In today’s fast-evolving business landscape, rising marketing costs, intensifying competition, and the growing impact of AI are reshaping how companies operate.
To address these challenges, we hosted a webinar panel with three industry experts:
- Chris Bache, CEO at Hatch
- Shaun Smith, Sales Director at EverConnect
- Jennifer Bylo, Owner of Bay State Bath
Our panelists shared practical insights and strategies on how businesses can adapt, grow, and thrive amidst these changes. Below are the 5 takeaways, the recording, and a detailed discussion recap.
Top 5 takeaways:
- Marketing costs are rising
The average marketing cost now hovers around 15%, driven by increased competition and multi-channel strategies. - Speed to lead is crucial
Quick response times are essential to secure leads before competitors reach them. - AI boosts efficiency
AI streamlines repetitive tasks, freeing staff to focus on high-value activities. - Storytelling drives sales
A compelling brand story helps businesses stand out in crowded markets. - Personal touch matters
Automation aids engagement, but human connection remains key to closing deals.
Watch the webinar recording:
The full recap:
The rising cost of marketing
- Increased marketing spend: On average, marketing costs have risen from 8% to 15% of revenue, driven by market competition and the need for multi-channel approaches.
- Role of digital and TV marketing: Jennifer discussed the effectiveness of blending traditional TV with digital efforts for brand visibility.
- Importance of speed to lead: Companies must respond quickly to leads, as customers often gather multiple estimates before making decisions.
- Optimizing lead follow-up: Chris emphasized how Hatch’s tools help businesses maximize each lead's potential and minimize lost opportunities.
- Challenges of modern consumer behavior: Customers are overwhelmed by multiple outreach attempts from competitors, making persistence essential.
Rising competition
- Competitor saturation: Companies now compete with investor-backed firms, increasing pressure on marketing and sales strategies.
- Jennifer’s competitive edge: She leverages her unique background and branding, including her “in just one day” tagline, to differentiate Bay State Bath.
- Building customer trust: Shaun emphasized positioning contractors as vetted, trusted professionals to stand out.
- Branded vs. non-branded approaches: Branded campaigns offer higher conversion rates by reinforcing trust, while non-branded leads require extra effort.
- Customer-centered sales strategy: Jennifer highlighted the importance of storytelling in sales and how focusing on the company’s story builds rapport and drives conversions.
The rise of AI
- AI as a game-changer: Chris explained how AI helps streamline CSR tasks by handling repetitive inquiries and allowing human staff to focus on high-value activities.
- Efficiency in lead management: Hatch’s AI tools assist in scheduling and qualifying leads, reducing teams' workload while ensuring timely follow-ups.
- AI adoption across industries: Chris and Shaun discussed how AI gradually transforms marketing and sales processes.
- Consumer preference for digital communication: Many customers now prefer texting or chatting over phone calls, which Hatch leverages for lead conversion.
- Striking a human-AI balance: AI handles initial interactions, but humans remain essential for building relationships and closing sales.
Q&A
- Managing rehash programs: Jennifer’s daughter Kirsten explained how Hatch automates rehash efforts through texts and emails, improving follow-ups.
- Balancing personal outreach and automation: Kirsten shared that while Hatch automates many tasks, personal calls remain crucial to closing deals.
- Incentivizing lead setters: Jennifer’s team earns commissions based on demos and closed deals, aligning incentives across the sales process.
- AI’s role in appointment scheduling: Shaun highlighted the benefits of using AI to streamline scheduling, particularly for routine services like HVAC.
- Impact of new FCC regulations: The panel discussed potential changes in lead generation strategies, with the new regulation taking effect in January 2025.
Final insights and takeaways
- Businesses must adapt to rising costs, competitive pressure, and changing consumer behaviors.
- AI can enhance efficiency but should complement—not replace—human interaction.
- Success hinges on blending technology, strategy, and personalization.
About EverConnect
Thanks to EverConnect for partnering with us on the webinar!
EverConnect is a portfolio of demand-generation services designed to deliver quality leads to your home services business, no matter what budget you’re working with. Our performance-based approach to lead generation gives you the flexibility to choose how, when, and where your leads are generated based on your unique needs. Visit everconnect.com to learn more.
