Effective Construction Marketing Plan
Developing a construction marketing plan and strategy is important for the success of your organization. The term “marketing” is often misunderstood and misused. Marketing is much more than sales or advertising. Marketing is the strategic plan that you have developed for your organization that shows the strengths and weaknesses of your construction company; Areas in which you have a competitive advantage; Market that will focus your sales focus (s); The demographics of your chosen market; And the price structure that you are planning to use.
Advertising is often confused with marketing (as it is strictly for sale), it is just a piece of a solid marketing plan. To use the metaphor of agriculture, if I can, is equivalent to marketing grain prices, field situation analysis and plant-advertising and what crop seedlings are nurtured to the public, and determining the outcome of sales yields. Each component is part of a larger strategy and depends on the other for success. As with most issues involved in a construction business, measuring results, as well as planning and preparation, are total We cannot take a break from basic business practice.
The size of the marketing budget will also vary like the target market. Eventually, the development of a marketing strategy comes down to the same kind of steps that can be used for an organization of any size. It doesn’t have to be expensive, but it must be analyzed thoroughly and carefully. And it must be made clear to your staff and stakeholders. Your marketing plan, just like your financial plan, must be monitored and adjusted as needed, and adapted to changes in the competitive environment. The construction market looks very different today than it was two or three years ago. Our construction marketing plans must change accordingly to capitalize on potential revenue opportunities.
1. Determine your purpose
What are the goals of your marketing plan? Does it increase the market share of a particular product or service (such as performing 10 percent of all window replacements in your region)? Will this increase the amount of total revenue which means you need to determine what is your highest-earning service and then adapt the plan to sell more high earning products or services)? Whether it’s a market share in a particular industry (healthcare, schools, kitchens, and baths) or based on pure dollars, a solid strategy should start with a measurable objective that you can moderately argue against your results. should have a separate marketing plan for each business line. These can overlap in places and should actually be – but your market is very different for each and should be treated accordingly.
2. Make a Sweet Analysis –
Strengths, Weaknesses, Opportunities, and Threats.
Perform a SWOT. Not only will analytics help you develop marketing strategies and plans, but it is also essential to keep an eye on the competitive landscape your organization operates.
Power
What makes your company better? Where are the competitive advantages? How strong is the core of your organization? (People, processes, etc.)
Weakness
Where do you need to improve as an organization? Where are you in the competition? What are the key team members or processes in your core business?
Opportunity
Where do you see your core business opportunities? Can you start providing services as add-ons that seem obvious and natural fit with your core business? Are you strong where the staff process and staff are weak? Can you follow their clients? Engaging the brain and the whole staff for the opportunity – you’ll be amazed at some of the ideas that field workers see in the marketplace that you can’t see in a corner office.
Threat
Is your core business at risk of becoming obsolete or being replaced with new technologies? If so, are you developing strategies to prevent these changes and provide revised services? What other potential problems exist (financing, overall economy, population change)?
3. Analyze the current market
1. A result that you want to achieve and 2. Such analyzes of potential areas for new markets or areas to strengthen existing markets. At this point in the development process of your marketing plan the two are involved in molding together.
Your team should ask themselves which market (s) (opportunities) closely align with your purpose? Where does your firm have a competitive advantage? Does this area of this energy align with your strategy? You may find at this point that your energy does not necessarily fit your initial marketing purpose. Don’t be afraid to adjust your motives accordingly. Always, compete in areas where you see growth potential, that you are strong and that your organization has a competitive advantage.
This approach does not mean that you should start working in areas where you still see development opportunities that have no benefits. Your goal should be to quickly develop an advantage. It is also important to consider the costs and barriers to entry. If it costs you tons of equity and takes a few years to implement for a small payment, this market may not be in your favor. However, if the return on investment (ROI) is fairly fast and your company can accept the initial investment with ease, don’t be afraid to challenge the new market. If you see the convenience of making custom cabinets and over the years you have amassed a whole cabinet store of valuable equipment, go for it. However, if you have to spend a few thousand dollars a year for a few custom jobs and a week of training, it is probably not worth visiting. The goal of a construction marketing plan is not to prevent growth, but to strategically allocate capital for its most efficient use.
4. Make a marketing budget for your construction business
Creating a marketing budget is not easy. I have heard that companies are using 0.5 per cent to 4 per cent of revenue as a first step and will then adjust accordingly. If your plan is for a radio and television spot, it will probably be on the higher end, but you will reach more people. If you don’t want to commit so many dollars, you need to be creative and efficient and probably promote fewer people. If you want to spend and develop the mix within your budget, you must set a strong dollar figure. It’s important to develop and use approximate budgets for your increased sales – if your marketing plan works, do you have enough people to handle the extra work? Do you have a rental backup plan?
