1、1EXECUTIVE INSIGHTSBeyond the Pipeline:Optimizing Customer Acquisition in Residential ServicesHomeowners have a diverse array of service needs,whether it be an urgent plumbing issue or a long-deliberated decision to look for professional lawn care.While homeowners may have a preferred provider for s

2、ome services,they typically seek advice for new provider needs.Historically,referrals from friends have been important,but digital sources are increasingly critical in this search.This search process highlights the crucial role of customer acquisition:ensuring that when emergencies or other home ser

3、vices needs arise,your business is the first one customers turn to.For scaled providers,especially those that have expanded by acquiring local firms,mastering customer acquisition is even more vital as there may not be an immediate source of referrals.Effective strategies not only enhance the value

4、of these acquisitions but also ensure a steady stream of new customers,solidifying the companys reputation and reach.In this edition of L.E.K.Consultings Executive Insights,we explore the vital importance of customer acquisition for home service providers and offer practical strategies for achieving

5、 it.The importance of customer acquisitionCustomer acquisition drives the success of residential service providers,particularly for scaled providers that have purchased local providers for a premium.These scaled providers need to add value to the local assets they acquire,and a more effective and ef

6、ficient customer acquisition process is one way to achieve that.2 L.E.K.ConsultingEXECUTIVE INSIGHTSBeyond the Pipeline:Optimizing Customer Acquisition in Residential ServicesResidential services companies have a variety of customer acquisition approaches,each of which can benefit from scale:Referra