In the world of business, even a modest increase in key performance metrics can lead to a significant transformation. Imagine what could happen if you were to increase your conversion rate and average job value by just 10%. The story of More Than Loft Ladders Derby. Nottingham & Sheffield, managed by the visionary Liam & Kelly Hobbs, serves as a compelling example of how this transformation can manifest in remarkable ways. In a mere 12 months, they managed to increase profits by an astonishing £65,000. Let’s dive into the details of this inspiring journey.
The Beginning of the Transformation
More Than Loft Ladders Derby, Nottingham & Sheffield, under Liam & Kelly Hobbs’ leadership, embarked on a mission to improve its business performance. They recognised the untapped potential lying within their existing operations and decided to harness it to boost profitability.
The Power of a 10% Boost
A 10% increase in conversion rate and average job value may not seem like much at first glance, but the impact is profound. Here’s how it can make a difference:
1. Enhanced Conversion Rate
Improving the conversion rate means that a higher percentage of leads or inquiries turn into paying customers. This involved optimising the website, refining the sales process and enhancing customer engagement. With a 10% bump in conversion, this More Than Loft Ladders franchise began to close deals more effectively, resulting in increased revenue without having to generate more leads.
2. Increased Average Job Value
Increasing the average job value involves offering additional services, upselling, or cross-selling to existing customers. By strategically upselling and offering complementary services, More Than Loft Ladders was able to raise the average value of each project by over 10%. This meant more revenue from every job they completed.
The Numbers Speak
Within just 12 months, the impact of these changes became evident. More Than Loft Ladders not only increased its conversion rate and average job value by 10%, but it also boosted annual profits by an impressive £65,000. Here’s what this transformation meant for them:
1. Financial Stability
The extra £65,000 in profits brought newfound financial stability to the company. This financial cushion allowed them to reinvest in the business, expand their services, and ensure their team was well taken care of.
2. Competitive Edge
With a stronger bottom line, More Than Loft Ladders could outperform competitors by offering better quality services, investing in training, and maintaining an exceptional customer experience.
3. Sustainable Growth
The increased profits provided a solid foundation for sustainable growth. They could confidently explore new markets, expand their geographic reach, and attract even more customers.
Lessons Learned
The transformation of this More Than Loft Ladders franchise teaches us valuable lessons:
1. Small Changes, Big Impact: Incremental improvements in conversion rate and average job value can yield substantial results over time.
2. Focus on Existing Resources: Often, the greatest potential for growth lies within your current operations and customer base.
3. Continuous Improvement: Transformation is an ongoing process. Businesses must continually analyse, adapt, and optimise their strategies.
Conclusion
The story of More Than Loft Ladders Derby, Nottingham & Derby with Liam & Kelly Hobbs is a testament to the transformative power of small yet strategic changes in business. By increasing their conversion rate and average job value by just 10%, they turned their business into a thriving success story, reaping not only financial rewards but also greater customer trust and industry recognition. This serves as an inspiration for businesses of all sizes to explore the untapped potential within their own operations and embrace the journey of transformation.
From here on the posibilities are endless. To take the next steps in becoming a franchise partner for More Than Loft Ladders call us on 0800 035 9880 or fill in the contact form below.