Remodeling Marketing Essentials: 3 Key Metrics

Clock IconSeptember 18, 2023 Glasses Icon1 minute read

Remodeling Marketing Essentials: 3 Key Metrics

If you’re a home remodeling business owner, you need to be paying close attention to these three metrics.

1. The number of leads received per marketing channel.

For example, are you getting more leads from Google or from Yelp? When we have a good grasp on this metric, we can actually double down on the channels that are delivering results and turn off those that are not.

By analyzing where our leads are coming from, we can make data-driven decisions and optimize our marketing strategies for maximum effectiveness. In this blog, we will delve into the significance of tracking and comparing leads from different channels to optimize our marketing efforts.

When it comes to lead generation, not all marketing channels are created equal. By monitoring the number of leads received per channel, we gain valuable insights into which channels are bringing us the most success. This knowledge allows us to allocate our resources wisely and focus on channels that yield the highest return on investment (ROI). For instance, if we find that Google drives more leads than Yelp, we can concentrate our efforts on Google and potentially reallocate resources from Yelp.

Monitoring leads by marketing channel provides us with the opportunity to identify high-performing channels that consistently deliver results. For example, if our analysis reveals that paid advertising on social media platforms generates a significant number of leads, we can consider increasing our ad spend in this area. This enables us to maximize our efforts and drive more leads from the channels that have proven to be most successful.

Analyzing the number of leads per marketing channel helps us gauge the overall effectiveness of our campaigns. If we notice a channel is consistently underperforming and not generating substantial leads, it may be time to reassess our strategy or consider reallocating resources elsewhere. It is important to remember that what works for one business may not work for another, so regularly evaluating channel effectiveness allows us to make informed decisions based on our unique circumstances.

By tracking leads from different marketing channels, we uncover optimization opportunities. For instance, if we find that our organic search leads from Google are performing exceptionally well, we can invest in search engine optimization (SEO) efforts to further enhance these results. Similarly, if a channel is not performing as expected, we can tweak our approach, such as refining ad targeting or adjusting messaging, to boost lead generation and improve ROI.

Tracking the number of leads received per marketing channel is a critical step in optimizing our lead generation efforts. It allows us to determine which channels are most effective in delivering results and enables us to focus our resources accordingly. By analyzing and comparing leads from different sources, we gain insights into high-performing channels, evaluate overall campaign effectiveness, and identify opportunities for optimization. By leveraging this data, we can maximize our marketing efforts and drive growth for our business.

2. The average cost per lead

It’s important to pay attention to your average cost per lead across the board as well as lead costs per channel. We recently implemented lead analytics for a homer modeling client which highlighted he was paying $2,000 a lead on Yelp versus $200 a lead on Google Ads. With this data, he was able to confidently reallocate his Yelp budget into Google.

The average cost per lead is a metric that quantifies how much a business spends on acquiring a single lead. It is calculated by dividing the total marketing expenses by the number of leads generated within a specific period. In simple terms, it determines how much each potential customer costs you.

Understanding the average cost per lead allows marketers to assess the effectiveness of their marketing campaigns. By monitoring this metric, businesses can identify areas that need improvement and make data-driven decisions to optimize their strategies.

Accurate tracking of the average cost per lead enables businesses to allocate their marketing budgets more effectively. By having a clear understanding of the cost involved in generating leads, companies can avoid overspending and ensure that their marketing efforts are financially viable.

To gain a comprehensive understanding of your marketing performance, it is crucial to break down the average cost per lead by individual channels. Different marketing channels, such as social media, email marketing, content marketing, and paid advertisements, have varying costs associated with them. Analyzing lead costs per channel helps businesses identify which channels yield the highest-quality leads at the lowest cost, enabling them to allocate their resources more efficiently.

Segmenting your target audience allows you to tailor your marketing messages to different customer groups. By appealing to specific demographics, interests, or behaviors, you can improve lead quality and reduce the average cost per lead.

Improving the conversion rate of your landing pages or contact forms can positively impact the average cost per lead. By optimizing these elements, you increase the probability of turning website visitors into leads, thus reducing the overall cost per lead.

Regularly testing different marketing strategies and monitoring their results can help identify which tactics are driving the most cost-effective leads. With A/B testing, businesses can experiment with various variables, such as headlines, call-to-action buttons, or ad placements, to find the winning formula that generates leads at the lowest cost.

Understanding and optimizing the average cost per lead is essential for businesses looking to maximize the value of their marketing efforts. By tracking this metric and analyzing lead costs per channel, companies can identify areas of improvement and make informed decisions to optimize their marketing strategies. From targeted audience segmentation to continuous A/B testing, there are numerous tactics that can help drive down the average cost per lead and generate higher-quality leads. By prioritizing this metric, businesses can improve their ROI and achieve long-term success in the ever-competitive digital landscape.


3. Your business ranking on Google

Are you the first business that comes up or are you buried on the second page where no one will you? Since organic search will always be a great lead pipeline, we need to be carefully tracking these analytics and implementing tactics to always improve our Google rankings. 

Importance of Google Rankings:

Enhanced Visibility: Securing a coveted spot on the first page of Google ensures that your business is prominently displayed to potential customers. People are more likely to click on the top-ranked results, giving your brand increased exposure and a competitive edge over your rivals.

Trust and Credibility: High rankings on Google indicate to users that your business is trustworthy and relevant. Users often associate top search results with authority and expertise, boosting their confidence to engage with your brand.

Increased Organic Traffic: Google’s search results are largely driven by organic traffic. By optimizing your website and content to match relevant keywords, you can attract targeted visitors who are genuinely interested in your products or services. This organic traffic can result in higher conversion rates, boosting your business growth potential.

Effective Tactics to Improve Google Rankings:

Keyword Research: Understanding what keywords your target audience is using to search for products or services similar to yours is critical. Use keyword research tools to identify relevant terms and then incorporate them into your website’s content, titles, meta tags, and URLs.

Quality Content Creation: Google values high-quality, relevant, and informative content. Invest in creating engaging blog posts, articles, and website pages that provide value to your audience. Use a variety of formats including text, images, videos, and infographics to enhance user experience and capture attention.

On-page Optimization: Ensure that your website adheres to proven on-page optimization techniques. Optimize your website’s loading speed, structure, URLs, headings, meta tags, and alt tags for images. Pay attention to improving overall user experience, as this is now a crucial factor in Google’s ranking algorithm.

Backlink Building: Earning high-quality backlinks from reputable websites can significantly improve your search engine rankings. Actively seek opportunities to guest post, collaborate with influencers, or gain mentions on authoritative websites within your industry. Create compelling and shareable content that others would want to link back to.

Mobile Friendliness: Google prioritizes mobile-friendly websites, as more users are now accessing the internet via mobile devices. Optimize your website for mobile viewing, ensuring it is responsive, loads quickly, and delivers a seamless experience across all screen sizes.

Monitor and Analyze: Regularly monitor your Google rankings and website analytics. This will help you identify areas that need improvement and measure the effectiveness of your optimization efforts. Use tools like Google Analytics and Google Search Console to gain insights into user behavior, traffic sources, and popular keywords.

With millions of businesses vying for attention on Google, it’s crucial to invest time and effort into improving your search engine rankings. By implementing effective tactics such as keyword research, quality content creation, on-page optimization, building backlinks, and maintaining a mobile-friendly website, you can enhance your online visibility and attract valuable organic traffic. Remember, a top-ranking on Google is not just about being first but being seen and found by potential customers. So, start optimizing and watch your business soar to new heights!

In conclusion, understanding and effectively utilizing the key metrics in remodeling marketing is essential for determining success in the industry. The three most crucial metrics that every remodeling business should focus on are lead generation, customer acquisition cost (CAC), and customer lifetime value (CLV). By consistently monitoring and analyzing these metrics, businesses can gain valuable insights into their marketing efforts, identify areas for improvement, and make data-driven decisions to maximize their return on investment. Ultimately, by prioritizing these metrics and optimizing their marketing strategies accordingly, remodeling businesses can increase their overall success and stay ahead in a highly competitive industry.

In conclusion, being aware of these three metrics – leads per marketing channel, average cost per lead, and your business’ Google ranking – will provide valuable insights into the effectiveness of your marketing efforts, help you make informed decisions, and ultimately drive the success of your home remodeling business.