Intelligent CXO Issue 3 - Page 51




Why is marketing a dirty word in the construction industry ?

“ business is just managing to stay afloat . I can ’ t afford marketing . I rely on word-ofmouth referrals and tender opportunities . I don ’ t need to market my business .”

These are just some of the reasons construction companies , and especially small contractors and sub-contractors , put forward for choosing to place marketing on the back burner and not educate prospective clients on why they should choose their product or service over their competitors . According to Databuild CEO , Morag Evans , this approach is shortsighted and detrimental to the business in the long run .
She said : “ The days of simply throwing money at expensive advertising are a distant memory . We have found that working with the sales teams and creating a multifaceted approach at an entry level cost produces the best results .
“ Regardless of the size of the construction company , and whether it ’ s thriving or just managing to keep its head above water , investing in a marketing strategy designed for today ’ s times is imperative , especially while the construction industry is struggling to recover from the devastating fallout of the COVID-19 pandemic .”
According to Evans , businesses cannot operate at their full potential without a marketing strategy in place . “ Besides building awareness of the company brand and the products and services it offers , marketing enhances the company ’ s reputation and credibility , which is important for attracting new clients and retaining existing ones . In this landscape , existing business has shrunk , so you need to downsize – or get new business .
“ The right marketing activities generate leads that mostly turn into business for the company , which is key to gaining an edge over competitors .”
Essentially , a marketing strategy outlines the actions necessary to achieve the business goals . “ Fundamental to the development of a marketing strategy is a thorough understanding of your business and the market in which it operates ,” said Evans . “ It ’ s also important to find out what your competitors are doing that ’ s innovative or better than you , as well as what they ’ re doing wrong . This will help you identify the type of marketing best suited to your business .”
Evans points to several key elements that should form part of any marketing plan , such as an impactful logo , clear messaging and an understanding of your target audience .
“ If nothing else , your business must have a website . It ’ s your face to market .”
Don ’ t underestimate social media
Construction companies don ’ t usually opt for social media marketing , believing their target audience is generally averse to it , but the beauty of these platforms is that they offer a variety of techniques that allow businesses to engage with thousands at no cost .
One of the main benefits of social media is that your audience can provide feedback on your content .
Advertise for the long haul ( even if it is conservatively )
Whether it ’ s print or digital , advertising is an invaluable tool , as long as it is done regularly and provides a clear call to action . Research has shown that an ad run over an extended period is far more effective at generating business leads than a once-off placement .
Spread the news
It ’ s important to regularly publish news from your company in which you educate clients on how to get the most out of your product or service .
Be proactive
Undoubtedly , the best source of new business for suppliers and contractors is project leads , especially in the highly competitive construction industry where the ability to communicate with the right people at the right time is essential in securing a contract . x www . intelligentcxo . com