Contractor Success M.A.P.

523: Ways To Keep Your Construction Company Sustainable


Listen Later

This Podcast Is Episode Number 523, And It's About Ways To Keep Your Construction Company Sustainable Taking steps to create a good foundation in the early days of your business is essential for a sustainable and profitable future.  It's rare these days that your prospective leads happen to find your construction business and become a client with no work. Your company has to grab people's attention, turn curious visitors into leads and then convert those leads into sales. Keep in mind: Marketing-Accounting-Production The first thing I would like to point out is: 1. Don't neglect Marketing Entrepreneurs like you are incredibly busy, and finding the time to promote your business can be a real challenge. The other challenge for new trade companies is money—but every small business needs to invest in marketing activities to increase sales and keep the cash flow flowing. It's wise to be wary of costly large-scale marketing strategies when you're just starting. The best use of your time in the early days is getting to know your clients and how they tick so that you can design (or hire an expert to mastermind) highly appealing, cost-effective campaigns. And don't turn a blind eye to what your competitors are up to. Monitor how they attract new customers and think about how you can improve on what they're doing—or take a completely different approach to promote your business that will help your young brand stand apart. This means that the more solid leads you have, the greater your chances of making a sale. Solid leads are contacts engaged in your business, fit your client persona, and are at least somewhat motivated to hire your service. Here are four great ways to get more leads for your business: 1. Target your ideal clients You might want your business to be relevant to everybody, but the reality is that there is a specific target client who is ideal for your business. Those clients are the ones who are most likely to be attracted to your services and, therefore, the most likely to hire you. These are the people to aim your marketing at. Knowing who they are and what they like helps you develop the products and services they'll use. It also saves you money on marketing because you can target your ideal clients rather than marketing to everybody and hoping somebody shows interest. Even more critical, when you understand your ideal clients, you can build connections with them more effectively, generating leads that can turn into sales. 2. Know your unique value proposition Your unique value proposition is what makes you different from your competition. Every business has something that sets it apart and attracts a specific market. Your products or services might be of a higher quality. You might have better loyalty programs or more specialized staff. Even the size of your business can be a unique value proposition. Smaller companies can claim more personal, attentive, and efficient service for their clients.  Determine what differentiates your construction business from your competition and use that uniqueness in your marketing. 3. Attend networking events Yes, in-person marketing takes time and energy, and you can only talk to so many people simultaneously. But hearing an entrepreneur speak passionately about their business can be very persuasive. Networking events are a great way to get face-to-face time with potential leads. Meeting people at events lets you talk directly to potential clients and hear what issues must be solved. Just make sure the networking events you attend are relevant to your business and are functions that your ideal clients attend. Otherwise, you'll be wasting that valuable time and energy. 4. Create high-value content With so many people using the Internet to find companies and make purchasing decisions, you must ensure your business is easily found. That means developing attractive, high-value, informative website content that is compelling and encourages page visitors to submit their...
...more
View all episodesView all episodes
Download on the App Store

Contractor Success M.A.P.By Randal DeHart, PMP, QPA