I was speaking with a Platinum subscriber to The Kitchen & Bath Channel the other day about the potential market for the app. I immediately sent him to my previous blog (Using Today’s Technology to Reach Today’s Customer). He stopped me and said he understands the potential to reach the younger generation(s) that’s why he was an early subscriber, but he wants to know what does it mean to him – in his community – in dollars and cents… so we did some math.
The iPhone and Android apps were released in time for KBIS (BlackBerry a week or so later), so they have been in use for roughly 90 days. Through today, there have been a total (on all three apps) of 6,117 sessions. A session is defined as one use by the end user – typically from launch to termination of the program.
Let’s assume that 5000 of the sessions are legitimate (an individual using the app for its intended purpose – to locate a kitchen and bath or remodeling professional), and let’s further assume that the average cost of a kitchen remodel is $30,000 (his figure for his business).
5,000 searches x $30,000 = $150,000,000 of potential kitchen remodel business is using the app nationwide.
If we agree that there are roughly 30 major metro areas and divide $150 million by 30 we find that in each metro area there is $5,000,000 of potential business using the app over the past 90 days.
Divide that $5 million by the 90 days the apps have been live and there is about $55,000 – a kitchen AND a bath remodel floating around you EVERY DAY!
Our subscriber was thrilled. And was surprised and pleased that he was the only Platinum subscriber in his market – to quote him “Spending $300 to stand out from my competition in this economic environment in a fight for 5 million dollars – this marketing concept is a no-brainer! Nothing personal Phil, but for my sake I hope you don’t get any more subscribers in my market!”
I don’t typically use this blog as a sales tool, but the excitement and buzz around The Kitchen & Bath Channel is growing exponentially daily – our Twitter followers hit 500 in less than a week… and mostly from people I didn’t connect to first!
Click for some articles –
- Kitchen & Bath Design News: “The Kitchen & Bath Channel Unveils Smart Phone App” (go to page 18)
- K+BB Online: “New App Gives Access to Kitchen & Bath Professionals”
- Remodeling Magazine: “Tuning in to a New Channel”
Click for additional information –
The Kitchen & Bath Channel Website – with links to the apps