5 reasons you need a marketing strategy and where to begin building yours.
In the construction industry, whether you are a GC, in commercial or residential, or a trade like landscaping or roofing, having a strategic marketing plan is key to owning the control of your growth.
Having well managed growth is the best way to get established in your industry and rest assured you will stick around for the long haul. In creating this growth plan, there are many moving parts and variables that can affect your specific strategy so it’s important to always begin with an end in mind.
What are you even trying to achieve?
Where are you going?
How long is it going to take you to get there?
These are just a few questions you’ll need to ask yourself when beginning the strategy process. But, before we jump into the HOW, let’s explore the WHY.
FIVE REASONS YOU NEED A MARKETING STRATEGY
Controlled Growth - Rapid, uncontrolled growth has been known to sink young construction companies. It sounds great to get in the game and grow at an incredible speed but that level of work and quality has to be maintained. You need the capital, labor, and the systems set in place to be able to sustain your business as your grow.
Having a strategy to lay out where you’re going, how you’re going to get there, and how long it’s going to take you, will allow your business to grow along with your capacity to handle it.
Qualified Leads - With a strategy you can begin to quit chasing jobs and bring in leads that are the projects you actually want. Getting clear on what you want and where you are going allows you to stay in front of those specific people and brand yourself as an expert in providing solutions to your clients’ needs. You can educate your audience and weed out the ones that aren’t for you BEFORE they get your time or bid dollars. That way, when a project is finally presented to you, it’s only deciding factors are budgets and timelines.
Branding - Without a strategy and a target it’s difficult, if not impossible, to properly brand yourself within your industry. Why does this matter in construction and the trades? Because no one is going to hire someone they don’t trust. Building a solid brand builds trust and awareness opening doors to places you might not have opened otherwise. Your clients are most likely making a large investment with you and it’s imperative that know what they can expect to get from that investment. Branding = Trust and Trust = Revenue
Have a Roadmap to your goals - This is basically what a strategy is in a nutshell, a roadmap leading you straight to where you want to go. Going after goals without a strategy is the same as hoping and wishing. You can want certain projects, to reach a certain revenue level, or whatever shiny thing you’re chasing but without a strategy you may get there, you may not. It will however, cost you more money and take you longer if you don’t have a clear, strategic plan.
Cost Savings - Many people are afraid to spend marketing dollars because it seems risky. But investing in a quality, strategic plan is going to save you tons in the long run. By creating a strategy up front you can forecast costs and returns instead of throwing money at a problem and hoping it goes away. A lot of business clichés are no longer valid in today’s economy, but the old adage of “it takes money to make money” is still true today. The only thing is, you want to spend it wisely and be sure you’re putting your marketing dollars where they are going to produce the highest (and quickest) returns.
Investing in a marketing strategy is one of the most cost effective investments you will make in your whole entire business. Branding and strategy are not areas to cut corners or settle for the cheapest option. It’s important to spend the time and money up front to save you down the road.
Ok, So now you know a few reasons WHY you need a marketing strategy so, HOW do you even go about creating one?
Start by defining your goals. Be specific as possible. Is there a market you’re really going after? A specific contract method you prefer (CSP, Design Build, etc.)?
Define a target market. (What projects do you actually want to be getting)
Create a plan to show up where your market is already. This could be social media, in person events, sporting events, etc.
Set a budget. No one likes the B word, but it’s necessary to marketing success. You can spend money until the cows come home but without a plan and an accompanying budget, you will never get the returns you’re going for.
Partner with an expert. Sometimes, all it takes is an outside perspective to help you see the forest through the trees. Marketing goes far beyond posting on social media and it takes a certain kind of mind to creatively craft a tailored strategy to meet your unique goals.
There are many marketing agencies going after the construction industry but few have inside experience and understanding of uniqueness of the industry. If you are ready to strategically grow your business by partnering with someone is dedicated to understanding you, your goals, and your growth, Talor’d Brands is waiting to hear from you.
Schedule your FREE clarity call now to see how we can best sere you.
