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:
Get the full recording here.
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.
Hatch customers are eligible for $1,500 off any new EverConnect, Socius Marketing or Directories product. Click here to learn more.