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3 Reasons to Calculate ROI on Cost per Job in Lead Generation

Lead generation is now a normal part of marketing and advertising for companies in skilled trades, whether they are small local businesses or national companies. It’s a great way to keep your schedule topped up and grow your customer base.

Since you can join Quotatis on a price-per-enquiry basis as well as on a fixed weekly fee, it can be easy to fall into the trap of assessing your earnings on a cost-per-enquiry basis instead of cost per job. But why do we recommend calculating your earnings from Quotatis on a cost per job basis?

Think of how you treat traditional forms of advertising

calculating roi on cost per job

If you’ve never used advertising in a local newspaper, you probably know someone who has. It can cost anything from £40 for one 35-word advert in a local newspaper for just one week. Let’s assume that your local newspaper has a circulation of 40,000. A lot of those readers will pop it straight in the recycling without even looking at the news, let alone the classified ads. In a week, you may get a call (not a job) from one person looking for a quote. So you wouldn’t ask for a refund for the 39,999 people that didn’t call you, would you?

To see whether newspaper advertising is profitable for your business, you would need to find out how many jobs you got from customers that called you after seeing your ad. You need to do the same for lead generation. And working the leads you receive to the best of your ability is the best way to maximise your ROI.

Call your prospects straight away

The moment you pick or receive an enquiry, call the customer. That’s a given. Set up an appointment to give them a fully-costed quote for their project, and follow up before and after you give the quote if you need to. Ensure that you don’t pester them though – it might be best to text or email.

Don’t immediately write off customers you can’t quote for

Sometimes, no matter how quickly you call a customer, they will say they’ve got enough quotes. But don’t just hang up and forget about the customer. Let them know that you’re happy to take any questions they may have in the future. You could even offer to review a quote from another contractor to help check its accuracy – all of these things show that you’re friendly and willing to help.

Follow up with your prospects

Even if you didn’t win the work or even get a quote, set a calendar reminder on your phone or make a note in your diary to follow up with the customer a couple of months down the line. Ensure that they got everything they needed form another company and let them know you’re there to help if they need anything else.

You could still end up with the job!

We spoke to a contractor that follows a similar procedure to the one we’ve described and calculates his earnings using cost per job. He told us that one of the customers he received from us didn’t choose him to do some tree surgery work initially, but went with someone they found through their own searches. However, they weren’t happy with the work this contractor completed, so they asked him to come and correct the mistakes.

Then, like a snowball effect, the contractor found that he got more work from this customer. They called him back to do some more work, and then they recommended him to a friend. All in all, he got 3 jobs and charged a total of £550 for those jobs. He pays £90 per week to be on our Smart Local service, where he can expect to get 5-10 leads per week. We’d say that’s a pretty good return on investment.

So it looks like enquiries you get through lead generation can be with holding onto, even if your leads and you may find even old leads become fruitful. Just come up with a process that works for you.

It shows why you should look at cost per job rather than cost-per-enquiry, as you can win multiple jobs from one enquiry. Take stock of the money you’ve made from your Quotatis leads and you should find that it’s a great form of advertising.

Need some help with your account? Give customer services a call on 0203 514 4085.

 

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Emily Rivers

Emily Rivers is the Customer Experience Manager at Quotatis. She informs customers of the latest developments in a range of products so they can make the best choice for their homes and ensures they get the best out of our service.

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