0372: Sure-fire Construction Marketing Plan In Eight Easy Steps

This Podcast Is Episode Number 0372, And It's About Sure-fire Construction Marketing Plan In Eight Easy Steps If you're serious about getting the best value you can for your marketing budget, you'll need to develop a marketing plan. Many contractors are having challenges adapting to this ever-changing economy. Trade contractors who rely on the same general contractors they did a few years ago to supply jobs to bid on are finding it more difficult to recover and find work.   It appears that history is repeating itself. Instead of yellow pages, I see many well-intentioned people with their minds and hearts in the right place with a lot of really great ideas on what works and fails in social media. I certainly don't know what works for every contractor; however, what I do know is that every construction company is unique, and what works for your competitor may not work for you.  

Below we outline eight simple steps for making your marketing efforts more effective.

1. Know your customers

Firstly, you need to identify your target market. You probably have an idea of who hires your services but make sure you:

Define your target market in detail. Write down who your target market is.

Spend time finding out about your customers' preferences and habits to help you focus your promotions more effectively. To get the best return on your investment, look at the way your message is structured, worded, and designed – and where and when you advertise.

2. Study your market

Market research is an effective way to help find out about your target market. Conduct online or in-office surveys (when you can) or ask clients for feedback through email.

Ask questions such as:

Why do you hire our services? What could we do better? What additional products or services would you like us to offer?

Your clients' responses will highlight what works well and will help you attract more customers. This feedback can also help improve the service you offer – and encourage positive word-of-mouth referrals.

Show that you're listening and improving where you can, and you'll gain higher customer loyalty.

3. Identify your competitors

Find out who your direct competitors are – and gather as much detailed information about them as you can. Try:

Visiting their websites. Reviewing their advertising and promotions leaflets. Observing their relative strengths and weaknesses.

If you want consumers to differentiate between you and your competitors, come up with a new marketing and advertising approach. Your competitors' weaknesses will present opportunities for you to market your points of difference.

4. Determine your competitive advantage

Sit down with your staff, advisers, and mentors to brainstorm the best competitive advantage. Your competitive advantage can be anything that sets you apart from your competitors in your target market – such as price, service, or location.

It should be something that:

Makes you stand out from the crowd. Exploits a gap in the market that your competitors haven't thought about. Suits your business and the current market condition.

After you've worked out your competitive advantage, use it in all your marketing. Ensure that your competitive advantage is evident in any customer communication.

5. Create a promise

A promise helps clarify what the essential aspect of your construction business is to your customers. You want the client to value your promise or guarantee.

For example, if you offer a product or money-back guarantee, you need to stand by these assurances. Your customers will find out if you can't stand by your promise, and they'll quickly lose trust in you and your business. You'll also run the risk that they'll warn their friends not to hire your company.

6. Make it simple to do business

Ensure it's easy for your customers to interact with your business. They want to have enjoyable experiences regardless of what product or service you're selling. Exceptional service is one area that should be non-negotiable. Also, consider the following:

Is your service business easy to find, and is there sufficient parking? Does someone always answer your business phone promptly? Can people get the answers and information they need? Is it easy for clients to connect with you?

7. Build a reliable brand

It's vital that you develop an integrated marketing strategy that ensures all your promotions, advertisements, and marketing communications convey the same unified brand message and consistent brand values.

Also, make sure you maximize the opportunity to cross-market your message. For example:

Mention your website in your email signature. Market your social media presence on your website. Use your various social media platforms to cross-market content effectively.

8. Evaluate your marketing and update your plans

Measure the return on investment on all your marketing efforts and update your marketing plans based on what works and what doesn't – for your business, your market conditions, and your customers.

Some returns are easy to quantify, like the number of sales or the value of sales generated from an advert or promotion. Others are harder to put a value on, like the number of followers gained on social media or the number of visitors to your website. Some are a lot more difficult to measure, like customers' perceptions or increased brand awareness.

Final thoughts

Marketing experts will be able to advise you on the best ways to measure the hard-to-quantify parts of your marketing plan – and will help you improve your efforts for maximum results.

We encourage all contractors to develop your market tracking system. Perhaps you will discover what works best for your construction company and increase your sales bottom line profits.

About The Author:

Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or sharie@fasteasyaccounting.com