What Are These Numbers Saying??

 
Thread Tools Search this Thread Display Modes
Old 02-03-2018, 01:16 PM   #1
New Guy
 
VinnyE's Avatar
 
Trade: Asphalt Paving & Excavating
Join Date: Jan 2017
Location: Stamford, Connecticut
Posts: 20
Rewards Points: 50

What Are These Numbers Saying??


On occasion we will run out at the end of a season to get a flavor for how many folks bought projects regardless if they bought from us or someone else. We started doing this as a means of knowing who we may want to re-market to and see if we can pull back a non buyer..

We'd take all unsold quotes, map them on a free routing software, split up the areas grouping by zip code, and send our salesman and marketing manager to go have a look and see what got done from all our unsold leads..

Unfortunately, for the express intent of re-marketing the exercise didn't yield an adequate return so for a number of years we didn't do this. Though this past end of 2017 season was one of the years I opted to do do it again.. not so much for re-marketing but I just wanted to see what the market was doing.. I mean I think as business owners we have a gut feeling but I wanted to know actual numbers..

Historically even in really good times (2005, 2006, 2007) it was averaging around 50%. So I mean we were simply taking say..500 unsold jobs, driving by to see if they had anyone do it..and it was around 250 jobs actually getting done of that 500..

This winter in looking at the unsold jobs it came to light 60% were done. That being: of the 420 residential fresh leads coming in that we had opportunity to run, 250 got done and 170 did not.. Of that 250 jobs we put in 110 leaving 140 that were installed by our competitors.. That means of the actual buying consumers in the past season, we sold 44% of all sold jobs in the market space of buyers..

Knowing that in our re-marketing efforts 1 or 2 will buy in the 2018 season (us or someone else).. Essentially this says there's a substantial number of non buyers.. Folks who did not buy a project from anyone regardless of price..it simply is not getting done..

So I'm wondering do the number simply say get more leads and run them to grab my 44%?? Or are we wasting a butt load of effort on tire kickers?? Or do we need to be harder on pre-qualification?? Or am I just doing really great and should i start planning my retirement??
VinnyE is offline  

Warning: The topics covered on this site include activities in which there exists the potential for serious injury or death. ContractorTalk.com DOES NOT guarantee the accuracy or completeness of any information contained on this site. Always use proper safety precaution and reference reliable outside sources before attempting any construction or remodeling task!

   

Advertisement

 

Old 02-03-2018, 07:29 PM   #2
Pro
 
KAP's Avatar
 
Trade: Custom
Join Date: Feb 2011
Posts: 8,603
Rewards Points: 24,354

Re: What Are These Numbers Saying??


Quote:
Originally Posted by VinnyE View Post
So I'm wondering do the number simply say get more leads and run them to grab my 44%?? Or are we wasting a butt load of effort on tire kickers?? Or do we need to be harder on pre-qualification?? Or am I just doing really great and should i start planning my retirement??
Yes...

Advertisement

KAP is offline  
Old 02-04-2018, 01:57 AM   #3
GC/carpenter
 
Californiadecks's Avatar
 
Trade: Decking, Railing, Carpenter/General Contractor
Join Date: Nov 2011
Location: Anaheim Hills, California (OC)
Posts: 31,126
Rewards Points: 3,564

Re: What Are These Numbers Saying??


Quote:
Originally Posted by VinnyE View Post
On occasion we will run out at the end of a season to get a flavor for how many folks bought projects regardless if they bought from us or someone else. We started doing this as a means of knowing who we may want to re-market to and see if we can pull back a non buyer..



We'd take all unsold quotes, map them on a free routing software, split up the areas grouping by zip code, and send our salesman and marketing manager to go have a look and see what got done from all our unsold leads..



Unfortunately, for the express intent of re-marketing the exercise didn't yield an adequate return so for a number of years we didn't do this. Though this past end of 2017 season was one of the years I opted to do do it again.. not so much for re-marketing but I just wanted to see what the market was doing.. I mean I think as business owners we have a gut feeling but I wanted to know actual numbers..



Historically even in really good times (2005, 2006, 2007) it was averaging around 50%. So I mean we were simply taking say..500 unsold jobs, driving by to see if they had anyone do it..and it was around 250 jobs actually getting done of that 500..



This winter in looking at the unsold jobs it came to light 60% were done. That being: of the 420 residential fresh leads coming in that we had opportunity to run, 250 got done and 170 did not.. Of that 250 jobs we put in 110 leaving 140 that were installed by our competitors.. That means of the actual buying consumers in the past season, we sold 44% of all sold jobs in the market space of buyers..



Knowing that in our re-marketing efforts 1 or 2 will buy in the 2018 season (us or someone else).. Essentially this says there's a substantial number of non buyers.. Folks who did not buy a project from anyone regardless of price..it simply is not getting done..



So I'm wondering do the number simply say get more leads and run them to grab my 44%?? Or are we wasting a butt load of effort on tire kickers?? Or do we need to be harder on pre-qualification?? Or am I just doing really great and should i start planning my retirement??


I'm all for retirement. That's got my vote.


Mike.
_______________
Californiadecks is offline  


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Flip Houses: The Numbers Involved DiamondHouse Business 30 01-04-2016 07:23 AM
Lets talk numbers lshomesolutions Business 71 01-01-2014 06:25 PM
Weird wiring numbers on a ceiling fan? DemRem Electrical 15 04-17-2013 02:34 AM
Do you give part numbers to other contractors and customers? rtztgue Business 5 02-12-2013 07:39 PM
How many of you Post your sales numbers? rtztgue Marketing & Sales 3 01-03-2012 12:53 PM

Join Now... It's Fast and FREE!

I am a professional contractor
I am a DIY Homeowner
Drywall Talk is for
PROFESSIONAL CONTRACTORS ONLY!

At DrywallTalk.com we cater exlusivly to professional contractors who make their living as a contractor. Knowing that many homeowners and DIYers are looking for a community to call home, we've created www.DIYChatroom.com DIY Chatroom is full of helpful advices and perfect for DIY homeowners.

Redirecing in 10 seconds
No Thanks
terms of service

Already Have an Account?