The recession we’re in now may have come out of the blue, but it’s actually very similar to the last great recession we had. And like that one, it won’t last forever.

Many contractors were not prepared and their businesses were not able to survive. There were other contractors whose businesses not only survived but thrived.

On today’s show, Dave and his guest, Spencer Powell, discuss how to provide value to your customers and how to get the price you need to be profitable. They’ll also cover what you need to be doing NOW to prepare your business for when the economy bounces back.

Spencer Powell is a marketing expert with Builder Funnel whose focus is working only with contractors.

Also, Dave has a special announcement! Subscribe to his podcast for brief daily shows over the next couple of weeks. Guests will include contractors that share tips on what’s working for them to get them through this crunch; Dave’s labor attorney will discuss some of the issues that business owners need to be mindful of during this time; Tom Reber, a sales expert and host of The Contractor Fight podcast, will be on to provide ideas on how you can sell your work to get the price you’re needing; and more!

Show Highlights:

• If you haven’t already, download Dave’s FREE 1-Page Business Plan that will help you plan for the good times and the bad!
• Spencer gives an overview of Builder Funnel and its podcast.
• Don’t panic; but over-react. Re-schedule meetings to a video conference.
• Depending on your state, you may be able to keep a project moving.
• Cut out all non-essential expenses that you can right now, such as team lunches.
• The businesses that market and sell during the downturns are the ones that come out stronger in the end.
• From a marketing perspective, re-allocate your budget to online venues if your home shows have been cancelled.
• Everyone is on social media during this uneasy time, so post several times throughout the day offering your services. Book Zoom meetings online, even if it’s to talk about a future project. That helps get clients in your pipeline.
• Potential clients visit and research your website and your competition’s website. Take this time to fine-tune your website.
• Spencer discusses website design versus website performance, and why it matters.
• Less than 5% of the people visiting your website are at the “ready to request an estimate” stage. The majority are searching to see if your website contains information that can answer their questions first before they decide to fill out their information or make a call.
• Spencer addresses search engine optimization (SEO) and Google ranking, how to build credibility, and different ways to capture interest at the top or bottom of the funnel.
• Dave offers suggestions as to how differentiate yourself and qualify visitors to your website.
• Builder Funnel can help contractors get started with their blogging, websites, SEO, and also video strategies.
• Send out emails or newsletters periodically to keep your business fresh in their minds. Spencer and Dave share some great tips on how to do this!
• Being consistent in what you do is an important part of marketing.

Links:

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Suggested Episode:

10 Ways to Take Advantage of the Next Recession with Dave Sullivan

Suggested Podcast:

The Contractor Fight with Tom Reber

Connect with Spencer!

Builder Funnel Radio

Builder Funnel Website

Builder Funnel Academy

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