In this week’s episode of A Drink with The Hurricane, Steve reviews statistics from The Home Care Pulse Benchmarking Study and breaks down if pay-per-click services are worth it.
Alright, so in the 2018 Home Care Pulse Benchmarking Study; And I love this book by the way, if you don’t have one you should totally pick up a copy of it.
There’s a discount code: HME15, and you can use it to save some money and get the Home Care Pulse Report. But if you look at page 70, it actually talks about paying for lead generation and online review sites. Currently, only a third of all the companies surveyed, which we’re talking about 12, 13 hundred companies participated in the benchmark study, only a third of them were paying for leads.
Now, here’s my take on it. If you’re gonna pay for leads, you have to first make sure you have a solid inquiry management process, a solid closing process, and you understand your conversion ratio. What do I mean by conversion ratio? I mean, how many people call for services and then how many of those phone calls actually become a start of care admission to your census?
Now, the industry average is somewhere is somewhere between 30 and 40 percent. The agencies that are newer are closer to 30 percent, the agencies that are larger, doing three million dollars plus, is closer to 40%. If your ratio is no way near 40%, I don’t see spending the money in getting internet leads yet because you don’t know how to properly convert.
What I would spend the money on is an inquiry management process, a company that can train you on answering the phone properly, and then a closing process to sign customers up. Master that because once you master that, then invest in the internet leads because you’ll be able to convert more and bring on more revenue and a higher census. Now, if you happen to not be aware, this is exactly what we do at Hurricane Marketing Enterprises, and this is the reason why our clients experience a 36% revenue increase from the year before they worked with us to the year after they worked with us.
Our average client grow is by 500,000 dollars in a year over what they did the year before. So if you did a million, you’ll do a million and five. If you did two, you’ll do 2.5 and so on. The reason why is we help our clients with their efficiencies. Pick up the phone, give us a call, and let us show you how we can help you BLOW AWAY THE COMPETITION!