Turning Calls into Sales
Just a few years ago it was common in the home improvement industry for closing ratios to be in the 50% range. Meaning that for every 2 calls your company received you sold one job. Fast forward to today's economy and that closing ratio has dropped drastically. In fact, in most cases it's likely to be somewhere in the 10% – 15% range. Quite a drop!
At TheHomeMag, our key objective is getting our advertisers' phones to ring, so it's natural that we maintain a keen interest in the closing ratios of different companies within our industry. Our large and diversified client base means we have the opportunity to talk with many advertisers. In doing so, it has become clear to us that some companies really excel at closing deals, while others constantly seem to struggle.
Provided you find yourself struggling, the good news is that you can improve your closing ratios if you are prepared to make changes to the way you do business. Don't just settle for being average; even a small improvement in your closing ratios could mean a significant improvement in your overall revenue and profits.
The change most companies immediately implement when trying to improve their closing ratios is price. They feel that if they offer a cheaper price, people will buy from them instead of their competition. In some cases this is true, but not always.
Offering a lower price is often the easier way out, but it's highly unlikely that going this route will make you successful or rich, and it may damage your brand or company image. Just by thinking through what consumers really want (trust, good service, value for their money) and then delivering this to them better than anyone else, you can improve your closing ratios and you won't have to take the unnecessary action of dropping your prices.
If you would like to learn how to increase your closing ratios, then download our free ebook “Insiders Secrets:Turning Calls into Sales.”” It's a short easy to read guide that teaches you what you need to know. Visit our online resource center at www.THMToolBox.com, signup or log in and gain FREE access to this valuable information.
How To Increase Closing Ratios
Just a few years ago it was common in the home improvement industry for closing ratios to be in the 50% range. Meaning that for every 2 calls your company received you sold one job. Fast forward to today’s economy and that closing ratio has dropped drastically. In fact, in most cases it’s likely to be somewhere in the 10% – 15% range. Quite a drop!
At TheHomeMag, our key objective is getting our advertisers’ phones to ring, so it’s natural that we maintain a keen interest in the closing ratios of different companies within our industry. Our large and diversified client base means we have the opportunity to talk with many advertisers. In doing so, it has become clear to us that some companies really excel at closing deals, while others constantly seem to struggle.
Provided you find yourself struggling, the good news is that you can improve your closing ratios if you are prepared to make changes to the way you do business. Don’t just settle for being average; even a small improvement in your closing ratios could mean a significant improvement in your overall revenue and profits.
The change most companies immediately implement when trying to improve their closing ratios is price. They feel that if they offer a cheaper price, people will buy from them instead of their competition. In some cases this is true, but not always.
Offering a lower price is often the easier way out, but it’s highly unlikely that going this route will make you successful or rich, and it may damage your brand or company image. Just by thinking through what consumers really want (trust, good service, value for their money) and then delivering this to them better than anyone else, you can improve your closing ratios and you won’t have to take the unnecessary action of dropping your prices.
If you would like to learn how to increase your closing ratios, then download our free ebook “Insiders Secrets: How To Increase Closing Ratios. It’s a short easy to read guide that teaches you what you need to know. Visit our online resource center – eBooks