll call them back shortly.
17:27
e-mail response and nurture. So same thing if someone sends
17:29
you an e-mail or they fill out the form on your website, there
17:32
should be an automated e-mail that goes out to them thanking
17:35
them for filling out the application, letting them know
17:38
next steps. Maybe even have like some links
17:40
to your social media or your website, some information.
17:43
If you can provide some really good information for them where
17:46
like a next step that they can take with the e-mail, even
17:50
better. And then get them in a nurture
17:52
sequence. So we nurture sequence is just
17:55
an automated campaign. Send them an e-mail, probably
17:59
like on the like an instant e-mail on the first day, next
18:01
day. You could send them something
18:03
that's interesting, like A blog article or you know, 5 things to
18:08
think about before while you're designing your project.
18:10
And then they essentially go into a nurture campaign.
18:13
Maybe you sent an e-mail every week over, you know, for eight
18:16
week period, whatever it may be. This is something you can
18:18
delegate as well. So if you already busy with this
18:21
whole sales process and everything that's going on and
18:24
you got your, your sites to manage your people to manage
18:26
whatever it may be, you once you have a system in place and
18:30
you've got the software set up, it just makes it so much easier
18:32
to delegate this to someone. You got your standard questions,
18:35
your forms, there's automations and it's very easy to delegate
18:38
this to somebody else on your team.
18:39
Now lead relationship info, all of the information, as I, as I
18:44
mentioned, can really be automated as well.
18:46
People fill in the form of your website, it goes to your CRM,
18:48
you go from there, it goes into the pipeline.
18:50
You can go to your project management software.
18:52
So any kind of information about the client can easily be
18:54
automated to go wherever you need to.
18:57
Another thing to automate is the scheduling.
18:59
So that scheduling link that I mentioned is another great
19:02
automation. They can book a time in your
19:04
calendar. It's synced with your calendar.
19:06
It excludes times when you don't want to have calls.
19:09
And from there they will get automated emails and
19:12
notifications to make sure that they actually remember the call.
19:16
It's really annoying as you know, if you've scheduled a call
19:18
with someone and they don't show up for it.
19:20
So having this automation in place so that they get that
19:23
e-mail, hey, as a reminder tomorrow we have our call at
19:26
4:00 PM. Then an hour before the call,
19:28
they get a text message. Hey, quick reminder, we're
19:31
meeting at, you know, whatever location or on Zoom or whatever
19:34
it may be, right? So get that scheduling
19:37
automated. CRM management went over that.
19:39
There's so many automations that are available now that you
19:43
probably don't even realize that can be done with your M software
19:46
that just take care of so much of that background admin work or
19:49
make that admin work just very easy to manage because a lot of
19:53
it can be automated. Alright, so you're really
19:55
getting a solid master class in sales today and how to set up
19:58
your sales system. I'm all about systems don't do
20:02
hard work over and over and over again.
20:04
Do the hard work once and get paid for it forever.
20:08
And that's what you're doing with these systems and these
20:10
processes. There's you're setting up your
20:12
business to be successful for the future and to help get
20:16
yourself out of this day-to-day that can just stress everybody
20:19
out. So I'm going to be going over
20:21
here the new lead process. The first thing is you're going
20:24
to have an initial call, as I mentioned that most likely be
20:27
your admin person. You're going to ask the
20:29
qualifying questions. From there, they're gonna add
20:32
them to your CRM. So the information is then going
20:34
to go into your CRM, their answers to those questions as
20:37
well as any information about the project or what have you.
20:41
From there, that admin person is going to schedule a meeting or
20:45
refer it out. So what they're going to do is
20:48
either schedule a meeting or they could send a link, or they
20:51
could say that someone else is going to, you know, reach out to
20:53
them, which would be yourself or the sales person.
20:56
After that, they're going to get the brochure.
20:58
So they'll get sent out like a little marketing brochure,
21:01
they'll have more information about your company, about the
21:04
design process, the preconstruction services, pre
21:08
construction phases of the project, whatever it may be.
21:11
But you're always sending them really relevant, high value
21:14
information. This whole process very
21:16
seamless. They get on the phone, they call
21:19
you or they send you an e-mail. It's like someone gets on the
21:22
phone with them right away. Speed the lead, ask him
21:24
qualifying questions, very professional.
21:26
It then gets handed off to salesperson or yourself, if
21:29
you're, if you're the main, you know, sales driver of your
21:31
business, they get information and then they get auto reminders
21:34
for the scheduling and everything is just really dialed
21:39
in. It's a beautiful process and it
21:41
just sets that bar with the client that, wow, this is a
21:45
company that has their shit together and I want to do
21:48
business with them because of how organized and how seamless
21:51
everything is. That's the experience that we're
21:53
going for and that's what's going to make that sales process
21:56
so much easier. And when you get into that final
21:58
close, whatever may be the PCs or the construction contract,
22:03
it's just going to make it flow with that much easier.
22:05
Going through a lot here. And this is the final section.
22:08
So if you wanna go pro with your business leveled up to pro
22:11
performance, go from that Prius to the Ferrari, these this is
22:17
what you're going to want to know about.
22:18
And this is like that next, next step that kind of like icing on
22:21
the cake to this whole process and, and really good information
22:25
to, to be able to, to look at, but also know so your pipeline
22:28
conversion ratio ratios. These are, this is something
22:31
that you should be looking at at least every order and really
22:34
dive into if things are off. And you always want to be kind
22:39
of bookmarking, what are your conversion ratios at certain
22:42
times to see if you're improving, if things are
22:44
shifting and, and how things are changing.
22:46
The beautiful thing about CRM 2 is the longer you use it, the
22:49
bigger track record and information you have to make
22:52
really data-driven decisions. A lot of times you can go astray
22:56
and you can feel like you're in kind of this Groundhog Day where
23:00
everything always kind of feels the same and you think like
23:03
things are improving, but it never really happens and you're
23:05
not sure why. It's probably because you're
23:08
just making decisions based on how you feel or how you think
23:10
the thing, everything should pan out.
23:13
But when you actually look at the hard numbers, you will
23:15
realize that, hey, my closing ratio isn't actually as good as
23:19
I thought. Or hey, you know, we'll have a
23:21
lot of people dropping off at this point.
23:23
So something really important to, to figure out with closing
23:26
rates, if you could include improve your closing rate just
23:29
by just 5%, that can add about 20% to your revenue.
23:34
So if you go from like a 20% closing rate to 25% closing rate
23:39
or 25 to 30%, whatever it may be, just boosting your closing
23:43
rate by 5% with the process and, and the software that I've
23:47
mentioned, that could add 20% revenue right out of the gate
23:51
for your, your company. And there's a lot of like small
23:54
little tweaks that you can do to easily boost this closing rate
23:57
by 5%, which you know, we've mentioned a lot of them are 80
24:00
today. Client acquisition costs, How
24:02
much does it cost you to get a client to sign a construction
24:06
contract? Figuring that number out, We've
24:08
got calculated and stuff for that.
24:09
If you want like really dialed in systems, you want someone to
24:11
set this up for you or guide you.
24:13
Like every step of the way. We do coaching, we do
24:15
consulting. I help my clients set all this
24:17
stuff up for, you know, beautiful systems that they
24:19
don't have to worry about. They can delegate all that
24:22
stuff. Reach out to us, you can send a
24:24
message or put a comment below. I would love to help you with
24:27
this, but it's a fairly straightforward calculation.
24:31
For the client acquisition cost, you're going to add up
24:33
everything that it costs on the marketing and sales side of your
24:37
business. So all the expenses for
24:39
marketing, for sales, for lead generation.
24:41
And then you're going to divide that by the number of leads that
24:43
you get and that will give you the the cost per lead.
24:46
And then you're also going to take that same number and divide
24:49
it by the amount of clients that you get.
24:51
And that's going to be your client acquisition cost.
24:53
The reason you want to know this is to know is it going up or
24:56
down? Am I spending more on marketing
24:58
and sales to get a client or less?
25:00
And if I'm spending $1000 on getting a client or getting, you
25:05
know, $200 for, for a good lead to come in, how much can I
25:09
afford on advertising budget or spend in my Google ads or, or
25:13
hiring a, you know, a lead Gen. company or what have you, right.
25:15
So again, data-driven decisions, sales cycle length is another
25:19
thing. So how long does it take from
25:22
new lead to actually getting into a PC?
25:25
See and and ultimately getting into the construction contract
25:29
is a growing or shrinking. Ideally you want to make that as
25:32
short as possible, right? New lead comes in and you get
25:36
them into a PC SA within the shortest amount of time as
25:39
possible. And by having those numbers, you
25:42
can then start to improve your process.
25:44
Average project size is another thing to look at.
25:46
So what's the average project size?
25:48
Is it growing, shrinking, staying the same?
25:50
Of course, typically speaking, the the average project size,
25:54
you want it to go up. Generally speaking, if you do,
25:57
you know, mass volume you're building, you know, 102 hundred
26:00
homes a year, then you may be good with your average project
26:02
size. And it's really about just
26:04
getting more volume, but ideally larger projects, you know,
26:08
better margins and depending, but more revenue, more potential
26:12
for profit overall with your business referrals, reviews and
26:15
repeat clients. Another, you know, important
26:18
analytics to know is how many referrals are coming in?
26:22
Is it more or less? How many reviews are we getting
26:24
on clients having? I have a separate reviews
26:27
pipeline and a separate referrals pipeline.
26:29
The reason for this is because referrals are so important that
26:32
I, you want to have a separate pipeline for them to make sure
26:34
they're getting star treatment. You know, the red carpet
26:37
treatment is what I call it. Need to roll out the red carpet,
26:40
make sure that they go to the front of the line as far as
26:43
communication and everything else because they're the most
26:45
likely to buy. They're most likely spend
26:47
additional money with you if they've been referred and then
26:50
as well as repeat clients, right?
26:52
If you have repeat clients, you know, you're doing amazing work
26:55
and you want to improve that number.
26:56
And if there's any friction anywhere in any of the steps
26:59
with referrals, reviews, the pipeline stages, you want to
27:03
dive into it. What's what's causing the
27:05
friction? Why is this happening?
27:07
How can we remove this? How can we improve this?
27:09
Alright, kudos to you. You are so far ahead of so many
27:13
other contractors by building out all these systems and
27:16
learning all this great stuff that I've I've showed you today.
27:19
Now it's time for action. So action, have fun and get it
27:21
done. We've talked about the sales
27:23
process, I've talked about the CRM, which one, how to get it,
27:26
how to use it, the automation, how to set up automations, how
27:29
to become a pro with the sales analytics.
27:31
Now you're missing the last two steps here to get the real sales
27:35
machine in place, and that is to leverage what you have is a
27:38
brand and then engage your clients into that
27:42
straightforward closing and getting them into the
27:43
construction project. So there is 2 videos.
27:46
The first one is building a brand, how to improve the
27:49
branding of your business to leverage that into a high
27:53
closing ratio. So you're going to want to go
27:56
watch that video. And then the second video got up
27:57
on screen. Here is the engage with
27:59
straightforward closing, how to close tips, tricks, and the
28:02
coaching close method, how to guide your client to a solid
28:05
close and improve your ratios. I'll see you on the next video.