#Pantheon2023Ken Goodrich’s wisdom Surviving and Thriving in an Unstable Market
Journey to the Top: Success in the trades requires hard work, determination, and a commitment to purpose. The theme of the ServiceTitan’s 2023 Pantheon emphasized the importance of these qualities. The following are key takeaways from the conference.
Takeaways from ServiceTitan Pantheon’s Surviving and Thriving in an Unstable Market: Marketing Strategies Unveiled Session.
It's a battlefield out there for marketed leads. The contractor world is more crowded than ever, and to top it off, Mother Nature isn't exactly on our side across the US. Let’s dive into some Ken Goodrich’s wisdom as Chairman of Goettl Air Conditioning:
Never Pull Back on Marketing: In these turbulent times, cutting back on marketing might seem tempting, but it's a no-go. Keep your marketing engines revved up, and stay visible even when demand takes a dip. Make sure your company is showing up when the need arises.
52-Week Marketing and Recruiting: Think long-term. Plan your marketing strategies for all 52 weeks of the year. And while you're at it, don't forget about recruiting; talent is your secret weapon. As Gary Vee’s video shared, Talent is Part of the Equation! You don't need 6 more people on your team to get the work done! You just need better players. Combining your marketing efforts and recruitment efforts to make a cohesive strategy allows for new customers and new talent to recognize a great company.
Dive into Current Operations: When the going gets tough, the tough dive deep! Explore your current operations thoroughly to uncover hidden treasures of money-saving opportunities. Such as Unapplied Labor Costs. Unapplied labor costs are like a silent leech on your profits. Wondering how to uncover them? Look inside your profit and loss statements (P&L) for opportunities to clean up your operations.
Sales vs. Profit: Sometimes, sales may remain flat year over year, but you can boost your profit by enhancing efficiency and tackling unapplied labor costs head-on. Ken talked about the $500 Savings Challenge…Here's a fun one: Challenge everyone in team meeting to find $500 in savings for the business. At the end of the year, there's a bonus waiting for the one who saves the most. Talk about motivation!
Balancing New and Consistency: In the Q&A, it was asked how do you balance the shiny objects vs what has been proven to work operationally and in marketing. Ken shared striking a balance between innovation and consistency is key. Set boundaries and systems to test new ideas while maintaining consistency in your core operations and marketing strategy. .
Ken also hit one, embracing the everyday blocking and tackling: Just like in football, the key to success is in the fundamentals. Your business machine must be consistent in its day-to-day operations.
In a market that's throwing curveballs left and right, remember these strategies and Ken Goodrich’s wisdom to not just survive but thrive in the new unstable market. As Ken puts it, "It's not about pulling back; it's about pushing forward smarter and stronger." So, let's gear up, stay visible, and keep winning in this competitive arena! THIS IS YOUR JOURNEY TO THE TOP!
This article is published by Dr. Anissa Villegas, co-owner of Marketing with a Flair. Marketing with a Flair is an award winning, full service marketing agency focused on helping Home Service businesses grow profitably. To learn more, email Anissa@MWFlair.com