Rule #2 of a Profitable Moving Company is “Don’t depend on any single source of marketing”. It’s very easy to become complacent and comfortable when you have a great marketing source. Whether it’s your website’s search engine ranking or a direct mail campaign, there is always a possibility it could stop producing the way it does now.
Here are some things you can do to diversify your marketing.
1. Get your marketing report on point – Once you have a good understanding of which sources are working and which ones are not, you will feel confident to test out new ones. By working, I mean profitable. You don’t want moves at any cost, you want profitable moves. By reviewing your Marketing ROI Report you will have the clarity you need to make a decision.
2. Test out new marketing sources – Now that you have good reporting you will be able to test out new sources with confidence. There are so many sources out there that you should try. Are there any that you have been thinking about trying? If so, give them a shot. If you need some ideas on new sources to try out, check out the list of sources in Rule #2 of the 10 Rules of a Profitable Moving Company.
3. Increase the budget for profitable sources – Once you have tested out some new sources on a small scale you will know how they are doing. If your report shows that they are profitable, then increase the budget and spend more on that source if you can.
4. Cut off what isn’t profitable – When you spend too much money on marketing to acquire a move, you are losing money. You are better off taking the money you spend on these sources and using it to increase your budget for the profitable sources.
The main thing to remember is that all great marketing sources don’t last forever. Keep all the great sources that you have now. Ride the wave for as long as it lasts! Just be careful that you don’t put all your eggs in one basket. It’s better to keep what is working but not turn your back on new sources of business. Diversify your marketing.
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Full Transcript
[The following is the full transcript of this episode.]
Hey my friend, it’s Louis Massaro, author of 10 Rules of a Profitable Moving Company and founder of Moving Mastery. If you haven’t already downloaded 10 Rules of a Profitable Moving Company, head over to my website, louismassaro.com, I’m giving it away for free. And today we’re going over rule number two of a Profitable Moving Company. So whether you’re already profitable, whether you wanna become more profitable, these rules apply to everybody.
So rule number two is: Don’t depend on any single source of marketing. This is so so important. Again, the 10 rules, these are… Essentially somebody asked me as I was getting out of the business and they were getting in the business, “Hey, what advice can you give me?” And the 10 Rules of a Profitable Moving Company is essentially the email that I sent them. Like, “These are the 10 rules, these are the things that you need to make sure you do, consistently and that you’re always on top of.” There’s a lot more to running a successful moving company, but these things if you’re doing them consistently, will cover a lot of bases and make sure that you stay profitable.
So number two: Don’t depend on any single source of marketing, that’s big. For me, I was very, very, very heavily invested in the Yellow Pages, from the beginning of my career up until 2008, ’09, ’10 period. We were spending a lot of money in Yellow Pages, double full page ads in every city. And you know what? They stopped working as they used to. And it caused me to have to really scramble. You’ve heard my story, you know that I really dug deep and started to learn Internet marketing and all the different ways to market your business outside of the conventional Yellow Pages, direct mail, TV commercials, radio ads. I dove in and started to really figure out all the different ways. Not just buying leads, or doing pay-per-click, but everything. And the reason I’m telling you this and the reason that number two is: Don’t depend on any single source of marketing, is because I was really stuck in a bad spot because I had so much of my… I had all my eggs in one basket, if you will, with advertising with the Yellow Pages.
And today it’s still relevant, because I know people that have all their eggs in their website or all their eggs in their direct mail campaign. It’s great when you have a marketing source that’s on fire, and it’s working, and it’s profitable, and it’s bringing in a lot of business, and it’s profitable business, that’s awesome. But you don’t want to turn your back to everything else and just count on that because things change. And website algorithms change, Google changes their algorithms and you may have a website that’s ranked high in SEO, and then all of a sudden Google makes a change and it drops. You’re counting that for all your business, you’re gonna be in a bad spot. So, diversify your marketing.
In rule number one, we talked about know your numbers, we talked about the marketing ROI report. Once you have a marketing ROI report and you know the profitability of all your lead sources and all your different forms of marketing, it’s very easy to try new sources. That’s what prevents us from going in and trying something else. We hear about this new source of… And nowadays, seems like every other day there’s some new type of marketing that’s coming out. And we wanna stick with what we know. But in this day and age things are changing so rapidly you can’t stick with what you know. I tried to stick with what I knew back in 2008, ’09 period, and you know what, it dried up. Yeah, the phone still rang but it wasn’t paying the cost of the Yellow Pages, that’s for sure. I don’t wanna see that happen to you.
And nowadays it’s actually a really good thing that there are so many forms of marketing. You could really take advantage of that if you know your numbers, and you have your marketing ROI report. And then you start testing out different sources. Something comes along, you might as well try it. Don’t sign some big long, year contract if you could do a month-to-month and buy a certain amount of leads or a certain amount of ad space, or send out a few postcards, or emails or whatever it may be, try it. Then look at your report, see if it’s profitable, see if it’s working, and then you continue with it, and then you try something else.
So this is really important because it’s very, very, very easy to become complacent, or to become comfortable with a great marketing source. The people that are at the most risk, are the people that have something right now that’s working tremendously for them. Just the same way for me, I had 10-year run of the Yellow Pages just being the number one source of all of our business and the phone just rang off the hook and then all of a sudden, “Boom”, people stopped going to the Yellow Pages to look for services. Well, people aren’t gonna stop going online, but things online are so fragile. Your SEO efforts, your pay-per-click efforts, different lead sources. They depend on their SEO efforts and their pay-per-click efforts to get leads. Things change, so diversify your marketing, don’t depend on any single source of marketing.
And in the e-book, 10 Rules of a Profitable Moving Company, I went ahead and listed a bunch of different sources that you could try if you’re not already trying them. Try them, get your marketing report on point, try them, see if they’re working, see if they’re profitable. And don’t be afraid to have sources that might only bring you a couple of moves a month, because if you have 10 different small marketing sources that bring you two jobs apiece, that’s 20 jobs. And if they’re all profitable, why not, it’s worth it. So download 10 Rules of a Profitable Moving Company, take a look at the different sources if you’re not using any of them already, pick one, whichever one stands out to you, and try it, alright? I hope this was helpful, continue to profit in business, thrive in life. I’ll see you next time.