Building Industry Hawaii March 2015 - (Page 66)

BEST PRACTICES Your Company's Marketing Engine: Is it Time for a Tuneup? BY GARRETT SULLIVAN W hen you mention marketing to contractors, the first thought that probably comes to their mind is Facebook, Twitter and any one of myriad social networks. In reality, marketing is about building relationships with prospective clients, and improving relationships with existing ones. All marketing falls into one of two varieties: "push" and "pull." Push marketing means putting out useful information relevant to your customers' purchasing decisions. This might take the form of newsletters, images demonstrating your contracting expertise and informational updates to help improve your clients' business. Pull marketing occurs when a potential customer reaches out to you to better understand your company's value. This requires demonstrating that you have the Database: Contractors need to know who their customers are and keep track of them effectively. Potential customers often conduct preliminary research before they buy, and your database should be ready to circle back to them at a later date when they are ready to make a choice. Budget: As with all campaigns, marketing costs money, and you need to allocate an appropriate budget relative to your company's size. Just because you're a small contractor doesn't mean you can go without an effective, wellcalibrated marketing engine. Target market: Reaching your target market requires research, whether it's by you, your staff or an outside marketing service. "What is the goal of our marketing campaign?" "Who are we trying to reach?" "What is our strategy?" These are the questions your research will need to inform. expertise to become an educator in your field. Pull this off, and potential clients will be more likely to see you as the right firm for their project. Pull marketing can include websites, radio/newspaper advertising, articles of interest in the local paper, pay-per-click advertising and listings in industry directories. Understand that marketing and advertising aren't the same thing. To illustrate the difference, imagine writing a book. All the early preparation in the process- researching, finding an agent, deciding on cover art-are part of the marketing side. Advertising is when the book is complete and you start looking for ways to sell it. Contractors with a well-aligned marketing plan see more buyers and higher profits. Here are six steps to turn your marketing engine into a lean, mean machine. Website: In addition to highlighting your company's strengths, your website should be open to your customers as a resource of useful information. Helping solve customers' problems will build brand awareness. Company brochure or catalog: Professional photos of past building projects can go a long way in the mind of a potential customer. Consider preparing separate brochures for each of your specialties so you can present the appropriate one to specific clients. Bear in mind, brochures have a short life before seeing the inside of a trash can, so adjust your budget accordingly. Industry associations and active community involvement: "Know me, trust me and then please buy from me." Businesspeople want to do business with people they trust. Getting involved in industry associations and community organizations are a great way to build relationships. If you aren't already involved, start by volunteering on a committee in an area of interest to you. Once you understand the organization's mission, take on more responsibility. As more people see you serving the organization, they will begin considering you for work. Now is the time to rev up your marketing engine. If, for instance, your goal is to increase your market share in pervious concrete by 10 percent, start with a benchmark for your research and, as with all construction, measure the increase as a result of your campaign. Even a well-crafted marketing plan can't cure poor quality work. But a fine-tuned marketing plan will help calibrate your market share in an increasingly competitive marketplace. More importantly, it can develop lifelong, trusting relationships with your clients. Garrett Sullivan is president of Sullivan & Associates Inc. and acts as a trusted confidant to contractors as well as helping them clarify, simplify and achieve their goals and vision. Connect with him at GSullivan@SullivanHi.com, www.SullivanHi.com or 808-478-2564. 66 | BUILDING INDUSTRY HAWAII | MARCH 2015 http://www.SullivanHi.com

Table of Contents for the Digital Edition of Building Industry Hawaii March 2015

FINANCING & DEVELOPMENT
BONDING & INSURANCE
AIRPORTS & HARBORS
INTERVIEW WITH RICK HOBSON
MULTIGENERATIONAL BUILDERS
GUAM’S NEW ZONE
News Beat
Datebook
Back in the Day
Contracts Awarded/ Low Bids
Spotlight on Success: dck-ecc Pacific Guam
News Makers
New Products
Faces: ABC Hawaii Ceremony
Faces: AIA Honolulu Kicks Off 2015
Faces: Showtime for BIA-Hawaii
Best Practices

Building Industry Hawaii March 2015