You may have great aspirations for business development but are those aspirations delivered. When only 47% of forecasted business is secured isn’t it time to close that gap?
Do you have expectations that your construction company will grow? Read on to learn how to take your construction business to the next level with 3 business development tips.
Invest in Business Development
Do you invest in business development? If you don’t, you should not be surprised if business growth is slow or non-existent.
Have a dedicated budget for business development investment. How much you allocate is up to you but consider what new business is worth to you. Would 1% of revenue be too much?
Your business growth is worth investing in. Effective business development talent is hard to get.
If you believe your business sustainability is dependent on it, then at least invest in some talented people. And give them the resources to deliver.
You might think that the construction business is an offline business. You can’t construct buildings online. It’s easy to disregard the opportunities that the online world could be offering your business.
Taking your business online gives you access to customers who spend most of their time online. Get a website. A website can sell your services 24/7 and provide them with the means to contact you.
Social media marketing can direct people to visit your website and to contact you. Advertising through social media can target your potential customers. It can also help build and maintain relationships with them.
Search engine optimization can help provide people searching for building contractors with your details whenever they use Google search. A few carefully chosen keywords and some helpful content and you can increase your ranking in their searches.
A construction invoice might seem the natural and satisfying conclusion to the construction job. The customer has their construction project completed and you get paid.
The completion of a construction project should be the beginning of a deeper relationship. A satisfied customer can be a very powerful support to your business development strategy. At the same time as sending the invoice, you should also be enrolling them as an advocate for your company.
A recommendation by a satisfied customer may be the most effective marketing you can imagine. Building a relationship that encourages this should be an aspect of your business development activity.
There are of course other relationships that could develop new business. Non-competitive business relationships could be an excellent source of new business. Architects, designers, plumbers, and other business partners could be useful contacts.
Actively recruit these business partners in mutually beneficial new business development. Coordinate your marketing to get at a bigger pool of potential new business.
Go for Growth
New business development provides the growth you need. It can make your construction company sustainable. Investment, technology, and relationships are three key areas for your attention.
Browse our website for more business advice.