In the construction industry, the significance of marketing is severely overlooked. Most companies see marketing as just a sales promotion and do not fully understand the benefits that come with a developed marketing plan. A marketing strategy can take many forms and affect all areas of the business. From brand building and relationship management, to competitor research and business development, there are several actions that can become significant business drivers if planned and developed properly.
Marketing strategies are especially needed when competing in high profile markets such as London. In these prime locations, where new entrant and high competition exists, standing out against those who offer cheaper rates is paramount. To maintain and build on your market share, your company needs to focus on maintaining customer relationships and increasing brand differentiation.
Customer relationships are integral to business success, which is why your company should focus on strengthening these relationships – a robust marketing strategy can help facilitate this. To gain customer loyalty and repeat business, there needs to be regular touchpoints at each stage of the process. From the initial meeting and tender agreement, to the project’s completion, your company needs a structured approach when reporting progress to the client. This controlled approach builds trust with the client and ensures that any change of requirements are captured.
Furthermore, there are identical services being offered within the construction industry, heightening the importance of distinguishing oneself from competitors. What is your USP? What makes your company different? Why should your company be appointed instead of someone else? These are the key questions that need to be answered. To address these, it is essential to analyse and monitor their activities, discover their targets and understand their offering. This will significantly help differentiate the business from its key competitors.
For more on how Chapman Consulting can improve and strengthen your marketing strategy, email us at firstname.lastname@example.org or contact +44 (0) 20 8977 3200.