Tired of always coming in second? Want to out-book and out-build your competitors? Focus on outsmarting their marketing strategies. Embrace smart moves that your competitors won’t see coming. Learn their language, tactics and tricks and seek to outwit them.
Keep reading to know exactly what they do and how they outperform you.
Here is what top construction companies are doing to win customers.
They are making strategic marketing moves
That means not entering the market blindly. To these successful construction companies marketing is a deliberate effort that incorporates:
· Careful research
This entails identifying and gathering market information about customers’ needs and preferences. Understanding their target market helps top construction companies better position themselves against the competition.
This research process essentially seeks to identify opportunities to better serve the market, establish the level of unmet needs in the market and how best to meet them, understand the operations of the competition, as well as shedding more light on the unique value proposition sold.
The research can be conducted through surveys, interviews, focus groups, as well as customer observation.
· Marketing planning
This involves developing an elaborate marketing action plan for the construction company. The plan lays out the right marketing strategy to be adopted by the business, based on the market research conducted.
It contains a list of actions and tactics to be taken in order to seamlessly attain the company’s goals.
A marketing plan essentially answers the question, ‘how well should we engage our audiences in order to achieve all our business objectives?’
The planning process may cover a market penetration strategy, a market development strategy, a product development strategy, as well as a diversification strategy.
· Marketing experimentation
This refers to testing a segmented target market to uncover new business opportunities for the construction company.
It may boil down to altering a product, price, promotion, user interface, or overall customer experience.
The entire experimentation is built on a hypothesis around which the test is done, followed by observation of outcomes, and the final results analysis.
For example, a roofing company may decide to test a new roof shingle material by subjecting it to varying weather conditions in a pilot program. They may issue this material as a free sample to a few customers to gauge their experience.
Based on the outcome, they may decide to modify the shingle’s chemical composition further, scrap the product, or embrace it as is.
· Marketing execution
This involves breathing life into the company’s marketing strategies. It is here that the construction company activates its marketing goals and tactics as earlier laid out.
Having conducted several test runs, the company is now certain of the strategies that are going to work. They allocate funding and provide a conducive environment to implement the strategies selected.
If a certain roof shingle material is approved, appropriate marketing resources are allocated to it for more brand awareness in the market. The marketing team will look into the marketing strategy that offers the highest return on investment and adopt it.
· Marketing performance measurement
This refers to constantly reviewing and appraising the performance of a chosen marketing strategy.
Is the strategy efficient? Is it working effectively? Does it align to the core business goals?
The key metrics employed in this exercise include brand awareness, customer engagement, return on investment, customer retention, as well as the conversion rate.
Each marketing strategy applies a unique set of metrics for accurate results. For example, the performance metrics for SEO progress may differ from those of social media growth.
· Marketing improvement
Based on performance appraisal, the construction company can adopt a continuous marketing improvement approach.
That means, constantly refining their marketing strategies to reach their audience and more prospects. For example, executing a content marketing improvement by hiring a professional content marketing agency as opposed to doing it in-house.
Constant improvement leaves no room for loopholes. The competitor is therefore denied the power to exploit you!
They are using carefully selected methods
Top construction companies prioritize value over price. They take the time to assess the effectiveness of a marketing strategy before subscribing to it.
One way to perform this assessment is by analyzing the return on investment. These companies will always go for strategies offering the highest return on investment like email marketing, search engine optimization, and pay-per-click advertising.
Since successful construction companies prioritize value, they only select a few marketing approaches and exploit their full potential for optimal results. Instead of managing multiple social media strategies, a winning construction company will just pick one and aim at perfecting it.
Lately, YouTube, Facebook, and LinkedIn have proven to be reliable marketing channels for such companies. Here is why:
- YouTube allows the construction company to demonstrate their products or services in action. This is more believable and interactive than a piece of writing.
- Facebook lets the construction company share project photos as they take shape (before and after scenes). Such visual posts exemplify the service provision.
- LinkedIn has amazing features that allows the construction company to see what the competition is doing, connect with industry influencers, monitor helpful blog posts, as well as participate in relevant group discussions for more exposure.
Finding new and effective ways of creating networks
Successful construction companies are always seeking new strategic partnerships. They are always looking for ways to draw closer to their ideal market. These winning companies are always hunting for opportunities to get in the room with people who can become their referral agents.
Strategic networks could land a construction company the next job. Or plant it on the trajectory to its next big project.
But where do they begin?
- Targeting like-minded peers in their trade associations and trade show events
- Upholding healthy relations with previous subcontractors, employers, and coworkers
- Updating their business card information occasionally and exchanging the cards more often
- Interacting with locals at the construction site
- Establishing firm presence on social networking sites like LinkedIn
- Assisting others reach their connection goals
They are focusing on market leadership
Everything top construction companies do is geared towards positioning them as market leaders, experts, and thought leaders. They are doing so by adopting these four strategies:
1. Researching emerging trends
To command authority as a market leader, information is power. To remain on top, these companies invest their resources in in-depth research on industry-related concerns.
They remain on top of emerging trends to better address the evolving needs of their customers. Incorporating new technology concepts in their service delivery helps them better serve their dynamic customers.
2. Creating high quality content
Top quality content is a great attraction tool. People view such content with much awe and tend to develop interest in it quickly.
Content dominated with relevant industry facts and statistics speaks with a more authoritative voice. Their website visitors perceive them as an expert in construction and always want to consult from their site.
3. Conduct webinars
This is another great avenue to show case their expertise as an industry leader. In such webinars, these companies seek to address the issues that are perceived as technical yet relevant for their target audience to understand.
Regular webinars will ultimately establish them as a thought leader where people can rush to for consultation.
4. TV shows and Press Conferences
Successful construction companies identify with the day to day challenges of their local clients. They go out of their way to help their communities in times of disaster for example by pledging free repair services to any affected homeowners.
Such companies also like to share their opinions on certain pertinent issues touching the entire community. This turns them into a voice for the voiceless. Ultimately, this habit builds stronger credibility for their brand.
They are focusing on efficiency when it comes to marketing
Top construction companies don’t just invest in marketing. They selectively invest in marketing strategies that offer a good return. That means, they care about how each marketing dollar is spent.
This they do by tracking the following key performance indicators:
- Keyword rankings
- Monthly awareness growth
- Conversion rate
- Website traffic
- Organic search traffic
- Generation of new leads
The marketing strategies of these companies are constantly under review to weed out the redundant ones. The aim is to direct company resources solely on the strategies that work.
Successful construction companies narrow down their strategies to meet specific customer needs in the most cost-effective way. For example, to rule out overlapped marketing budgets, the marketing leaders may decide to create buyer personas for their target audience. This way, they can focus the budget on meeting specific needs based on the urgency and priority.
Some of the approaches such companies undertake to ensure marketing efficiency include:
- Constantly redefining their target audience
- Frequently reviewing their various marketing strategies
- Adopting a personal approach towards their audience
- Regularly enhancing content quality and delivery
- Occasionally forming strategic partnerships and alliances
- Always seeking out influencer marketers that sometimes offer free promotions
- Persistently researching and reviewing evolving customer needs
Remaining market efficient is mandatory for these top companies to retain the best position.
They are delivering what the market needs
This marketing approach is centered on customer experience. Customers are looking for modern building and construction techniques and it is the mandate of top construction companies to provide these solutions.
Some of the emerging trends that interest today’s customers include:
Robotic building
This technology presents a faster way to build high quality structures. Robotics are considered faster in building and safer when it comes to demolitions. Customers that desire to build within a shorter timeline are increasingly seeking out this amazing feature.
3D technology
Top construction companies are fast embracing this game-changing technology. It is highly cost-effective and produces quality finishes in projects.
The labor costs and paper printing designs are eliminated, making it a seamless process. Presenting a 3D presentation to a customer seems more appealing and convincing.
Sustainable building
The modern day customer is more environmentally conscious. They are seeking sustainable construction solutions.
Construction that is energy efficient, and has minimal carbon emissions is what most customers are shopping for. Top construction companies are incorporating these concepts in their business model to remain relevant.
Virtual reality and augmented reality
These two technology concepts are taking the construction industry by a storm. Virtual reality and augmented reality are shaping the way construction companies develop designs and helping them arrest design mistakes easily. More construction companies are fast embracing the concept because it helps in their sales pitch as well.
Design and build systems
This approach involves working under a single contract with the project owner to provide design and build services. That means, establishing a single workflow from the design stage all the way to the construction stage.
This ensures faster project delivery, nurtures teamwork, simplifies accountability as well as delivering quality projects due to consistency of craftsmanship.
Branding
At the end of the day people want to work with construction companies they can relate with. A brand is a great way to attract customers. Top construction companies are increasingly investing in their corporate profiles.
But why is branding important for your construction company?
Here is why:
- Separates your company from the crowded construction industry
- Grows, cultivates and builds your credibility as an industry expert
- Speaks for your value allowing you to charge what you are worth
- Builds lasting recognition and customer loyalty
- Delivers more repeat business and referrals
- An established brand delivers consistency in the market
- Attracts the right prospects
- Inspires confidence in your teams
- Sets the stage to introduce new products or services in the market
- Provides a solid foundation to expand your business goals
- It is a proactive way of preparing your customers on what to expect from you
Make an appealing first impression to your audience by branding right. Top construction companies outshine their rivals easily through right branding techniques.
So, what now?
If you have been challenged by your fellow construction companies marketing strategies and feel like taking an immediate step, don’t worry. We have got your back.
We know developing such top notch marketing strategies sounds like a daunting task to you. We also understand that you would rather focus on delivering quality construction projects than sinking into the details of marketing.
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