The latest Insolvency Service report reveals that about 266 construction businesses collapsed every month within three months into October last year since the pandemic began, according to the Financial Times. Shortage of skilled workers and rising costs of running business are the key factors contributing to the collapse of hundreds of construction companies. Nonetheless, the construction industry is a competitive field, meaning chances of survival are always limited.
Today, your company’s ability to stand out from the crowd is the key to receiving invitations to bid for projects and survive in the market for extended periods. To achieve the best outcomes, you can choose to invest in direct marketing or take an all-round approach to construction marketing. However, you must avoid phrases overused by marketers and the rush to simplify the marketing process. Below are a few steps to ensure your construction company stands out from the competition.
Redesign Your Products and Services
The first step to setting your construction company apart from the rest of the competitors is redesigning your products and services. Invest a considerable amount of time researching what your target clients want. Find out which home designs property buyers are more likely to invest in, the construction materials they prefer, and how much they will spend.
Understanding the needs of potential homeowners helps you create unique products and services that set you apart from the crowd. For example, let’s say your target demographic is more concerned about their carbon footprint. Consider using eco-friendly building materials like reclaimed wood, metal, recycled plastic, and bamboo to meet consumer demand.
Implement The Right Branding Tactics
Branding is vital to the success of any construction company as it is for businesses in other industries. So, whether you’re a remodeler, construction product manufacturer, or home builder, you need to create a brand people can recognize easily. Make sure your target consumers understand what you do and improve brand visibility across all marketing channels. Branding for homebuilders is a straightforward process as it entails designing a unique logo that defines your brand and establishes customer trust.
Another important aspect of branding is the tagline. When writing your company’s tagline, avoid using business jargon or overused phrases like top notch or second to none. Instead, create a tagline that’s easy to understand and recognizable even without graphics. You’ll also want to choose a memorable name for your company, provide a physical address, pick corporate colors, design and optimize your website, and leverage content marketing.
Invest In The Right Technologies
Besides branding your business and redesigning products, consider leveraging advanced technologies in the construction industry. Modern technologies aim to boost productivity, efficiency, reduce operational costs, and improve safety. Technology also helps you improve the quality of products and services to meet the unique needs of your clients. Investing in wearable technology, like smart boots and power gloves, artificial intelligence, robotics, drones, 3D printing, and virtual reality convince your clients that your company is reliable and dedicated to providing quality products.
Establishing a profitable business in the construction industry can be challenging because of competition. However, it’s possible to succeed if you set your company apart from the rest of the crowd. To achieve the best outcomes, follow the right branding techniques, redesign your product offerings, and leverage modern technologies.
