3/21/24
Topic: From Zero to $100 Million+
Guest: Matt Mehr, Co-founder, Hawx Pest Control
In this episode we discuss:
Key data points that illustrate Hawx's hyper growth
How Matt got started with his brother-in-law Scott Wilson in December 2013, eventually partnering with JK Gleave
How they eventually recapitalized to grow and sufficiently fund the operational side of the business
What they learned early on from heavily incentivizing salespeople
What they learned from charging upfront vs. charging after the service
Hawx's investment in data and analysis to allow the company to scale
How they use customer "cohorts" to analyze data points and
A key metric for Hawx: LTV:CAC ratio, which is the lifetime value of a customer divided by the customer acquisition cost (the goal is 3 or above)
Hawx's acquisition by Mike Paulus of PCM Growth, a private equity firm
Doors vs. digital — what Hawx has learned about these marketing channels
How they evaluate sold-to-service ratio and days-to-start ratio
Resources mentioned:
PMP Industry Insiders Episode 151: How to Build a D2D Team
PMP Industry Insiders Episode 141: D2D: Get the Sales You Need With a Proven Playbook That Works
Notable: "For door-to-door, it's the right customer, for the right price with the right expectations. And if you have those three components...it rivals the best retention in the industry." —Matt Mehr, Hawx Pest Control
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