ORLANDO, FLA. – Nearly 400 contractors gathered here recently for the latest Plumbers’ Success International Summit, which centered on the theme “Dare to Deviate.”
Terry Nicholson, president of Plumbers’ Success International, led off the Summit’s featured presentation by setting forth the idea that, “It’s not enough to be memorable. You have to be unforgettable.”
Nicholson explained that the best way to make a company unforgettable is to distinguish itself from its competitors. Those with the willingness to “dare to deviate” are the ones that stand out in the minds of consumers.
“If a contractor’s not achieving the level of success they desire, they’ve probably failed to deviate,” Nicholson explained.
According to Nicholson, contractors can deviate through their people, their company or their marketing.
Nicholson took PSI members through a procedure to develop their own company niche that they can use to gain a competitive advantage.
“If you don’t have a marketable competitive advantage, dare to deviate, and create your own,” Nicholson urged the crowd.
Nicholson also turned his sights on marketing.
“Contractors need to carve out a niche big enough to catch a large population but narrow enough to avoid duplication,” he said. “The problem in the plumbing industry is that most companies are so similar that the only difference is their marketing, and that’s why the only competitive advantage a contractor can turn into instant profits is a marketable one.”
The competitive advantage belongs to the contractor that is the first to tell the story that the market finds appealing.
One of the highlights of the PSI meeting was the introduction of a new program members can use to generate additional business called “Remodel Remedy.” PSI cited it as an example of a tool that will help plumbing contractors deviate from the competition.
The Remodel Remedy is a Website dedicated to helping homeowners pick out high-end plumbing fixtures – www.myremodelremedy.com. Members can promote the Website with the marketing materials PSI has created for them, which will drive homeowners to the site. From there, homeowners can explore the premium faucets, showerheads, towel bars and accessories that are offered. Once the homeowner finds the fixtures she wants, she can add the items to her wish list, and then submit that wish list to the PSI member closest to them.
PSI also introduced a tool called Mission Control Call Watch that records every call that comes into a contractor’s office. By recording each call, it allows the contractor to keep his call takers or client care representatives accountable. Contractors can immediately review tapes if they deem that their call conversion ratio is too low. This program also recognizes all lost calls; it will e-mail the phone number of any dropped calls.
A course dedicated strictly to managing one’s finances was also given called Cash Flow Forecasting. During this session, the basics of the essential business plan were first discussed. Then, PSI CEO Mike Diamond and Client Support Director Landon Brewer explained to members how they can improve their cash flow.
Plumbing contractors can increase their cash flow by generating more sales, collecting on accounts receivables, renegotiating credit lines or paying off unnecessary interest.
Plumbers’ Success International is a membership organization for residential plumbing contractors. The company is part of Success Group International.
Additional information is available at 800/505-8885 or at www.plumberssuccess.com.