If you want any chance of growing your construction firm, then an effective marketing plan is an absolute must. The following are a few tips for developing marketing strategies for construction firms:
Establish an objective – Every marketing strategy needs to be based around an objective, whether it’s to increase market share of your service or to grow gross revenue, to name a few options. Your objective needs to be established so that you can measure the results of your marketing plan.
SWOT – Performing a SWOT, which is a list of your strengths, weaknesses, opportunities, and threats, will not only help guide you in developing your marketing strategy, it will also help you keep an eye out on the competitive landscape. Knowing your SWOT will also allow you to critique your objective – if you realize that your objective doesn’t fall in line with your strengths, you may want to change it.
Establish a budget – Marketing budgets vary from firm to firm. Some companies allocate 0.5 percent of their revenues, some upwards of 4 percent. Your budget will determine what kind of strategies you can put into place.
Developing tactics – Before you begin deciding what strategies to use, you need to figure out your target audience. Once you’ve done this, you can begin figuring out the best ways to reach that target audience, whether it’s with online marketing, radio ads, TV ads or sponsored events, just to name a few.
Monitor your results – Keep an eye on the results of your marketing efforts throughout your marketing campaign. By using analytics, you’ll be able to see what’s working and what isn’t, adjusting your tactics accordingly.
Use these marketing strategies for construction firms and schedule a one-on-one consultation by contacting us at Local Business Marketing Solutions today.