It’s usually a lot of fun, and most contractors enjoy going through the process to help them gain more clarity on their business and their marketing.
So I want to share it with you >>
Simple 8-Step Marketing Strategy
It’s really hard to do any type of marketing without having clear objectives. Revenue goals, # of projects, # of leads, types of projects, geographic target area, and timelines all need to be defined. “More business” and “Get our name out there” usually don’t cut it.
2 – Understand What a Project Is Worth
What’s a typical project worth, in profit, to your company?
3 – How Much Do You Have to Reinvest?
Based on that per-project profit (or even per-month or per-quarter profit), how much do you have and how much are you willing to reinvest into marketing and advertising to go out and get more of them? This is a really important step, because this is what should be driving your marketing budget. Your marketing budget shouldn’t be driven by what you did in the past; it should be driven by where you want to go.
4 – Make a List of Marketing Channels
Make a list or spreadsheet (we use a spreadsheet) of all potential marketing channels you can think of. List all the ways you have gotten customers in the past and where you would like to try to get them.
5 – Analyze That List
Rank that list in context of how long each one will take to execute, what resources you need, how much they cost to implement, probability of paying off, etc. If you follow the 80/20 rule, 20% of your marketing channels will produce 80% of your results.
6 – Pick One or Two to Test
Let’s be honest. Unless you’re a venture-backed company with cash to burn, it’s not realistic to try a bunch of marketing channels at once. Pick one or two based on your analysis in Step 5.
7 – Commit to Your Channels
Now it’s time to commit to them. Set minimum time periods that you will try these out – 3 months, 6 months, a year – whatever. Then commit the resources you need – people, money, and time. Be realistic in what you can consistently invest, and make sure you’re not following 99% of construction companies in under-investing people, time, and money in your marketing.
8 – Track & Measure
In order to know if your marketing is working, you need to track everything – phone calls, leads, sales, revenue, etc. That’s the only way to know which channels are working and which are the most successful for you. Trust the numbers; they won’t lie.
I hope that is valuable for you as you’re planning out your marketing for 2018 and beyond. If you want help mapping this out, let’s get on the horn and go through it together. Whether we’re already working together or not, I want your business to be wildly successful this year.