We Measured Revenue Converted by Schedule Engine for 10 Months
Here are the results (PPC + Facebook Campaigns)
👋 Hey, Jon here! 5 months ago, I published revenue data from PPC and Facebook leads that were converted by Schedule Engine and I’m back again with 10 months of data. I’ve had some Facebook debates lately (all fun and positive) and I notice that when it comes to paid digital marketing performance, almost everyone is talking about revenue converted by phone calls, not mentioning forms, chats or online scheduling.
Now that you know 30% of sold install revenue in October converted from chat, form, and online scheduling, you are probably aware that only looking at revenue converted by phone calls is missing a chunk of the story.
Keep in mind, the below data is from a small sample - 5 HVAC contractors - but our tracking platform measures both the ad channel and the conversion tool a customer used once on the website (if they weren’t a click-to-call), so we’re looking at PPC + Facebook leads that used Schedule Engine to convert.
Schedule Engine Converted $3.68 Million in Sold Revenue from PPC + Facebook Leads
Let’s get right to the good part of this data:
Schedule Engine converted nearly $3.7 million in revenue from January 1 - October 31st in this sample.
That ~$3.7 million accounted for 16% of the total sold revenue from PPC and Facebook leads in this time period.
This means that of the total revenue generated from PPC + Facebook leads, 16% of that revenue came from people who submitted their information via Schedule Engine instead of calling, chatting or filling out a form.
Schedule Engine Leads Had a Booked Job Rate of 56%
We define booked job rate as the percentage of leads that turn into sold jobs, and it’s an indicator of both the lead quality and how well those leads are managed.
In this sample of HVAC contractors, online scheduling leads had the highest booked job rate across all job types.
📅 Online Scheduling - 56%
⌨️ Chat - 51%
📱Phone - 22%
📝 Form - 21%
For every 100 leads that converted through Schedule Engine, 56 turned into a paying customer. Every ~2 leads produce 1 sold job.
For every 100 leads that converted via phone calls, only 22 turned into a paying customer. Every ~5 leads produce 1 sold job.
Phone calls still drive the most lead volume, but as you can see above, you need about 5 calls for 1 sold job versus 2 Schedule Engine leads to produce 1 sold job.
65% of Sold Revenue from PPC / Facebook Leads That Converted via Schedule Engine Were New Customers
We built logic that follows a customer through their entire journey without losing the original campaign source, how that customer converted, and whether or not it’s someone new or existing.
We specifically look at the time stamp of the lead and when the customer is created in the CRM - if they’re created after the lead came in, we identify them as a new customer.
What we tracked is that 65% of the sold revenue converted by Schedule Engine came from new customers and we also found that ~24% of the matched leads from Schedule Engine were installation jobs.
64% of the overall sold revenue (regardless of conversion tool) was from new customers, so Schedule Engine is right in line with that benchmark.
Closing Thoughts
The amount of PPC + Facebook revenue converted by Schedule Engine from our 5-month analysis to the 10-month analysis remained consistent, and we’ll continue to publish this data as we want to see if more and more customers use the tool to contact HVAC contractors.
I’ll also begin to open this analysis up to all revenue converted by Schedule Engine so we can get a better look at the whole picture, but I can’t emphasize enough how important it is to know how your customers found your business and how they converted.
Knowing these two pieces of information can open insight into how to optimize your experience to meet their needs, especially as they’re changing in this environment.
Phone calls drive volume, but not measuring revenue converted by form, chat and online scheduling isn’t giving you the full picture.
Until next time . . .
-Jon