The market may slow in 2020, but that doesn’t mean your lead generation strategies won’t take off.
While we were at it, we shared some exclusive tips on how to find – and keep – those high-performing leads. Click here to watch the whole video!
What We Know About the 2020 Plateau
Harvard University’s Joint Center for Housing Studies estimates that the remodeling market will continue at its current growth until mid-2020. After that, it will taper off for the year.
The good news is there has been a 10% increase in replacements and upgrades since the recession. Also, there are more homeowners now than there have been in the past 12 years.
The demand for home improvement services will remain, but the rapid rise in the cost of buying or building a home is throttling growth potential.
Lead Generation Marketing in 2020
With the projected slowdown, it is important to put your time and effort into the most profitable lead channels for home improvement contractors. According to our partner improveit 360, those are:
- Internet – 22% leads turned into sales
- Referral – 21% leads turned into sales
- Television – 14% leads turned into sales
That doesn’t mean you have to throw all your eggs into those three baskets. In the first few months of 2020, you should try your hand at new lead channels. That way, when the inevitable slowdown arrives, you won’t have to gamble on new lead generation strategies.
Sales Strategies in 2020
Once a lead lands in your queue, time is ticking. This alone will be crystal clear in 2020.
Customer communication will take the driver’s seat this year, which means you’ll have to find the best ways to respond to and interact with homeowners.
Don’t lessen the value of an excellent lead with a weak sales process. Make sure you are prioritizing your highest-performing lead sources when handing leads off to your sales team. Log it all and track it in a CRM.
In-House Processes in 2020
While demand is still strong now, you need to be prepared for flat performance in the second half of 2020. That means you have to get your house in order now. That means:
- Creating a fantastic customer experience
- Invest in your staff, especially if they have PPC knowledge
- Refine your referral strategy
Above all else, you need a CRM that gives you the data you need to need to measure your leads. If you don’t have that, we can help with recommendations.
Start 2020 in High Gear
Now is not the time to slow down. For these first few months of 2020, you need to make the most out of 2019’s market momentum. If it does level out, you will have a tried-and-true strategy for selecting the best lead sources and turning them into faithful customers.