The latest Remodeling 550 report reveals that the top 300 full-service remodelers on the list spend an average of 3% of annual revenue on marketing. To consultant Michael Stone, that's barely enough. In his latest column, he recommends that 3% to 5% of total sales dollars should be devoted to promoting your firm.
Why? Here is Stone's reasoning:
Potential customers won't know who you are unless your name is out there. You might want to work by referral only, but not everyone who needs you will have someone in their life who knows you. Not everyone who knows you will take the time and effort to talk about you. If you want to be in front of as many potential clients as possible, you need to make the effort to market your business.
Stone's idea of marketing includes business cards (hand out at least one a day, he says), quality signs on vehicles and jobsites, and a website. For more ideas, read Stone's column.
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