What’s Your Time Worth?

time-moneyAs a shop owner, have you ever asked yourself the question, “What’s my time worth?” In general, most business owners don’t consider the cost of their time when calculating expenses or investments in areas like marketing. Many times shop owners will handle tasks, like marketing or bookkeeping, on their own. The most commonly cited reason — to save money. However, if they were to evaluate the time and effort they put into handling these activities, they would find their shop would be better served if they retained the services of an outsourced professional. How do you know if it’s more advantageous for you to hire an outside professional or do it yourself? Here are some ways to evaluate the worth of your time.

Reinforce the Customer Experience with Promotional Products

Promotional Products for Auto Repair ShopsIt’s all about the customer experience. The better the experience a customer has when bringing their vehicle to your auto repair shop, the greater their loyalty and the more they will refer you to others. Promotional products are a great way to reinforce the customer experience; however, if you don’t have a plan for how you will use these branded items, you’ll be wasting your investment. It’s important to ask what you would like to accomplish before going full-force into a promotional product campaign.

When Planning, Customer Retention Should Outweigh New Customer Acquisition

auto-repair-shop-customer-retentionIf you were to evaluate your marketing budget, how much is devoted to customer retention vs. new customer acuisition? In attempts to drive up car count, many shop owners invest a good deal of their efforts and marketing dollars into prospecting and securing new customers. In the process, they forget about their best source of repeat and new business – their existing customers.