Defining a specific marketing term isn’t just a test question for people earning business degrees. The ability to understand certain terms and, when needed, put them into action will help any roofing or contracting business grow. Here are 5 marketing terms that should be at the top of your to-know list.
1. Bounce Rate
This describes the rate of visitors who leave your website after visiting just one page. A high bounce rate indicates the visitor couldn’t find what he or she needed on your site, so they continued their search elsewhere, which likely led them to your competition. Tools like Google Analytics can help you determine your site’s bounce rate
To reduce bounce rates, ensure your roofing or contracting website:
- Loads quickly
- Works well on mobile
- Offers easy-to-use menus and contact forms
- Doesn’t display so many ads that potential clients abandon the site in frustration
2. Marketing Collateral
This term describes the collection of materials used in marketing campaigns or sales presentations to set your business apart from competitors. It might include:
- Advertisements
- Brochures
- Business cards
- Newsletters
- Postcards
- Product or service fact sheets
- Promotional items (like pens, t-shirts, or rulers)
For example, New Roof No Mess is a roofer-specific marketing program that provides materials to show homeowners the benefits of choosing a contractor who uses an Equipter RB4000 to protect the homeowner’s property.
3. Competitive Intelligence
This process involves gathering relevant information about your top competitors: How do they connect with prospects? Who are their existing clients? What does each business do well? What does each contractor do poorly? Etc.
Competitive intelligence is also a good practice when you’re interested in hiring and retaining the most valuable employees. How does the competition retain quality employees? Or perhaps why does a particular company keep losing employees?
All of these insights will help you adjust your own business and differentiate yourself so you stand out as both a contractor and an employer.
4. Conversion Rate
This marketing term for roofers and contractors describes the number of people who converted (took action) on your website (i.e., filled out a form, etc.) divided by the overall number of people who visited website. One significant benefit of a high conversion rate: since you’re bringing higher rates of more qualified prospects into your sales funnel you’ll likely spend less money acquiring new leads. Again, a web tool like Google Analytics will help you find your conversion rate.
5. CTA (Call to Action)
The Call to Action is a specific request you make to the prospect using print materials, like a postcard mailer, or online channels, like your website or Facebook page. In essence, the CTA nudges the homeowner to take the action you want them to take. Of course, that action needs to have value to them too. Examples of roofing and contracting CTAs include requests like:
- Sign up for our free HVAC email newsletter.
- Download a free fall roof maintenance checklist for homeowners.
- Schedule your gutter cleaning before our fall discount ends on Friday.