Analyzing Outbound Campaigns - January 2024
Chiirp Revenue Performance
👋 Hey, Jon here! This week, we are diving into revenue generated from Chiirp outbound campaigns across a sample of 75 businesses. These businesses span HVAC, plumbing, roofing, and garage doors - while it isn’t broken down by service type in this issue of the newsletter, we will begin to do that in the future.
As a refresher, below is December’s outbound campaign performance summary:
Response Rate: 5.8%
Total Revenue Opportunity: $229,634 per location
Closed Revenue: +7% month-over-month ($155,714)
Closed Revenue Generated (70-location sample): $10.89 million
ROI: 155x (no, that is not a typo)
Chiirp drove more revenue in both December and January (7% and 18% respectively) while traditional marketing channels generally saw a downtrend in performance. It will be fascinating to look at this data in a few weeks to see how these campaigns performed in February at the trough of the shoulder season.
With that, let’s dive in!
Chiirp Outbound Campaigns Had a 7% Response Rate in January
In January, we saw a massive bump in outbound messages sent, going from 125,000 in December to over 225,000 in January.
Despite the large increase in outbound messages, response rates went up by 1.2% from December!
This translated into an additional 3,100 responses compared to December.
In total, 8,938 net new jobs were booked.
That means that 4% of customers who received a text ended up booking a net new job (up from 3% in December) and spent an average of $2,684.60.
For every 1,000 impressions (texts) from Chiirp outbound campaigns, $107,384 in revenue was earned.
Chiirp Outbound Campaigns Generated $293,333 in Revenue Opportunity per Location in January
In November, Chiirp campaigns generated nearly $210,000 in revenue opportunity (net new estimates, sold jobs, and closed jobs) per location in this sample.
In December, that total revenue opportunity increased by 9% to $229,634 per business.
And now, in January, that total revenue opportunity increased 27% to $293,333 per business.
It’s fascinating to see such a strong upward trend of revenue opportunity generated in three consecutive months, especially when demand was coming down across other marketing channels.
This is also backed up by AHRI equipment shipping data:
Shipped units came down YoY in a pretty dramatic fashion in October, November, and December (we’re still waiting on January data) but by leveraging outbound campaigns to an existing customer base, these businesses were able to create significant net new revenue opportunities (including saves and re-hashes of unsold estimates).
The bottom line: an outbound strategy and proper execution are critical for your business.
Chiirp Outbound Campaigns Generated $184,000 in Closed Revenue per Location in January, an 18% Increase Month-Over-Month
In January, Chiirp’s outbound campaigns generated $13.8 million in closed revenue, with $184,000 per location on average.
As a reference, Chiirp campaigns generated $155,714 of closed revenue in December.
There were a few hundred campaigns in the sample, ranging from service offers to install discounts, but the biggest revenue drivers are still open/unsold campaigns.
Each business is going to be a little bit different in terms of what messaging, campaigns, offer, and audience are effective, but the experimentation is worth it with these types of returns.
Until next time . . .
-Jon