What do you consider a good ROI?

[Becker]

For any marketing effort what is your desired ROI?
What number would make you expand the effort or continue?
What number would you abandon the campaign?

I'm not talking about long term ROI, but from the marketing directly.
Not taking into account repeats and referrals.

 

[tmdry]

For any marketing effort what is your desired ROI?
8-10 to 1
What number would make you expand the effort or continue?
5+ to 1
What number would you abandon the campaign?
0-4 to 1

This will depend on the cost of the marketing campaign and the ticket price offcourse. Assuming it's carpet cleaning.

 

[daniel@procarpet]

2-1

 

[Becker]

For any marketing effort what is your desired ROI?
8-10 to 1
What number would make you expand the effort or continue?
5+ to 1
What number would you abandon the campaign?
0-4 to 1

This will depend on the cost of the marketing campaign and the ticket price offcourse. Assuming it's carpet cleaning.

Wow those are much higher ROI than I expected.

So spend $1.00 get $10.00 back, or to expand and continue $5.00 back on every $1.00 spent.

Anything less than 4-1 you would quit it.

What methods of marketing are you engaged in that are producing 5 plus return?

Mine at the moment is internet, my referral program, those that see my van.

 

[joey895]

If I could hit 8-1 or 10-1 id have a party every night.

I'm tickled with 3-1 and up and I'll continue doing anything that gets 2-1.

Sent from my ADR6300 using Tapatalk

 

[BLewis]

I to will keep a medium price campaign going on 2/3 to 1. Prefer about 4-1. My most sucessful is BNI about 10-1. The last 2-3 weeks I have been turning in 3-5 Thank You for Close Business. As a matter of fact my little tiny group of 12 has referred me 68 times, probably turned into 40 actual jobs in the past YTD. I have only passed about 20 so I have to get my butt into gear of "Giving"

 

[Royal Man]

For BNI do you also include time in the ROI? It must cost $100 in time for each meeting.

For some marketing ROI can be incredible. Such as with the internet and referral group marketing.

The ROI can be 200-1 or even much better.

Then with warm mail to previous clients can be 3-1.

Or cold direct mail. You are often lucky to break even.

Choose your media and recipient wisely.

 

[Becker]

For BNI do you also include time in the ROI? It must cost $100 in time for each meeting.

For some marketing ROI can be incredible. Such as with the internet and referral group marketing.

The ROI can be 200-1 or even much better.

Then with warm mail to previous clients can be 3-1.

Or cold direct mail. You are often lucky to break even.

Choose your media and recipient wisely.

I agree, my ROI on internet is crazy high!
I invest little into my referral program, so it is pretty sweet.

I've always done better than break even on direct mail campaigns.


I'm implementing some new programs, looking for a 3-1 return.
I might be happy with 2-1 if I can milk the client for referrals, or added services.

 

[Jim Williams]

The only paid advertising I would ever consider doing again is postcards where I usually got a 5:1 return. The internet blows that out of the water though. For $12.95 a month I get more work than I can handle. Even if you have to do pay per click you can still get a very high return.

Any less than 3:1 return on anything and I would probably not do it again.

 

[tmdry]

For any marketing effort what is your desired ROI?
8-10 to 1
What number would make you expand the effort or continue?
5+ to 1
What number would you abandon the campaign?
0-4 to 1

This will depend on the cost of the marketing campaign and the ticket price offcourse. Assuming it's carpet cleaning.

Wow those are much higher ROI than I expected.

So spend $1.00 get $10.00 back, or to expand and continue $5.00 back on every $1.00 spent.

Correct

Anything less than 4-1 you would quit it.

Correct.

What methods of marketing are you engaged in that are producing 5 plus return?

If I told you, I'd have to kill ya... :roll: 8)

Mine at the moment is internet, my referral program, those that see my van.

 

[Becker]

My guess is if you can not figure out how to use the quote correctly you can not figure out ROI math properly.

When is your marketing program coming out?

You won't a have to kill anyone here, as they would kill to learn those secrets for 8-10 short term returns.

Internet does that for the mast part, but only because the investment for so many is so little.
At least right now it is for the seo savy, or the places depended folks if you market is places friendly.

 

[Becker]

Bill, do you consider Angieslist internet?

 

[NobleCarpetCleaners]

I'm getting 890% ROI on my "fill my schedule" with Service Monster. I'll easily be over 1000% in a few months. Seriously, is that good ROI?

 

[ACE]

I am done buying customers :shock:

I am booked two weeks out. The bulk of my new customers are refferals. Just do a great job and charge a fair price. It;s that simple.

 

[Ken Snow]

Bet 10-13 to 1

 

[mirf]

Depends on the season for me. In the winter I would take 3 -1 easy. This is not true before the holidays more like 10 -1.
Also some local things that I do are just to give back to the community and keep my name out there.

 

[tmdry]

My guess is if you can not figure out how to use the quote correctly you can not figure out ROI math properly.

20 years in the trade and you're still trying to figure out your ROI on marketing campaigns? If you want help, don't try to bash people if you haven't figured out what may or may not work for you. The best thing to do is "listen".

There's no secret or crystal ball, I work day & night on marketing, have over 23 different campaigns (Angie's List is one of them as well), tracking, phone #'s, the whole nine yards. With any roi you need to stick with it for at least 3 months or 3 mailings before deciding if it was a good investment or not.

"Just do a great job and charge a fair price. It's that simple."

Possibly, could depend on the area/demographics, and if you've been in business for at least 5-10 years it sure starts to kick in. For the average business owner with 1-4 years in business, referrals aren't the top of the crop right away just from doing great work. I'd say that 99% of people that actually come to a message board do great work and charge a fair price.

 

[Royal Man]

I'm getting 890% ROI on my "fill my schedule" with Service Monster. I'll easily be over 1000% in a few months. Seriously, is that good ROI?

So, you are saying that every single client that recieves a send out card gets over $1500 in work done?

Must be quite a card.

 

[Ken Snow]

I'm getting 890% ROI on my "fill my schedule" with Service Monster. I'll easily be over 1000% in a few months. Seriously, is that good ROI?

So, you are saying that every single client that recieves a send out card gets over $1500 in work done?

Must be quite a card.

Dave~ 890% is basically 9 to 1, or technically 8.9 to 1. Just sounds bigger when using a % rather than a ratio.

 

[XTREME1]

Bill Martins

"Just do a great job and charge a fair price. It's that simple."

that is my marketing campaign

 

[XTREME1]

and the secret weapon

 

[Becker]

Wow bill. You sound like you work overtime on marketing.

How man vans you have on the road?

 

[chrissalter]

Wow bill. You sound like you work overtime on marketing.

How man vans you have on the road?

So what are you saying you have to have multiple trucks on the road to be successful at marketing?

 

[Becker]

Wow bill. You sound like you work overtime on marketing.

How man vans you have on the road?

So what are you saying you have to have multiple trucks on the road to be successful at marketing?

There's no secret or crystal ball, I work day & night on marketing, have over 23 different campaigns (Angie's List is one of them as well), tracking, phone #'s, the whole nine yards. With any roi you need to stick with it for at least 3 months or 3 mailings before deciding if it was a good investment or not.

I just figure if a guy is working day and night on marketing 23 different campaigns he must sell a hell of a lot of jobs.

I'll do over 750 jobs this year easy, and I spend so little time marketing. Much of the reason I'm still only one van per location.
So far in 2011 nearly 18.5% of all new business is via Google searches. Not a huge amount of time spent on seo. I could spend more time on this and besides referals with the amount of time I have into my webpage and seo along with host fess etc. ROI is crazy huge!
33% referrals, my program there is leaving referral reward cards behind. I know I could work this avenue a bit more.
14% comes from a free source. can't even put a ROI on it as it was completely free, and no way to expand it.
Biggest source is a monthly mailer, but the ROI is far to low anymore to continue.
I'd be better off mailing directly to past clients for the repeat work. The ROI on mailings to past clients is always huge, but I was looking for ROI in marketing for new clients.

I'm about to launch a new product.
I'm expecting 5 or 4-1 return. ( new blood )
I will expand it with a min of 3 or 2.5-1 return with tweaks, but will drop it after a period of time testing if it fail the min return.

 

[tmdry]

What I do is basic marketing, to me at least. I don't lose sleep over it, it's just part of running a business. Knocking on doors is really not my thing, if I were to do that and other "meet and greet" type of marketing, my campaigns would probably be double. I track 23 more or less, that does not mean they all have a great roi, I just enjoy keeping track of things and knowing they're working, I don't just assume they are.

My service monster says 907%, or 9 to 1 total.

Greg, I'm happy that all you do is charge a fair price and do a great job. You better go back and delete all your threads about your sites, seo w/ Fred, and all the other threads on the other types of marketing you do/did. :roll: That's "considered" a marketing lead source/campaign. :idea:

 

[Becker]

Service monster is that past clients or new?

Getting clients to spend again always has great returns.

I was more interested in adding a new name to the client list.

 

[XTREME1]

Go back and look Bill I didn't advertise forever but now with 3 trucks on the road I didn't want to get caught with my pants down like this past winter.
I tried Brian for a few months, did a little test on newspaper ads and now I am back to what I do Great work at a fair price with FCC. I don't need to track schit because we don't waste our money on advertising.

We had our largest week ever last week but next week may top it and we oh it all to 1 commercial carpet sales company


and I did say the secret weapon Bill. If you don;t have fred handling your internet business, you got no internet business

 

[chrissalter]

who is Fred?

 

[tmdry]

and I did say the secret weapon Bill. If you don;t have fred handling your internet business, you got no internet business

Greg,
Fred and I been talking long before you posted your 1st site/thread regarding FCC. He's not the only guy I've delt with, there have been quite a few, internet marketing is nothing new to me. I'll agree that Fred is very knowledgeable and I'm glad him and I are doing business together.

 

[XTREME1]

you won't agree he is the best? I am not sure what your point is?