General Contractor Marketing Plan
Marketing your construction business isn’t hard when you have a strong marketing plan. They allow you to identify your market and consumer base to make sure that all of your marketing efforts are as effective as possible.
We’ve put together an easy-to-read guide highlighting the 6 most important steps to follow when creating your marketing plan.
1. Establish an Objective
When developing your construction marketing plan, there needs to be a clear objective, otherwise you’ll end up wasting your time and money.
For example, your goal may be to increase traffic to your company website, thereby increasing profits. Each component of your marketing plan should be working toward that objective.
Every step in the development of your marketing plan will yield data that will function cohesively to inform your business decisions.
Once you have this key objective established, you’re ready to dive into the process of designing the perfect marketing plan for your business.
2. SWOT Analysis
The SWOT analysis is essentially a document that organizes the following details of your company:
The primary purpose is to improve your company’s ability to remain fully aware of all factors relevant to your decision-making and management processes.
This analysis must be used before you commit to any type of business decision, whether it’s improving your day-to-day processes or an overhaul of current business operations.
Below is an example of what the SWOT analysis should look like:
Some of the most important “business factors” that are included in a SWOT analysis for construction company marketing are:
- Physical resources (i.e., office space, tools & equipment, etc.)
- Financial resources (capital that is flowing both into and out of your company)
- Business operations (software systems, employee management practices, etc.)
Once you have your analysis drafted, you can arrive at a strategy that resolves the identified weaknesses, reduces/eliminates the associated threats, and capitalizes on strengths and opportunities.
3. Market Analysis
Without data informing your marketing efforts in the construction industry, you run the risk of wasting time and money on advertising services that people in your market might not want or need.
The ideal market analysis will acquire data on your industry, competitors, and your target market. Based on that data, you need to develop a strategy on how you can make your business stand out in the existing market. An effective market analysis will start with the following elements:
- A description of the current construction market in your area + relevant projections
- Your target consumers
- Analysis of competitors within the industry and market
Make sure to collect statistical information when identifying your target market. This will give you the relevant insight you need so that you can outperform your competitors locally.
4. Marketing Budget
Arguably the most important piece of a marketing plan is ensuring that it has a strong return on investment (ROI).
You don’t want to dump money into a marketing venture that will fail to bring in new customers.
To get an idea of the budget that will work best for you, consider this:
Most small businesses with an annual income of less than $5 million will dedicate around 8% of that income to marketing.
If your company made $250,000, you would want to spend around $20,000/yr on marketing to stand a greater chance of increasing your profit margin than if you were to simply spend what’s left over after standard operations.
You should never allow your marketing budget to be dictated exclusively by whatever happens to be your disposable income per month or year. It must be considered as an essential element in your business process.
5. Develop Strategy
Now you’re ready to put together a solid, executable strategy. This is where you must begin to establish the perfect marketing mix. A marketing mix is the collection of techniques used by your company to promote your services. Your mix should be centered on the four Ps:
- Product (or in our case, service)
All data collected up to this point will have informed you of the first three Ps. Now, your focus should be on Promotion.
Though physical mail is still a useful tool, it is not as powerful in its reach and conversion potential as digital marketing strategies, specifically search engine optimization (SEO) and pay-per-click (PPC) ads on Facebook and Google, for example.
The average American spends approximately 5.4 hours on their phone daily and the global average for social media browsing is approximately 2.25 hours per day. When combined with the additional screen time on tablets and computers, you are far more likely to reach your target audience through digital marketing efforts than physical mail (which they’ll most likely toss to the side upon receiving it).
6. Monitor Results
Once your marketing plan has been implemented, you’ll need to monitor the results, otherwise, you won’t know which elements are performing well and which need to be tweaked.
Working with a professional marketing agency will provide you with the tools you need to monitor your campaign performance. Such tools include:
- Website analytics
- Conversion tracking for ad networks
- Customer Relationship Management (CRM) platforms)
Not only will a reliable SEO agency provide you with these essential tools, but it will also manage these monitoring efforts for you. A reputable SEO agency will also provide regular reports to keep you informed on the success of your company’s efforts in marketing your construction business.
Marketing a construction company with traditional techniques of the past is ineffective, and will cost you more time and money than the current digital marketing options we have available today.
Some of the biggest disadvantages of traditional marketing strategies, such as printed ads in magazines and newspapers, physical mail, and telemarketing include:
- Little to no interaction with your target audience
- Expensive in terms of ROI, which, in this context, would be significantly more difficult to monitor
- Poor conversion ratio
- Difficulty in receiving feedback from your target audience
Digital marketing, on the other hand, offers a substantially greater probability of success.
More than 94% of your clients research contractors online before hiring them.
The world of marketing is changing, offering business owners, general contractors included, a plethora of highly-effective tools and techniques to reach their audience in ways they never could before.
Marketing in the construction industry can be tough to navigate. To experience the full benefits available through digital marketing get in contact with us today for a free 30-minute strategy consultation!
With the help of Get GC Clients, you’ll see your business’s revenue grow substantially.
Leave the old marketing techniques in the past and transition fully into the digital age of business operations and customer relations.