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Tag Archive for 'agency'

With Great Power…Comes Great Responsibility

In the beginning of their business, the entrepreneurial restorer is involved in all aspects of their company, from the operational side to the marketing of the business and everything in between.

As the business grows, their ability to continue this intense level of owner involvement becomes more and more difficult. As the company grows from Point B to Point C, the owner becomes faced with the responsibility and challenges that come along with the onslaught of complexities found in every growing business: the need for, the decision to, and the implementation of new processes, employees, strategies and more to get them to the next stage of the company’s growth.

In the article, “With Great Power, Comes Great Responsibility” by Business Development Associates’s President, Tim Miller, this subject will be discussed in more detail, including what not to do as the company grows.

Click here to read the full article, which appeared in the June 2013 edition of Cleanfax Magazine.

Business Development Associates, Inc. is a full-service marketing and sales agency specializing in the restoration and cleaning industries. We are helping restorers and other businesses grow their companies using proven and proprietary programs, systems and services that are generating millions in new business. If you’re a restorer looking to grow your business, visit us here to learn more or call us at 847-386-6556.

Insight Into The Customer Lifetime Value of Your Digital Customers

A recent study from marketing company Custora, who analyzes customer retention and acquisition, provided insight into the lifetime value of customers, based on the digital medium from which the customer came.

The study shows shows the varying Customer Lifetime Value of digital customers, with PPC (Pay Per Click), referral and even e-mail topping the list, beating out Facebook and Twitter in regards to obtaining a higher quality customer.

alt="Customer Lifetime Value Chart"

For customers seeking a product or service via the search engines directly (IE: Google) or click on ad specifically of what they are looking for, these results are easy to account for because those channels utilize the intent graph (the consumer is looking for something specific). Social media platforms like Facebook and Twitter will have to use their graph searches to redirect the customer to the product or service they seek.

Another result that came out of this study is that rural area customers tend to be more valuable and loyal over time, as their choices of vendors are more limited due to their living area. The Wyoming customer, for example, is 28% more valuable than the average American.

Tips for the Restoration Contractor:

While this study proves to have compelling information to help you see where valuable customers through digital efforts can come from, it’s important to incorporate a variety of digital and non-digital tactics to not only prospect for new business, but also, to make sure that they will be the kind of customer you want. The study makes a strong point for digital marketers to not put all their eggs in one or two baskets, in particular, Facebook and Twitter, who have made great strides to provide advertising, targeting tools and other strides in order to build a stronger (and more profitable) user community.

While SEO and PPC can bring in several to handfuls of leads a week, are you finding that those customers are jobs you are wanting to take on? Recently, we spoke with a prospective client who was receiving numerous leads a week through their PPC efforts, but 90% were the types of jobs they did not want, and thus, their return on investment was not what they had hoped for either.

On the flip side, we also have restoration contractor clients who see decent work come through their digital marketing efforts. But, it’s part of their overall marketing mix, and contributes as another source of business. As we mentioned before at the beginning of this blog…don’t put all your eggs in one (or two) baskets!

The most effective way to ensure a steady and predictable stream of work is to make sure that you not only have the right tactics in place (SEO, PPC, Direct Marketing Tactics, etc.), but also, the right sales reps in place and a dynamic way to hire, train, coach and manage them. Check out this article on “How Managing Your Salespeople is Different From Your Techs” to give you a flavor of what we are talking about.

And most of all, you’ve got to have a strategy as the foundation of your marketing plan, that supports the tactics and the sales force.

If you’re a restoration contractor looking to predictably grow your business, you should take a few minutes to visit us at www.gobda.com. While we’re not the perfect fit for everyone, we are a sales and marketing consulting agency helping restorers all over the country through proven and proprietary programs that help them to generate millions in new business. Now doesn’t that sound like an egg you want to have in your basket?

6 Concerns For Independent Agents in 2013

According to Future One’s Agency Universe Study, the independent insurance agency market has increased to 38,500. While the positive upswing is encouraging, and there is a vast market of consumers to service, independent agents must still assure survival of their individual company. Here are 6 things that these types of agencies should be aware of in 2013 in order to survive and thrive including:

Digital Marketers
While the internet expands every day (and every minute for that fact), it brings a new level of competition to the independent agent. Much like a restoration contractor’s overall strategy, the internet should be calculated into the marketing mix, but, it’s not the end-all be-all of tactics to gain and grow your business. With a multi-generational audience with different technology and communication preferences, plus the need for anyone marketing to reach out to their audience in various ways, the internet is really just one spoke in the communication hub. Utilizing other methods such as traditional direct mail in addition to online and social media marketing can help a company break through the clutter and barrage of messages the average consumer gets a day. And, of course, making sure your message is different so you are not regulated to the realm of “every other agent” or “every other restorer” is critical.

Baby Boomers
In 2017, boomers will make up half the U.S. population (78 million strong currently). For the independent agent, those agencies that are owned by baby boomers could become more aggressive in building up their book of business in order to sell their company and finance their soon-coming retirement if they do not have a legacy plan in place. Boomers, by general nature of their generation, are more affluent than the more cost-conscious and frugal generations before them. Boomers will also eventually control 70% of the nation’s disposable income and stand to inherit $15 trillion in the next 20 years. For the boomer independent agency owner (as well as other agencies), this could mean a greater marketing push at the boomer generation through directed marketing strategies in order to gain that business from a generation who has a greater possibility than other generations of affording multiple polices and having a greater spending power. With greater spending power, comes the ability to buy more goods that need to be insured, such as second homes, boats and extra vehicles, in addition to life policies.

Any business will have threats from outside sources that can either hurt the business, or be a make or break in regards to just surviving. For independent agents, watching some of the pre-cautionary warnings might help them stay ahead of the marketplace as 2013 gets underway.

To read the full article, please click here.



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