Friday 21 October 2016

STOP Competing for Remodeling Jobs – Increase Your Job Conversion Rate

Posted by at 10:32 AM in

Researchers tell us that the typical remodel contractor converts only 2 of every 10 bids presented. Consider how often have you put in the time to meet with your potential customer in order to really understand what they are looking to do; you present a great design with a realistic budget – only to have the prospective customer choose two men and a hammer who gives them the lowest price. All of that time and all of that effort and you lose the job. It can be challenging competing against several other contractors for every job.

What if you were offered a way to dramatically improve your conversion rate to 10 out of 10? It is possible – but only in the insurance damage repair industry. Imagine getting a direct repair assignment from the insurance company. You call the customer and say, “Hello Mr. Jones, I am Pete Dempsey from ABC Contractors and I am the insurance contractor assigned to complete your repairs.” Your introduction has set the stage that you are the insurance company representative. You have been assigned by the carrier as its representative. They and you expect to complete the repairs without bidding for or competing against others. WOW! While the final choice is always the customer’s, in most cases they are happy to have you do the work because you are the insurance company’s representative, you have been vetted by their carrier.

In the insurance damage repair industry using Xactimate as the pricing platform you don’t have to negotiate pricing. Xactware updates the Xactimate pricing every month for every major market for material costs and labor charges. The great news is that in most markets the contractor is paid $55+ hourly range for drywall installation, $50+ per hour for painting, flooring installation is paid at $50+, and trim carpentry is paid at a staggering $65+ hourly rate. Can you make money with those kind of labor numbers?? Not only can you achieve a 100% conversion rate on every job assigned but you can expect to earn a 50% profit on every job if you simply know how to effectively navigate the insurance damage repair industry. Every successful contractor is achieving both of these amazing benchmarks – higher conversion rates and higher profit margins and you can be counted among them. The only industry niche where these two possibilities exist is in the insurance industry as a program contractor. Do you want to become a program contractor?

Reference: 6 Month Coaching Plan – The Revenue Generator