LoyalAs Blog

TL;DR If a friend recommends a great restaurant, lawn care service or residential cleaner, you're more likely to go try it. But how do you get customers to recommend your business and track the results? That's where LoyalAs comes in. We help businesses find new customers by incentivizing current customers to refer them to friends. Then, when the referral is made and the new customer purchases, the referring customer gets rewarded, the new customer gets rewarded and you’ve added new customers with negligible acquisition cost. Everybody wins! Takeaway: Increase revenue and profits with more referrals at less cost for your business using LoyalAs, simple cost-effective tool that drives big results What Friends Say Influences Us More than What Strangers Say, 20-50% of all purchasing decisions are made through word of mouth (WOM) If a friend recommends a great restaurant, lawn care service or residential cleaner, you're more likely to go try it. That's because you have a pers...

TL; DR You can grow your business two ways: i) adding more net new customers or; ii)  more revenue from existing customers. Segment customers based on monthly revenue and job count to identify risk and customer value. Determine which customers are better for your business based on their profile: ease of dealing with them, profitability, ability to capture more, location, job type When you’re analyzing the ability to capture more of the ‘best customers’ assess market size and growth potential (including churn rate), competitors, and any special requirements Optimize profits by figuring out who are your best customers and asking them to refer business You want to grow your business, there’s two ways to do that: More net new customers - new names that are added to your customer list More revenue from existing customers - new revenue added from your current customer list In this post we’ll look at how to add more net new customers. We break down the top 5 things to look for so you can ...

TL; DR 75% of new business comes through word-of-mouth (WOM) but less than half of home service businesses have a formalized referral program Home service business skip setting up a referral program because of 3 hurdles: lack of automated/systemized approach; inability to work with their workflow; no flexibility A tool can blow out hurdles and kill friction points like tracking referrals plus provide other perks.  Tools should have fast signup, business benefits that outweigh their cost, and quantify their results. SNAPSHOT: Wasted Time + Losing Out on Potential Referrals Even though 75% of new business comes from WOM less than half of home service businesses have a formalized referral program.  So they spend money and time on trying to acquire customers in other ways. E.g. ads, cold outreach, etc. And they lose out on potential referrals, aka a lot of new business, than if they had a referral program set up. But the clear line to revenue growth isn’t the only thing to think a...

TL; DR Global home service business projected to grow at an CAGR of ~30%, from $347B in 2020 to $2.25T by 2028 75% of new customers for home service businesses comes from word-of-mouth Less than half of green industry (lawn care, landscaping, tree services) have a formal referral program Home service businesses spend money and effort on tactics that don’t perform as well as word-of-mouth Formalizing word-of-mouth is an easy way to create a referral program 30% CAGR, $2.25 Trillion by 2028 The global home service business is predicted to grow exponentially, ~30% annually to get to $2.25 trillion by 2028. That translates into both high demand and new revenue for home services. Home services can capture new revenue by acquiring net new customers as well as additional revenue from existing customers. All in, there’s a lot of potential for home service business to grow their revenue. But for that revenue to become a reality there are two factors at play: the cost of getting that new busines...