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Marketing Strategies to Win More Business

One thing that is true for every business is that there is no point in worrying about bottom line revenue if there is no topline revenue. In other words – strong, growing topline revenue makes your balance sheet look a whole lot better. The current economic crisis triggered by the pandemic is making maintaining a healthy pipeline – or backlog – more challenging than ever for a wide range of industries, including construction.

How can your construction firm grow topline revenue and maintain a healthy balance sheet? Here are three simple marketing tips to help you win more business and achieve topline growth.

1. Tell Your Story

Just as a solid foundation supports a building, firms need to develop the foundation for telling a compelling company story that can help drive growth. Answering questions like why should prospect know you, why should they want to know you, and why should they trust you are foundational components of every firm’s story.

  • Why should prospects know your firm?
    To answer this question, start by identifying the right prospects. Determining which prospects are the best fit for the services you offer is essential for telling a company story that resonates and engages the right prospects at the right time. Looking at your current customer base and identifying commonalities (i.e. company size or industry) is a good place to start.
  • Why should they want to know your firm?
    Think about what makes your company unique. What are the attributes that set it apart and make a prospective client want to know about the firm and how it works? Wrapping those strengths into the story in a way that communicates value to the client will open a conversation and begin building the relationship. This answers the “what’s in it for me?” question, helping the prospect see value in having that relationship with your company.
  • Why should they trust your firm?
    Author and motivational speaker Zig Ziglar said, “If people like you, they’ll listen to you, but if they trust you, they’ll do business with you.” The complexity of construction projects and risk associated with the delivery of the project on time and on budget make trust a key factor in winning new business. A key part of telling your story should be focused on communicating company values and building credibility for your firm’s trustworthiness, capabilities and professionalism.

Answering these questions is just the first part of the process for telling the story. Next, you should choose a medium or mediums to communicate this story.

An easy-to-navigate company website is one channel that can help generate leads. Social media is another channel that can fuel conversations with prospective clients. As you evaluate different mediums for telling your story, it will be important to think through the costs, how you are going to manage these costs and how effectively each medium reaches target audiences.

No matter which medium or mediums are selected, a business development tech stack can help convert exposure into conversations. This tech stack is important for organizing information in a way that can grow your business. Now is not the time to defer marketing to a later date in favor of solely focusing on current backlog. If your firm has concerns about getting new business eight months from now, 12 months from now, a year and a half from now, it is a perfect time to start planning and organizing with all the right tools to put the company in the best position to go after and win new business.

2. Make Your Firm's Case

In this digital age there is likely a lot of information out there already about any company. The key here is to control the narrative in making your company’s case. Strategies that can be implemented to help do this include studies and PR initiatives.

  • Studies
    Surveying customers is one way to develop market studies. This information allows you to dig a little deeper and find out what went right and what went wrong on a project. The inherent complexity of construction projects makes it a certainty that not everything is going to go right. Delving into the “what went wrong” aspect is important for demonstrating problem-solving ability and showing how you overcame a specific obstacle.

    These studies can help improve company performance by defining key performance indicators (KPIs). Feedback from customers can bring to light things that might not seem significant but were important to the client. For example, clients may place a lot of importance on how much they liked the project superintendent or how clean the jobsite was kept. Customer surveys can give you the tools to measure projects more effectively as well as information that can be shared with other customers and prospects.

    Note, it is generally best to conduct these surveys in a way that clients will feel comfortable giving their honest opinions. Phone surveys conducted by a third party, online surveys or email surveys are good ways to elicit true client feedback.
  • Why should they want to know your firm?
    PR is another strategy you can use to make your case and control the narrative. PR provides major benefits in the form of third-party validation, providing opportunities for firms to contribute commentary in local print and broadcast media, trade media and other outlets. This commentary positions your company as an expert source and can jump start conversations with prospects seeing the press coverage and wanting to know more about you.

    Note, do not confuse PR with blogging or other promotional methods. PR helps elevates your company’s profile in the community and industry with an organic reach, which ultimately establishes more credibility.

3. Demonstrate How Your Firm Works

Presenting workflows and explaining how your firm manages key aspects of a project can be a deciding factor in winning new business. Firms can market themselves by presenting the project team and explaining how they use technology to ensure all subs on the jobsite are compliant, to manage safety and to track and capture information.

  • Present Your Team
    Introduce the superintendent and project manager who will be working on a project to help build rapport with a prospective client. This rapport can make the client feel comfortable, which can weigh heavily in the decision-making process. You will also want to present your network of subs and reasons why these subs want to work with your company in order to make the client feel more comfortable making a selection. Developing a marketing piece that captures the capabilities of this network creates a vision for the client on what the relationship is going to look and feel like.
  • Present Your Tech Stack
    Prospective clients want to know about how your firm’s tech stack helps manage a project, track a project and deliver reports. For example, you could create a marketing piece that talks about how your company is running RedTeam, demonstrating the power of the mobile app to connect all project stakeholders from the office to the field and beyond. Your tech stack can be another deciding factor in whether or not you are awarded a project by an owner. It elevates your firm as a forward-thinking company that invests in business growth and can make owners more comfortable with how their project will be managed on and off the jobsite.

The bottom line for maintaining a healthy balance sheet and achieving topline growth is to implement marketing strategies that work to tell a compelling story, build a strong case for your firm and demonstrate how your technology and people make it the right choice for a project.

You can learn more about how to market yourself to win more business in our Builderchat here.

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