aptDigital Weekly (#2): What’s your average lead value?

Hi, I’m Alex and this is the aptDigital weekly newsletter. Let’s use sales, marketing, and strategy to help your appliance repair business grow.

Pro Tip: Track your average lead value.

Know what a lead is worth to your business before investing in any marketing or advertising. This will help you understand whether you get a return on your investment for these efforts.

The 3 metrics needed to calculate your average lead value:

1. Average gross revenue (AGR) per service ticket. This is the amount of money you bill a customer for your services.
2. Profit margin (PM) before marketing or advertisingThis is your revenue minus expenses, and typically measured as a percentage.
3. Close rate (CR).This is the number of people that book an appointment for your services out of the total number of people that contact your business, and is also measured as a percentage.

I’ll show you how to calculate these metrics in upcoming newsletters.

Here’s the formula: (AGR / PM) / CR

Our free online lead value calculator is almost finished! If you want to be notified when it is released, just reply to this email.

This Week’s Roundtable:

I host a free weekly Zoom call for appliance repair technicians and appliance repair business owners. It’s a ‘no pressure’ place/time to talk with each other about whatever is on your mind.

Last night’s recording: https://youtu.be/qFo-UBLQ2AA

Highlights:

• Subbing yourself out to other appliance repair companies (8:10)
• Building your own brand (15:43)
• The 4 different approaches to lead generation (21:35)
• Negotiating better rates with your parts suppliers (34:43)
• Preparing for the holidays (49:31)
• Networking with local (friendly) competitors (55:12)

Check out past recordings here, and subscribe to my YouTube channel here.

News:

• Google My Business finally has email and chat support. Just scroll to the bottom of any page at support.google.com/business.