Marketing SEO Podcast

Knowing Your Concrete Coating Lead Cost By Source

14 Minute Read
When you’re running a concrete coating business, it’s important to know your costs so you can price your services accordingly. One of the most important costs to know is your lead cost. This article will help you figure out where your leads are coming from and what they’re costing you. Armed with this information, you can make more informed pricing decisions and increase your profits. So, let’s take a closer look at lead sources and how much they cost.

Topics Discussed

  • Why you shouldn’t let a marketing agency tell you how much to spend on advertising
  • Audit your concrete coating leads by source
  • Audit your decorative concrete lead cost by source
  • How to get off the hamster wheel of the feast to famine 
  • Mapping out your goals
  • Building a strategic concrete coating plan

Audio Transcript

Hey, there decorative concrete contractors. Do you want to figure out exactly what you should be spending on advertising to generate the right type of leads for your concrete coatings and decorative concrete business without actually guessing, taking the gambling gamble or actually relying on the marketing agency to tell you how much you should be spending. Stay tuned for this show. Welcome to your concrete success podcast. A show created to inspire decorative concrete contractors to build a thriving decorative concrete business. I’m your host, Danny Barrera, the founder of concrete marketing crew, a digital agency specialized for concrete contractors and also the author of the digital concrete contractor marketing plan.

How to turn your online marketing efforts into a lead generation machine on each episode. I’ll be sharing, improving tips, strategies and processes from leading experts in the industry on how they found success in their concrete business. Alright and welcome back. Welcome back. This is Danny, your host, your conquered success podcast. It’s been a while. It’s been a minute. Actually have someone reach out to me and one of our team members as well told me, hey, his name is Becky. He said, when is the next podcast episode going to be dropped?

I said, okay, I think it’s time. I think it’s time the world is waiting. So anyhow, thank you for tuning in. If you’re watching this on Youtube, you get to watch me actually walk you through some spreadsheets that we have here in house that we leverage and use to help our clients get better results, calculate how much you should be spending advertising and if you’re listening to this via podcast, apple itunes et cetera number one, make make sure that you hit that subscribe button, that you hit that like button.

And if you found anything valuable here, share your feedback with us, we would really appreciate it. So let’s get right to it. Your decorative concrete contract or you do concrete coatings, you do resurfacing whatever you do at the end of the day, you want to build certainty in your business and there is no better time than in this economic times of uncertainty and turmoil for you to actually get really serious about what you’re going to do about. Because here’s the reality can’t do anything about what’s happening at the political level.

You know, you’re not actually running the White house, you can complain about it on social media, you can start chatting with your friends on facebook and you know share all the emojis and all the posts and all that stuff, which I don’t know if he moves the needle or you can get in the driver’s seat of your business and the control of your business and the future of your business by understanding basic economics. This is the stuff that actually moves the needle. This is how concrete marketing crew has gotten to where it’s gotten too, is by figuring out out numbers by figuring out numbers not just for ourselves as an agency but for our clients.

So this conversation applies to you. If you do flat work decorative concrete and on top of decorative concrete, concrete coatings, epoxy floor in metallic epoxy, you’re doing resurfacing overlay stamped concrete. So it’s an exciting conversation. If you’re just getting started in business, this might give you a good idea. Why is it that you’ve been in the struggle, hamster wheel, okay, going on and on and on without gaining certainty for your business, you know, because here’s the thing is at some point in time you decide to break out on your own and this is where I take out my handy dandy white pot and you get started here, you get started.

The start point is right here you get started. All excited all of a sudden you might land 12 jobs and then all of a sudden the pipeline dries up and you realize holy cow, it’s time for me to actually do something to market my business, right? And that’s when you go out there and start talking to home Advisor and then you go, you get into this cycle, which is a vicious cycle of getting some results, someone takes your money, maybe you spend some money into a website, someone rips you off or whatever it is and therefore you start all over again, maybe at some point in time you break even and you realize, well maybe that’s the name of the game.

Maybe the whole thing is about referrals, but I would beg to differ, especially because because we manage millions of dollars in advertising for our clients throughout all these years. So how do we break free from this and build certainty? Economic certainty for your business as a decorative concrete contract. And that’s by understanding numbers. Understand numbers. But more specifically in the lead generation aspect, leads are the life life blood of your business. Sometimes people say cells, but here’s the thing before you get to cells, Before you get to estimates.

Before you get to any of those numbers, you need to get some people in front of you. You need to get in front of some people. So how do you do that? It’s the lead generation. So let’s talk about regeneration. If your lead generation is flat, your cells are going to be flat. If you’re solely relying on GCS to send your work, you’re gonna have uncertainty. Some months are going to be great. Some months are gonna be like a roller coaster. And if you want to break free from that, want to actually build a business that’s profitable, that’s constantly growing.

Then you gotta get a grip on this. So let’s start right into it into some of the areas that that are very important for you to, to look at. So number one is your lead sources and your lead sources, you might want to write this down. If you’re driving this, don’t write this down what you’re right driving. But if you are listening and watching this right now, you got a paper. Take this out. Just take a note of all the lead sources. So type in lead sources.

Lead sources. Lead sources that I have leads from. And if you do decorative concrete, like facebook might be one of them, you might have facebook and then when you’re talking about facebook, okay, is it organic facebook? And I actually put in advertising dollars or am I just relying in constantly sharing in, you know, putting uploading all the pictures of all our projects and all that stuff. Right. What what is it gonna be for you guys? Is it gonna be organic or is it going to be paid?

Now here’s the thing as a marketing agency. I’m actually gonna tell you that Organic is great. But don’t hand it off to a marketing agency. Organic works best when you as a company owner or you have your manager, your one of your crew leaders or your sales manager your estimate or going out into a job site. Where were you as a client success manager, whoever you have in place your assistant to actually take pictures and post them on social media versus hiring market agency to do that for you?

Like putting a logo and branding your images can only work to a certain extent to build certainty for your business. I’m talking about like building revenue and actually taking control of that because this is going to get tight for a minute. So how do we fix that? How do we fix that is the organic, one of the questions you have to ask yourself is can I scale organic? Is it scalable? Is it reliable? And is it consistent? In other words, can I control it? And if the answer is no, then we have to, if you if you want to get into the certainty of your business and financial consistency, then you have to get into the certainty wheel, which is what can I actually control Now here’s where it gets tricky.

Some of you guys might be boosting posts be a messenger at and I’m not here to tell you that doesn’t work like that may very well work for a minute and of the sun and starts working. It works great for one post and then it dies out. You try to do it again, my network and then you kind of gambling and you’re uncertain about it and that’s where the floor coating marketing plan and the strategy comes into play. Now the whole thing about this conversation is how to calculate the cost.

But I’m just giving you examples so that you understand the mindset of what produces result versus having to paid advertising campaign ad campaign leads into cost per lead. I can calculate the cost per lead that’s gonna be like my first KPI how much is it going to cost me to generate a lead? What’s my conversion rate from lead to estimate. Mhm And what is my conversion from book estimate to book job, In other words, some of you guys may be saying, well, if uh if say I’m just gonna take coatings, for example, right now, uh you might be turning on a cost per lead right here. Right?

So there’s gonna be a specific dollar. Okay. And you know, I’m able to turn 30% of the leads into an actual estimate. So you might have 30% up here, 30% and out of those 30%,, I’m able to close a good 50% say that you’re an okay You’re an okay closer, some people say, and take pride about um well, I’m able to close 100% of the deals. Well, perhaps I don’t think you’re selling that. You’re not probably not giving estimates multiple times a day. If you’re closing 100% of the time, it’s probably referrals, it’s probably GCS and giving you a pass and that’s how your closing deals.

But here’s the deal. These are the numbers that you need to write down. Okay. So you got to do that same thing here write down any lead sources. Does your website is your website producing concrete coating leads for you from organic. Can you actually go to google analytics and see how many leads your website has generated for you from organic search. And can you tell what keywords are bringing you the leads for your business? Another one? If you’re not using organic again, website, you’re gonna record into Organic is the pay per click.

Pay per click by far is the most expensive channel out there. However, when we’re looking at social media ad campaigns, for example, we can uh, we can book 30% of of the leads into book testaments on Google. We could probably get up to 70%, 8 out of 10 people that we talked to on google turning to booked estimates, seven out of 10 people turning to a book testament after they’re qualified. So very important for you to know that the sources right now as Economic Times are getting in are compressing like what are you gonna be doing about taking control of your financial destiny?

That’s what we’re talking about here today and I’m giving you some ideas into how to start calculating. So some of these things is, are gonna be based out of where you are at right now. But more importantly, where do you want to be at? Which means that you need to either know how to run these campaigns yourself, the advertising campaigns or hire someone that’s competent to do so. So is are you generating leads from facebook? Are you generating leads from your website? You’re generating leads from Tiktok?

Same deal. Like I’m not talking about Organic Tiktok where you’re dancing and putting funny videos. No, I’m actually talking about advertising campaigns, you’re putting money to work for you and you know exactly how much is it gonna cost for you to generate a lead because then we can calculate um we can calculate everything in the business. You can do the same thing for youtube, that’s the beauty about this whole deal. You can calculate that for youtube and Pinterest. You can calculate this for pretty much anything in your business.

So let me share a worksheet or workbook that we uh take our clients through. And if you’re interested in getting more information, you want to copy, just reach out to concrete marketing crew dot com. And final link in there, send us a message, there’s chat button in there, say that you’re listening to this specific episode. But if you’re interested in getting some help with this, feel free to book a strategy call to see if this makes sense for your business. So here is what this looks like.

Um, and this is what we call the lead generation target planner and say that you’re just getting started right now or maybe you’ve been at this for a minute and you’re a solo um, solar installer and you got one guy helping you out and you’re under 300,000 revenue, you want to take it to 500,000 a year and that is your revenue, right? That means that if that is your monthly, uh that is your yearly um, target, that your monthly revenue targets should be around 41,600 K, etcetera. Now, what about if we want to turn this into like a million dollars.

That means that every single month we should be producing an average Of $83,000. And then we can, we can calculate what is our bare as minimum. What is our band number to be able to operate from? What if we are going from a million to two million? That means that every month I need to be able to write. So this is basic business foundational elements. Now, similarly here, I know that if my average price point, my average ticket value is $3500 that means that I’m gonna need 48 projects I’m gonna need.

If you’re doing floor coatings, that means that you’re gonna need 48 projects paying you $3500 in order to hit 100 and 66. Now you can start calculating your mind can start just spinning, trying to think how many cruise you’re gonna need, how many individuals you’re gonna need. But the point is, this is all mathematics, Nothing crazy about this. So you can hit $1 million 20 for instance a month. If you know exactly how to pull this off. Now, this is where the numbers become extremely important. Like this is where the numbers make all the difference.

This is where you gotta calculate, Okay, what is your average conversion rate from book estimate to book job Book estimate to book job, what is my closing? So are you at 50%. That means the amount of demos, the amount of prospects of estimates I need is going to be. And then here is the Magic # 48. So in order for me to hit a million bucks clean a year minus whatever you pay uncle Sam, you’re gonna, you’re gonna be pulling off about 83 K plus give or take a month. Average project size is $3500.

Look if your average project size is more, you actually need less jobs to make more when you grow your reputation. That’s possible. Okay. Uh so if you are closing 50%, that means that you only need to talk to 48 people. Now, what about if your closing ratio is 60% or 55 Boom. Now you only need 43 book appointments. What if you only need Let me what if you only need what if your closing 60% you only need 40 people. So that leads me into. So the closing ratio, I want to make a big point right here.

Your closing ratio. And the amount of money that you need to put into advertising go hand in hand which takes me into the conversation that a lot of times it’s not the advertising not doing its job. But it’s the cells process that is not tight. It’s not fine tuned. Good thing is when you become a concrete marketing crew client you get help with that. We help you out with proven processes for selling effectively under an environment and conditions, especially if you’re selling decorative concrete, you’re not selling, fixing broken pipes or fixing a broken A C repair unit.

You’re actually out there selling, selling oftentimes what can be seen this luxury And you have to build the value for people to actually desire to make the investment right now and let go of that money and say, Hey, this is more important than the $3500 that I haven’t seen in my bank account. So there you go. So you’re closing the amount of clothes is that you’re doing however many process prospects that you’re turning into estimates and estimates into book job like that. Closing number, that conversion number is a number that you should keep track of and if you don’t know what that is, just start tracking it, have somewhere google sheets again.

So your homework number one is make a list of all the lead sources that you have and start calculating, okay, how much is it really costing me right now because here’s the thing is every lead source is gonna have different numbers, different conversions and then you can scale, you can focus on what’s working and once you completely tap out of a specific channel and your ranking number one on google for every possible term. Now it’s time to look at a different channel now it’s time to do this or to do that or maybe you haven’t tried facebook ads and it’s time to dial that in and yes, it’s going to take more leads.

But guess what, guess what cheaper leads and with a proven process to turn those suspects into um prospects and prospects into book jobs, it’s a big deal. So your conversions are gonna matter. This is why cells is important because the better that your team closes, the less you have to spend to advertising. So if you’re doing 65% right here, that means that you got to spend only $3600 to be able to book uh, 37 estimates. Now check this out the next conversation here. This is where these things get dialed in.

This is where they get stuck is average cost to book an estimate. So one of the numbers that we talked about earlier on in um, in this specific conversation was this following number. Let me see where I put it. Let me see right here. This number right here you have your cost per lead, right cost per lead. And then how many leads does it take you to book an estimate from a real prospect. How many leads do you need from facebook ads? How many leads do you need from google ads?

Like I said from from facebook, it’s going to be entirely different from Tiktok. It’s gonna be just as good as facebook from Pinterest. It’s going to be entirely different from Youtube is going to be entirely different. What matters is the amount of leads that you need so that you can calculate strategically how many, how much you should be spending into into your advertising. But again, how much does it cost for lead? How many leads do I need in order to turn them into Into a book Testament?

Is it 30%. Okay, great. So just do the math. Just do the math what that is then you calculate catholic. So um, that is going to help you and determine the average cost per booked estimate. And if you have any questions or you need help or you want to walk through, you want the concrete marketing to come and help you out. Just feel free to reach out. We’ll walk you through this exact same process and exercise. You get to see it for yourself and maybe you, you either do two things two of the following.

You get real with your targets and your goals from your marketing perspective numbers don’t lie. That’s the beauty about this thing or number two is you increase the amount of commitment that you have towards yourself and this, this doesn’t matter who is managing your advertising. This is for you to understand that at the end of the day, you’re beautiful work of decorative concrete coatings, epoxy flooring. That’s one aspect of the business, but where the business is, where the certainty is where the revenue is where everything comes together is in the numbers aspect and the better that you get at that, the more successful you’re going to be in business and the more likely you are to have the lifestyle that you dream of.

So my friends, this wraps up the conversation about how to calculate your cost, per uh per customer acquisition, How to calculate how much you should be spending in advertising to generate an estimate to generate a book job. Those numbers, you shouldn’t be guessing or you shouldn’t be letting an advertising agency tell you, Hey, try this many. No, you should be 100% clear where you wanna go. Get real with it. And if you need to grow along with an agency, that’s great. That’s awesome. That’s exactly what we have.

So we have an accelerator program. If you have not checked out concrete marketing crew, let me walk you through right now. Concrete marketing crew dot com. You can just google us. We are all over google. If you have not checked this out, let me share my screen here at the stream. So, concrete marketing crew, I want you to, if you’re interested in anything that I’ve talked about today, check out the accelerator program. This is an incredible program. Uh the the access point, the only thing that is limited here is the territories.

We don’t have every territory in the country available. But if you’re a decorative concrete contractor, you do coding, stamped concrete overlays, resurfacing epoxy form, anything that could have concrete, we can help you generate book jobs. I mean even vertical concrete, we have a couple of times that have been coming in there. But anyways, we have an incredible program that helps you and gross with you. And this is the exact same formula that we can take you through to find success for your decorative concrete business. But this is Danny Barrera.

If you have any questions, feel free to reach out and don’t forget, they’ll forget that you are amazing. You take care. Have a great day. Hey there concrete contractor. If you enjoyed today’s episode, make sure that you go ahead and hit that subscribe button, Give us your feedback. Let us know how we did. And also, if you’re interested in taking your flat work and decorative concrete business to the next level online, make sure that you visit concrete marketing crude dot com today, learn more about our services and go ahead and download our free internet marketing checklist for decorative concrete contractors.

You’ll learn a thing or two about what you can improve for your business online.

Danny Barrera

Danny Barrera

Founder of Concrete Marketing Crew. Author of the up-and-coming book, "Sell More Garage Floors". Contributor to the Concrete Decor Magazine. Host of Your Concrete Success Podcast. We're on a mission to elevate the concrete coating & decorative concrete industry.

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