Grow Your Business with These Effective Marketing Strategies
Business owners in the construction industry wear a lot of hats. On any given day, they might alternate between project manager, HR supervisor, accountant and business manager. If there is one hat that tends to be a little more uncomfortable than others, it is most likely the marketing hat. To help, we compiled this list of highly-effective marketing strategies that every business should be using.
Take the time to understand your audience.
There is no single marketing strategy that will magically grow your business. If we had to pick one, however, it would be understanding your target audience. It sounds simple, but too often, businesses just assume they know their customers. Challenge that knowledge by asking yourself the following questions.
- What demographic makes up your customer base? This includes basic information, such as gender, age, occupation, marital status, education, income and where they live.
- Where do your customers shop for products or services like yours? Do they start their search online, use social media or ask for referrals from people they know?
- Who do they listen to when making decisions relative to your products or services? Are they influenced by online reviews and testimonials or by friends and family?
- What price is your customer willing to pay? You may have the industry experience to answer this question, but it never hurts to do some competitor research to find out what similar, successful businesses are charging their customers.
Segment Your Audience to Target Your Marketing Strategy
Once you have a firm grasp on who your target audience is, you may find that you have different customer segments. For example, if your customers range in age from 30 to 70 it is safe to assume that they have different interests. In other words, a marketing campaign geared to 30-40-year-olds may hold zero appeal to 60-70-year-olds.
This is where targeted marketing comes into play. Now that you know what motivates your customer segments, you can target your marketing to highlight a different value proposition for each audience. If budgets are tight, you can also use this information to target the audience segment that offers the highest return on investment.
Establish a Quality Website
Whether you are a small contractor who offers home remodeling or a large commercial contractor building multi-million-dollar hospitals, having a website presence is an essential marketing strategy. Not only does it help customers find you, but it also helps establish your legitimacy as a company. Consider your website as the foundation of your marketing strategy—a place you can send potential customers to learn more about your company and see examples of your work.
Don’t stress too much about creating a huge website. Start small with an about us, services, gallery and contact page. You can always add to the site as your business continues to grow.
Leverage Social Media
Now that you have a website, it is time to consider jumping into social media. Platforms like Facebook, Instagram, Twitter and LinkedIn can help you build a community around your brand, company and product. According to Pew Research, 72% of the public uses some type of social media. Most of these users visit sites like Facebook, Instagram and Snapchat at least once a day.
There are plenty of resources online that can help you get started. One of these, shared by Hootsuite, reminds businesses that every good business strategy starts with a plan. “Without a plan, you have no clear goal for what you are trying to achieve. That means there’s no way to know if you’re getting a return on that investment.” Although starting a business page on many popular social media platforms is free, you are still investing valuable time.
Utilize Referral Marketing
In an article on marketing strategies for small businesses, Forbes emphasizes the importance of referral marketing. “Tapping into the goodwill of happy, existing customers is one of the fastest, easiest and most cost-effective ways to grow.” It is also a strategy that many businesses overlook.
Word-of-mouth marketing is the most trusted form of marketing in all industries, but it is particularly important in the construction industry. When someone is thinking about making a large investment, like building a house or renovating a business, they want to make sure they can trust the contractor they hire. Take advantage of your satisfied customers and use one of these strategies to earn referrals.
- Post a review: Ask customers to post a review on your business Facebook page or Google business profile. Be sure to respond to reviews, both positive and negative, to show that you are engaged and care about your customers.
- Send an email: Follow up on projects via email and ask for feedback on their experience. If it is positive, ask them if you can share it add it to your website or share it on social media. If the feedback is negative, ask how you could have done better and use it as an opportunity to improve your business.
- Offer incentives: Offer a gift or discount to customers who refer you to their friends and family. This could be a gift card to a local bakery, a high-quality coffee mug or a discount on future projects. You know your customers best, so choose something you think they will appreciate.
L.E. Smith, Helping to Grow Your Business
At L.E. Smith, we are committed to providing our clients with the tools they need to grow their businesses. Although this starts with high-quality products and industry knowledge, we are also here to help you with business and marketing strategies that will attract more customers and help you thrive during the peaks and valleys of the industry.
Learn more about the benefits of partnering with L.E. Smith by visiting our website www.lesmith.com or by giving us a call at 419-636-4555.