Marketing is a crucial aspect of any home professional business. It helps attract new customers, build brand awareness, and drive growth. But marketing efforts can sometimes become expensive, especially for smaller businesses on a limited budget. That’s where marketing growth hacks – or ways to save money marketing – come into play.
These strategies allow home professional businesses to maximize their marketing impact while minimizing costs. By focusing on cost-effective tactics, businesses can achieve a higher return on investment (ROI) and make their home improvement marketing efforts work harder for them. In this article, we’ll explore the power of marketing growth hacks and how they can help home professional businesses save money while driving success.
Post-COVID Impact on Home Pros: Trends & Stats for Improvement Industry
Before the pandemic, the home improvement industry saw steady growth. From 2019 to 2020, there was a significant increase in revenue due to people staying at home and focusing on remodeling projects. Now, let’s take a look at some home improvement industry statistics.
According to Zippia, 76% of American homeowners completed home improvement projects in 2020. In 2021, the U.S. remodeling industry earned $1.1 billion in revenue, with Americans spending $538 billion at home improvement stores.
Despite the recent growth, home improvement trends in 2022 and recent predictions show that there will be a decrease in home renovation spending in the coming years. Factors such as inflation, the housing market, and the pandemic’s effect on the economy contribute to this decline, but the industry is still expected to grow – just at a slower pace.
During this time of slow growth, effective marketing strategies are crucial for home improvement professionals who want to stand out in the competitive market.
If you’re interested in more details on COVID’s impact on the industry, we have a full breakdown of how the coronavirus transformed the home improvement market and the aftermath in 2023.
Marketing Hacks to Save Money and Succeed
In this section, we’ll reveal some valuable marketing hacks that won’t break the bank but will still make a big impact on your business. These budget-friendly tips are designed to help contractors thrive in the post-COVID economy. First, let’s look at budgeting.
Importance of Having a Marketing Plan Budget
It’s crucial to allocate your resources effectively when assembling your marketing plan budget. Setting aside funds for marketing allows you to strategically invest in promoting your business and attracting more customers without overspending.
But if you don’t have much money to put towards marketing, that’s okay too – there are plenty of ways to save money marketing. The following tips will help you save money and achieve a greater return on your investment (ROI):
1. Utilize Organic Traffic
When it comes to saving money in digital marketing, utilizing organic traffic can be an excellent strategy. The meaning of organic traffic refers to the visitors who come to your website naturally, without paid advertising. It’s basically like having people find your website by word-of-mouth, and you can use organic traffic checkers to see what traffic to your site looks like.
Organic Traffic vs. Paid Traffic
Organic traffic can save you money on what you’d otherwise spend on paid advertising. With organic traffic, you don’t have to pay for clicks or impressions your website receives. Instead, you focus on creating high-quality content and optimizing your websites for search engines using search engine optimization (SEO) – we’ll look at that more closely further down.
Paid traffic, however, means paying for advertisements to drive visitors to your website. It can be effective for reaching a big audience but also costly, especially for small businesses on a budget.
2. Out of the Box Marketing
When promoting your business, thinking creatively can help you save money while reaching your target audience. For example, you could do job site marketing, which is entirely free.
For instance, if you’re doing construction or renovations in a neighborhood, you might distribute door hangers around the block to apologize for any inconvenience caused by the construction noise and promote your business. It’s thoughtful and a great way to get your business’s information in front of people.
3. Referral Marketing Strategies
Referral marketing is a clever strategy to market your business and save money, plus it can make a huge impact.
What is referral marketing?
Referral marketing is when satisfied customers share their experience with others and encourage them to try your products or services. It’s like having your customers become your most vocal spokespeople, spreading the word about your business while you save money on advertising.
You could incentivize your customers to promote your business or rely on genuine recommendations from your happy customers without any incentives.
Referral Marketing Examples
One example is using a referral program – you could incentive customers who refer your business with discounts on future services. This referral would guarantee the customer has to use your business again to get their discount.
Or, keep it simple with customer reviews and testimonials. Everyone turns to Google for reviews nowadays, so encourage your customers to share their positive experiences with your business online. It builds trust and encourages others to give your business a try.
4. Search Engine Marketing and Optimization
Search engine marketing (SEM) and search engine optimization (SEO) are two powerful strategies to promote your business while saving money. Let’s find out what they are and how they can help you.
What is search engine marketing?
SEM is a way to promote your business by using paid advertisements on search engine results pages. When someone searches for a specific keyword related to your business, your ad can appear at the top or bottom of the search results. The only downside is that it does require a budget since you pay for each click on your ad.
What is search engine optimization?
SEO is all about optimizing your website or blog content to rank higher in organic (non-paid) search results. By following certain strategies and best practices, you can improve your website’s visibility and attract more visitors without spending any money on ads.
SEO is all about creating high-quality content, using relevant keywords, and optimizing your website’s structure and performance.
Marketing Growth with HPB
If you’ve found success in the trades, you understand the importance of having the right tools for the job. But when it comes to marketing your business, you may feel frustrated and overwhelmed.
You invest time and money into generating leads, but maybe you’re not seeing the results you want. That’s where HomePro Brands can make a difference.
At HPB, we specialize in transforming strong home professional businesses struggling with their brand and marketing. We have a proven track record of helping businesses reduce marketing costs and achieve significant growth.
Don’t waste any more time and money on ineffective marketing. Take the leap, and schedule a call with us today. We’re here to support you in transforming your business and achieving the success you deserve.
You can also check out Before You Market, co-authored by our owner Matt Christ to learn how to empower your business with the right way to market. If you’re frustrated by your marketing ROI, then Before You Market is for you.