The Opportunity Cost of Not Having a Social Media Strategy
Today I want to talk to you about the opportunity cost of not having a social media strategy for your home services business.
When I say “opportunity cost” I mean how much money you are losing every month and every year, simply by not having a presence on Facebook, Instagram, etc.
1. Missing Out on High-end customers.
When you don’t have a social media presence and strategy, you miss out on high-end customers. In other words, customers who are not simply looking for the cheapest plumber, or the lowest bid on a landscaping project. Those kinds of customers are absolutely going to check your social media for reviews, pictures of your work, how you respond to comments, etc. They’re going to do this before they ever call you. If you don’t have a Facebook page in 2018, they’re just not going to call you. This may sound harsh, but it’s the truth. The high-end customer wants to make sure that if they’re going to spend thousands of dollars, they’re going to do it with a business they trust; and they decide whether or not they trust you by what they see on your social media.
2. Missing Out on Reviews.
If you don’t have an online strategy, you’re not building reviews. Again, people who are looking for a quality contractor are absolutely going to check reviews. If you don’t have a Facebook page and you’re not optimizing your website for Google, you’re not going to get many reviews. The more reviews of people you have showing how awesome you are, the more higher-end customers you’re going to attract.
3. Missing Out on Repeat Customers.
This is huge. If you don’t have a social media strategy you are losing money every month, every year, by not getting repeat customers. Repeat customers are the key to a thriving business! Let’s say you’re a plumber and you fix someone’s faucet or toilet. You have a great opportunity to get them to like your Facebook page or join your email list. Then you can re-market to them later for a tankless water heater, or other services that you may offer. Repeat customers are huge for your business! Any time you get a new customer, encourage them to like your Facebook page so that they can get the tips and valuable information you’re always sharing there. Encourage them to subscribe to your blog and get your emails. Down the road, they’re going to need a plumber again, and instead of them Googling or asking NextDoor to help them find a contractor, they’re going to remember you because you’ve been consistently keeping your name in front of them all year long.
These are three big areas where home contractors are losing money every single day simply because they don’t have a social media strategy.
If this spoke to you, and if you’re tired of losing money because you have no social media strategy, give me a call! I’d love to sit down with you briefly and learn more about your business and see how we can help you stop losing money and instead grow your business by attracting higher-end customers!