Maybe you have been on the fence about this whole social media – online marketing stuff you’ve heard about. Maybe you’re a nuts and bolts, meat and potatoes kind of contractor who doesn’t think spending his nights on Twitter or Facebook will amount to much.
But you do know that a good referral or testimonial is worth its weight in gold right? And you would do anything to be able to generate enough referrals to stop having to spend on advertise your contracting business altogether wouldn’t you?
Well you can’t, you will always have to spend on advertising (spoken like a true ad man right?) but you can cut costs, and the way you do that is to find out what the lifetime value of a client really is. To track this, you can simply use a spreadsheet to figure out how much your typical customer is worth in both direct sales and referrals.More