Hey Pros. I'm usually not a forum guy, but Thumbtack is such an integral part of my business's marketing plan, I wanted to share some data I collected, and see what others' experiences are. I ran the numbers on what I spent on Thumbtack for leads, how many leads I got, how many jobs I got, and the quoted price for each of those jobs for the past two years. I don't have the resources to run a full analysis, but I put together some trend charts. For the pros who have been here since 2017, you know we went through a variety of pricing models. I'd love to know the relationship between those changes and the impact on the above data points., but again, beyond what I can analyze.
Assumptions about my data to consider - I dated based on when my card was charged and when the project request came in (regardless of when the job was completed). Lead numbers will be inflated due to refunds (I did not hand check each receipt, but just pulled the numbers from the payment tab).
All that said.. My goal in this exercise was to look for trends in my ROI here. TT has been a HUGE help in starting & sustaining my business, leading to repeat customers (that are not represented here). I've been a Top Pro for a year and half, have 112 hires, 57 (4.9 star) reviews, and have targeting on for 12 services. Unfortunately.. I see some negative trends:
- cost per lead increasing (which they told us)
- ratio of leads to hires decreasing
- mean cost of leads in relation to job value (quote price) is incosistent
Has anyone else looked at the data like this? Is your experience consistent with what I've found? Assuming you haven't looked at your numbers, what has your experience been like over time?
Beyond the data.. I "feel" like the rate of customers who "check my availability," read my message, but never respond is "excessive" which is what hurts the most (in context of the data). In the past, even if I didn't get the job, it seemed like the chance of a conversation occurred frequently. If anyone has thoughts on that observation, or any way to resolve (beyond the basics we all know), please share.
Thanks and hope this was helpful in some way.
@OlkerPhoto Extremely well done - thank you for the excellent data analysis. I've only been on the platform a short time but have to question its' value and framework. Your data give empirical evidence. I think all Pros are seeing a notable increase in ghosting from job posters/leads which is possible the biggest problem. TT has published a few tips on how to reduce this, but I have not found much success with them. In my opinion, job posters have no disincentive to operate in good faith. They pay no fees and are free to tire-kick to no end - all the while Pro's pay for that and TT makes their money off that. One approach I am using is to continue sending notes to leads I have paid for, asking if they have completed the job or if there is any other update. Only one job poster has responded so I am not the best judge at how effective that strategy is. Good luck and I look forward to hearing more from you.
@imheim Thanks. And yes.. I know exactly what you mean about the ghosting. Back in the old days.. the customer felt like TT was hand picking pros and thus interacted more, so you "really" had a lead. At one point.. TT literally WAS picking the pros. The search has become more generic, so the customer can just randomly pick pros withouth any thought. It's never gonna go back to the way it was.... but I hypothesize the best remedy to ghosting is to get rid of the "check availabilty" request. TT knows my calendar. If I'm in the search results, it means i'm available. Require the customer to send me a relevant question / response / action. Or at least give me the option to require x, y, or z for people who want to contact me 🙂