– Hello my friends. Steve “The Hurricane” here and on today’s episode of A Drink with The Hurricane we are going to talk about the top 10 consumer marketing referral sources.
Alright so as we get started here I am excited again to be continuing to announce that the Home Care Pulse report, the new one for 2020, just came out a couple of weeks ago and if you wanna get a copy of it you can go to Homecarepulse.com and you can enter in code Hurricane20 and that’ll give you 20% discount off the full price. If you wish to do so you can check that out on your own.
But what I love about this benchmark study and I love about talking about consumer marketing is I always talk about direct referral marketing, that’s the majority of the things that I discuss as part of A Drink With “THE HURRICANE” because the direct-to-referral source marketing reduces the biggest return on investment and next week I’ll do a video on the best referral sources.
But when it comes to consumer marketing you have to have a one-two punch. You have to have direct referral marketing and you have to have direct-to-consumer marketing that’s gonna be able to bring you the abundance of referrals we need to scale and grow our business to multiple seven and even eight figures a year in revenue. So what are the best referral sources for consumer marketing?
Well let’s take a look. As I share my computer screen right here you can see SEO is the number one referral source type meaning that if your website gets the traffic you are going to get more people contacting you for services and when you look at it, and I love the way the Home Care Pulse breaks this down, this if you add this up this comes out to almost a hundred percent meaning the people who surveyed, out of all the people who surveyed, a hundred percent of them chose one of these things their number one direct-to-consumer marketing source.
Now this column over here represents what percentage of their total revenue came from that referral source type and this can help us to determine should we invest in this or not. So for example, let’s look over here. Again, 17, 18% of people said that their SEO was the number one way consumers find them on the internet for their direct-to-consumer marketing report and that generated 20% of the revenue that came into that business. So if I have a million dollar business 20% of my revenue is $200,000 in total revenue. That’s a really good worthwhile investment to invest in SEO for my organization.
Let’s look at another one. The biggest one return on investment was Facebook. Now only 8-1/2% of people said that that was their number one consumer referral source but 28% return on investment is a worthwhile investment because if you think about it, again, for every million dollars that’s $280,000 in total revenue that came from that referral source type. Let’s look at another one that generated a lot of revenue. The newspaper. What, the newspaper? Only 3.7% of people surveyed said that that was their top referral source type but almost a quarter of the revenue of that business that said that was their number one came from newspapers. Now I’m thinking to myself about newspaper, how could newspapers be effective still like this is the 21st century. I don’t even check the newspaper anymore but you gotta think about our patients, the people who are contacting us for services.
Many of the people that are contacting us for services are in their 70s and 80s and older. And if you have a spouse, say I’m 80 years old, that would mean my wife Susan would be 82 because she’s almost two years older than I am, right, like summed it half the year she’s two years older than me and half the year she’s one year older than me so she’s almost two years older than I am. So if my wife were to have something happen to her at 82 and I’m still around and I’m an old timer at 80 years old myself I’m not gonna go on Facebook. I don’t have a Facebook profile. I don’t check the internet. That’s a newfangle dangle internet thing. That thing is evil to me, right? I’m gonna pick up the old fashioned newspaper because that’s what I’m accustomed to.
So it’s interesting looking at all the different type of leads that we can get the more technologically sound is gonna probably be a family member contacting me for services, an adult child or an elder law attorney or a guardian or someone of that choice, a power of attorney. If I’m going with the more traditional type newspaper, maybe even television, a lot of the seniors don’t have Netflix and web streaming services, those are the people are going to be spouses of patients who need services. So as you’re thinking about what are the direct consumer marketing vehicles I should use take into consideration what target audience am I trying to reach. Everything’s all about divide and conquer. 50% of our business should come from consumer marketing so pick two or three of these items here that you wish to invest in and then move forward with confidence knowing that you should be able to get about 50% of your revenue goal for the next 12 months from said advertising type. And so that’s our tip for the week folks. If you need help with this, you need help scaling and growing your business reach out to us. We have been helping businesses grow their census, revenue and profits for eight years now. I guarantee we can help you blow away the competition.