It’s been a strong couple of years for the home improvement and home services industry. Leads have been plentiful, close rates are strong and homeowners have been more than willing to spend money improving and beautifying their places of residence.
However, things are starting to change. When I travel the country visiting our clients I have started to hear that consistently. Leads are getting scarce. Customers are unwilling to commit. Competition has increased their pressure. What was easy, is once again hard.
This should be of no surprise to anyone who’s been in this business for more than the past two years. Home improvement and home services companies always are riding the boom and bust tide. But you don’t have to start discounting your jobs, giving away valuable profits or firing your sales team. It’s time to get smart about your offers and try something different.
Most of our clients use vacation vouchers to close deals and cut down on cancellations. Homeowners love the added value, and our clients don’t have to rely on deep discounts. Especially now, as travel costs have increased, the lure of a vacation included in the price of the job is especially appealing.
Some of our smartest clients use the Vouchers in a different way though – to generate fresh leads. Positioning the vacation front and center can be a powerful lure to drive calls. Instead of competing with a discount or a BOGO offer, a “Complimentary Vacation with Purchase” lets you keep your price strong and differentiates you from everyone else out there.
We’ve seen this strategy work well across TV, radio, direct mail — you name it. Specifically now because, so many people have had to give up their vacation over the last couple years. In addition to that, with inflation through the roof, people are now having to give the up their vacation again to pay for essentials instead. They appreciate this benefit so much more than you know – trust me, I see it in the 5-star google reviews we get every single day.
So if you can leverage the vacation voucher as a call to action in your marketing in your next marketing campaign, you will have massive leverage over your competitors. (By the way, we’re also seeing a huge uptick in using vouchers for referrals, but that’s a whole other topic!)