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3 Messaging Strategies to Increase Your Close Rate
We love to share industry insights from our valued partners. In this partner highlight blog we teamed up with Taylor Engstrom, Partner Marketing Manager at Modernize.
There are many ways to grow your home improvement business, including acquiring more leads and increasing your close rate. Solutions like Modernize can help you get more leads, but you need an effective strategy to close them.
We teamed up with Taylor Engstrom, Partner Marketing Manager at Modernize, to analyze what works - and what doesn’t - across their home improvement customer base. You can increase your close rate by effectively using these messaging strategies.
Modernize is the leader in residential lead generation, focused on four energy-efficient trades: HVAC, Roofing, Solar, and Windows. Over the past 15 years, we’ve built a network of the most professional, trustworthy contractors across the country - we are your marketing partner in growing your home improvement business.
1. Text Leads Instantly
You are 7x more likely to set an appointment if you respond to a new lead in the first hour than if you wait until the second hour, and Modernize has found their home improvement customers are most successful when they respond to a new lead in less than 15 minutes.
So when a new lead comes in, you need to respond as soon as possible. At Hatch, we call this practice Speed to Lead.
You could get away with just calling leads a few years ago, but as many as 80% of consumers now won't pick up their phone for an unknown number. In today’s landscape, texting is critical. In fact, Hatch has found that home improvement companies average a near 80% response rate when they text new leads within 60 seconds.
2. Require a Minimum Response Time
We can all take a page out of Amazon’s playbook.
CEO Jeff Bezos was assured during an executive meeting that customer service response times were less than a minute. He put that to the test by calling the customer support line in front of 30 executives.
Four and a half awkward minutes later, someone finally answered.
Bezos is downright customer-obsessed, and you should be too. Your customers are no different than Amazon’s customers; they expect first-class treatment. That’s why you should set minimum response times across your sales and service teams to ensure customers are being spoken to in a timely manner and not left listening to elevator music.
How to Get Started
Before you go crazy and require Amazon-type response times, get a pulse for how fast your response times are today in your organization. Then look to improve ~15% week-over-week. Consider compensating your team when they meet the goal. Not only will your internal operations become more efficient, but your customers will appreciate that you value their time.
Be sure to track your close rates and revenue as you make improvements. That way, the results will speak for themselves.
3. Rehash Cold Leads
Rehash is the sales practice of re-engaging with cold leads. Not only does this strategy give you the opportunity to close on a lead, but you also have the chance to try new sales methods on a lead and get a better understanding of where improvements can be made.
If you quote someone and don’t hear back, the lead goes into rehash territory. Your approach now needs to change from selling to starting a conversation.
Here’s a 3-step playbook to get you started with a rehash.
Day 1 - Text
Hi [Contact First Name], this is [User First Name] with ABC Windows. I never heard back on your decision. I would love to get some feedback and help you with your project.
Why it works
- Open-ended to encourage a response
- Humanizes the sales rep
Day 4 - Text
Have you made a decision about what you want to do with your windows?
Why it works
- Gives time for consideration
- A simple yes/no question
- Leaves room for elaboration
Day 5 - Email
Subject Line: Estimate for [Contact First Name]
Hi [Contact First Name], we discussed your estimate a few weeks ago but I never heard back on your decision. I reached out a couple times over text. Is [Contact Phone Number] still a good number for you?
Why it works
- The subject line is direct and personalized
- Confirms the phone number (maybe it changed or got blocked)
- Opens another avenue for conversation
How to Get Started
Create a report in your CRM for leads that were quoted but didn’t buy. Then go after them with a strong rehash strategy. If yours needs some work, check out our rehash playbook.
Text Leads Instantly
Texting is the best way to get in front of your leads. If you’re still not convinced, consider this — 60% of consumers respond to texts within 1-5 minutes.
Require a Minimum Response Time
Be customer-obsessed - don’t keep them waiting. Track your response times today over text, email, and phone, and strive for a modest 15% week-over-week improvement.
Rehash Cold Leads after 48 Hours
Change from selling to starting a conversation when leads go cold. Go into your CRM and find leads that haven’t responded to you, then build a multi-touch cadence (email, text, and call) using messaging that works.