How Wasteful Ad Spending Can Hurt Your Home Services Business
Home Services providers are part of an industry nearing $174 Billion in value, and yet over 150,000 of them close every year. In order to over come this trend, smart spending is key to making your business last. In fact, home service businesses that make it to year 6 have a 75% chance of surviving 10+ years.
So, what are the biggest ways that home services businesses waste advertising money?
Not evaluating their target customers
It needs to be said that not every customer is a good customer. This is especially true for home service businesses where pricing is largely the main deciding factor. If your customers are consistently looking for maximum discounts and profit margins aren't making sense, it's probably a good idea to try a different target audience in your ads.
Taking the competition for granted
This is especially true for newer companies that are trying to make a name for themselves or ones who are opening a new service line. Spending money to make money especially against a heavily entrenched competitor is likely a losing proposition. Instead, targeting niches and evaluating ways to exploit existing weaknesses of competitors should be focused on in creating and running your ads.
Not understanding the best way to reach customers
Are they on Facebook, Twitter, YouTube or somewhere else? Some research here and understanding where new business is coming from will help show what platforms to target and how much you should be spending to reach them. There won't be a one-size fits all solution, so planning on where your spending goes is more important than how much is being spend at the beginning.
If you're looking for more answers on how to get your ad budget working for you instead of against you, we'd love to chat! For more information on PPC, check out this resource.