Nowadays, every company is obsessed with gathering as much data as they possibly can. Sadly, many don’t know what do with that data once they accumulate it. In the lead generation business, the data you that your CRM system collects is vital in judging the success of your business and lead generation service. Below are five vital reports that all contractors need to track on a weekly basis in order to better judge the success of their business and lead generation service.
Note: All five stats are now part of CraftJack’s weekly performance emails.
1. Previous Referrals
If you are using your lead generation service to the fullest, then you should be receiving multiple referrals each week. As those referrals start to pile up, it can be tough to track and manage each one. Oftentimes, you don’t have the time or wherewithal to contact each referral right away. Therefore, it is imperative that you or your lead generation service tracks your previous leads to give you every opportunity to follow up.
2. Average Call Speed
The best way to close more jobs using a lead generation service is by calling your referrals quickly. Therefore, average call speed is perhaps the most important stat to track each and every week. If there is one number to focus on, average call speed is it. It has been proven, by our data and more, that both persistence and speed are key to winning more jobs.
Contractors using the CraftJack Lead Manager can see their average call speed in their weekly performance emails under the “Your Stats Last Week” section.
3. Average Number of Calls Placed
Homeowners are busy and they may not answer or return your phone call after the first try. In fact, according to data from MarketSharp, HomeAdvisor, and CraftJack, 80% of leads do not close on the first call. That means that four out of every five referrals will not get closed with one call. As I said above, persistence is key in the lead generation business. While it may seem like you are bothering them with more than one call, it is a must in our industry. In fact, making two calls instead of one increases the chances of contact by 87%.
Try to make it a goal to call every lead at least three times (if they don’t answer). Like all of these stats, try to improve this number each week. After all, with the weekly performance emails, your average number of calls will be easy to track each week, month and year.
4. Amount Spent
While we would all like to receive hundreds of leads each week, oftentimes, the financial burden is too much. You have to know when to limit your monthly budget and tracking your weekly and monthly spend is the only way to do so.
Tracking your payables is essential in the lead management business. If you don’t have a constantly updated return on investment (ROI), you will never know if the system is working. Therefore, all contractors need to constantly track their amount spent to ensure you are generating the greatest possible ROI.
5. Jobs Won
The other side of the ROI formula is money coming in. You use CraftJack or another lead generation service to help you generate business. The only way to see how well that service is working is by tracking the number of jobs won.
This is the end all, be all statistic you should care about. After all, it is the one number that correlates to cash in your bank account. Above all else, if you are not closing more jobs by using a lead generation service, it may be time to switch it up.
Data is only good if you analyze and use it to your benefit. Contractors should always work on decreasing their average call speed, increasing your number of calls and of course, growing your bottom line. The only way to do all three is by tracking each statistic on a daily, weekly and monthly basis.
What stats do you track each week? Let us know below!