Google is by far the best quality of customer. If they’re typing in “best lawn service near me” and we’re number 1 in our area, they know we aren’t cheap. That weeds out most low-ballers.
This is great, so clearly laid out but there's a big missing layer I'd like to add: Any of these channels can generate better or worse profit ROIs depending on their CREATIVE within each platform (meaning the words and images in the ad/flyer/website/etc). So without being able to track your marketing back to the specific creative, not just the channel, you won't be able to optimize. The key is to have a system that can track the effectiveness of each ad within each platform. Then you can really gear things down.
Good morning Mike. Glad I found your channel, hard to find channels with larger businesses on here. I run a small company in Chicago burbs about 600 lawns a week with about 8 employees, it's been so hard to find quality team members these days. Keep up the good work!
I would be under the persuasion that long term customers are better, but using your hypothetical numbers, couldn’t it be argued that a 4x return over 2 years is better than 8x return over 6 years?
I somewhat disagree with looking beyond the CAC. I think once somebody becomes a paying customer, they should be handed over to customer service and it’s their job to make them customers for life. I don’t think the marketing source has anything to really do with retention year after year.
I don't believe customers that come from google, facebook, or direct mail have substantially different customer retention rates. If you are seeing this in your data it is likely because of small sample size.
I am trying to open my lawn care business and saving money for it what would you recommend for me to get it up and running I'm working my living ass off.
Awesome video Mike! Do you have a recommendation for software that would track something like this, and maybe integrate with Jobber? I've done the calculations in a spreadsheet for the last few years, but now we are growing and it is difficult to calculate something like LTV based on acquisition source for 100+ accounts.
If you are going to do B2B and you know what customer type of business you want to target you can get mailing lists thru print marketing companies like Allegra etc. That's what I am doing right now.Example you can target property management companies only there may be 100 in your area on a mailing list.
Mike, I would really like to know what your IQ is. Must be through the roof. Also, I’m addicted to your videos. The more I watch, the more I want to watch. I WILL be a franchisee one day.
The best landscaping business videos on the Internet! And so little likes and comments!!!? Really appreciate you Mike.
When I found out that yardbook has the customers yearly value I was stoked!!
Google is by far the best quality of customer. If they’re typing in “best lawn service near me” and we’re number 1 in our area, they know we aren’t cheap. That weeds out most low-ballers.
Lol. This seems like a question I asked yesterday. This is good stuff
This is great, so clearly laid out but there's a big missing layer I'd like to add:
Any of these channels can generate better or worse profit ROIs depending on their CREATIVE within each platform (meaning the words and images in the ad/flyer/website/etc).
So without being able to track your marketing back to the specific creative, not just the channel, you won't be able to optimize.
The key is to have a system that can track the effectiveness of each ad within each platform. Then you can really gear things down.
This is gold. 🎁
Good morning Mike. Glad I found your channel, hard to find channels with larger businesses on here. I run a small company in Chicago burbs about 600 lawns a week with about 8 employees, it's been so hard to find quality team members these days. Keep up the good work!
Where are you. I am in the Chicago area as well.
I would be under the persuasion that long term customers are better, but using your hypothetical numbers, couldn’t it be argued that a 4x return over 2 years is better than 8x return over 6 years?
I somewhat disagree with looking beyond the CAC. I think once somebody becomes a paying customer, they should be handed over to customer service and it’s their job to make them customers for life. I don’t think the marketing source has anything to really do with retention year after year.
Good idea to track your attrition for each marketing channel 👍🏻
I don't believe customers that come from google, facebook, or direct mail have substantially different customer retention rates. If you are seeing this in your data it is likely because of small sample size.
I am trying to open my lawn care business and saving money for it what would you recommend for me to get it up and running I'm working my living ass off.
Awesome video Mike! Do you have a recommendation for software that would track something like this, and maybe integrate with Jobber? I've done the calculations in a spreadsheet for the last few years, but now we are growing and it is difficult to calculate something like LTV based on acquisition source for 100+ accounts.
Hey Mike! What website do you recommend to obtain a mailing list?
I don’t recommend buying one. Just accumulating your own over time in your database
If you are going to do B2B and you know what customer type of business you want to target you can get mailing lists thru print marketing companies like Allegra etc. That's what I am doing right now.Example you can target property management companies only there may be 100 in your area on a mailing list.
Mike, I would really like to know what your IQ is. Must be through the roof. Also, I’m addicted to your videos. The more I watch, the more I want to watch. I WILL be a franchisee one day.