If you’re in the construction industry, it’s likely that you have either noticed a decline in sales, or are concerned about a forthcoming decline, as a result of the troubled economic times we are going through. However, this is not a good reason to stop marketing your products or services.
In fact, during times of economic hardship, it’s even more important than ever to market effectively and efficiently so that you can reach customers who might otherwise be forgotten about during tough times.
We’ve pulled together a handy overview of all the important steps you should be taking in order to storm-proof your construction business during a potential recession.
Have a plan.
- Know the market and your competition.
- Plan your marketing strategy before you start.
- Be prepared for a long-term strategy, not just quick wins.
- Know what you want to achieve and how you will measure success.
Know your audience.
The first step to marketing your construction business during a recession is knowing your audience. Who are you trying to reach? What products and services will they want from you? What kind of budget do they have for these purchases? Knowing this information can help you determine how much money should be spent on advertising, what kind of ads will work best for your audience, and what type of social media presence works best with them.
The next step is knowing your competition. This means understanding who else offers similar services within the industry as well as those outside of it; by doing so, it gives insight into their pricing structures and marketing strategies that might not otherwise be available without looking at other industries closely related, but unrelated, to yours (for example: if you sell construction equipment, but also sell appliances). Finally—and perhaps most importantly—knowing yourself means having goals set high enough so that even when times get tough they can still reach them while still staying profitable enough to keep going forward without losing ground everywhere else!
Know your product.
When you know your product and the market, then you can be sure to offer something that is different from your competitors. If you don’t know what makes your company unique, then how are you going to do that?
You need to know what makes them unique in order to differentiate yourself from them.
Know your competition.
- Know your competition.
- Find what they are doing well.
- Find what they are doing badly.
- Find out their weaknesses and strengths.
- Find out their pricing, customer service, delivery times and quality of work.
Optimise for search engines.
- Search engine optimisation (SEO). SEO is the process of getting your website to rank higher in search engines. There are a number of ways to do that, but fortunately, you don’t have to be an expert; there are plenty of tools out there that can help you improve your rankings without having any technical knowledge at all — for example: Google Search Console and Bing Webmaster Tools (both are free).
- Keyword research. Keywords should be part of your marketing strategy from day one. To find what people type into search engines when they’re looking for something like yours, look at top searches in Google Trends or use Keyword Planner from Google AdWords (it’s free!). Then use those keywords in everything from social media posts and web copy through to email newsletters and blog posts — wherever it makes sense!
Build relationships and influence.
- Build relationships and influence. In order to thrive during a recession, construction companies need to build strong relationships with customers, suppliers and other stakeholders. Use social media platforms such as Facebook, Twitter, LinkedIn and Instagram to establish your brand presence and increase your influence in the market.
- Build relationships with journalists. Journalists are always looking for newsworthy stories that their readers want to hear about. If you have an innovative new product or service that fits this description—or if your company has recently won an award or received recognition from an expert in the industry—it could be worth reaching out to these writers directly with a pitch.
- Build relationships with thought leaders in your industry. As we mentioned earlier in this post, thought leaders are often sought after by businesses looking for advice on how best to navigate tough economic times like these ones (and ones ahead). If there is someone who seems like their expertise would benefit yours directly (if you’re thinking of acquisition), contact them now so that you’re ready when it comes time for negotiations on this topic later down the line!
Build your email list.
One of the most important things you can do to keep your business going strong during a recession is to build your email list.
If you haven’t already, start collecting email addresses (but remember to remain GDPR compliant). Create an easy way for potential clients to subscribe by placing a sign-up form on your website, along with social buttons (such as Facebook and Twitter) that allow people to follow you on those platforms. As an added bonus, make sure these links are clearly visible from every page of every site. This will help ensure that people see them without having to scroll or look too hard for them when they visit your website for the first time.
Another option is using pop-ups or pop-overs (two different types of pop-ups). These are usually used on websites where there’s one main call-to-action button at the top; when users hover over it without clicking it first, they’ll see an overlay popup asking them if they want more information about what that button does or what’s behind it!
Don’t forget the personal touch.
Don’t forget the personal touch.
When it comes to marketing your construction business, don’t underestimate the power of a face-to-face meeting and that means you. When clients see you, they’ll remember your company better than any other form of advertising.
How can this be done?
Social media: Use social media sites like Facebook and Twitter to engage with existing customers and potential clients. Not only will they be able to interact with your brand, but they’ll also see how personable you are as well as how professional your business is.
Email marketing: A great way for you to stay connected with current customers is through email newsletters or automated emails that go out when something happens in their lives that relates back somehow with yours (i.e., if one of them gets married). If possible, include some images or videos too! The more engaging it looks/feels when someone opens up their inbox then the better chance there will be at having them respond positively towards what’s inside – which could mean a sale later down line if done correctly!
Don’t stop marketing, but change it up to better target your customers.
Even during a recession, people are still buying homes and construction projects are still happening. However, it might mean that your customer pool is smaller than it was in the past. To retain your existing clients and attract new ones, you need to keep up with the latest trends in marketing and adjust your strategy accordingly.
It may seem counterintuitive to say that you should try out new tactics when you’re struggling to stay afloat in such difficult times—but don’t worry: no matter how bleak things look right now, there will always be opportunities for businesses who know how to adapt their marketing strategies appropriately!
In conclusion, the construction sector is – like every industry – going through a period of difficulty and uncertainty. However, there are many things you can do to market your business during this time that will help it flourish. You need to be creative, flexible and responsive; all while keeping in mind your target audience, competitors and how they’re doing things differently than you are.