I find it interesting how many times I can ask a question and still get an original answer. I’ve heard everything from ‘What do you mean?’ to ‘I’m not sure I follow’ to ‘Absolutely not.’ when I’ve asked a very simple question of contractors.
Is your salvage a revenue stream?
Over a year ago we launch iCAT Salvage to a warm reception from a handful of contractors whose business was ready to leverage it. As 2012 moves closer to and end, it’s a great time to reflect on the unique opportunity it provides to contractors. Specifically I’d like to focus on two areas where this service can really assist a contractor; value added services and marketing. This industry specific auction house provides a unique blend of both of these objectives while helping to minimize storage on items that the home owner has opted not to have restored or returned.
Value added services continue to be areas of focus for many contractors who are looking to enhance their service offering while distinguishing themselves from their competitors. By leveraging iCAT Salvage, they are able to offer carriers and adjusters a true total job remuneration package that includes often valuable, though unrestorable, items from losses. While they are free to determine the proper distribution of the remuneration, contractors can now approach this service as a supplemental revenue stream that covers their costs and overhead while improving the overall claim costs of their business partners. Now that’s value!
The impact from a marketing standpoint is even more profound, as contractors can provide their carriers and adjusters with the unique opportunity to engage is the salvage auctions directly. This approach not only enhances the existing relationship by engaging the entire business, but it provides a very unique marketing avenue to distinguish contractors who leverage iCAT. So often marketing people are looking for a hook that is unique to their company, and for many contractors iCAT Salvage is exactly that. How many of your competitors can market that they have a salvage strategy that provides them with a marketing opportunity? This service provides contractors with a recurring channel of exposure to their customers, while allowing those customers to participate in the auction of some fairly exciting pieces of salvage.
For an example of exciting salvage that’s been recently listed click here.
iCAT Salvage doesn’t require a contractor be an iCAT in the CLOUD customer in order to sign-up and take advantage of the service.