So how valuable is a marketing strategy?
Very. Just like a good blueprint leads to a better home, a good marketing strategy leads to a better, more profitable business. The time spent on this is really an investment in your company’s future.
Yet, 49% of small businesses don’t have a marketing strategy or plan, according to Smart Insights.
That’s a shame. Because having one leads to less wasted time and lost opportunities.
Why does a General Contractor need a marketing strategy if he’s been fine without one so far?
Sure, you might be getting plenty of referrals and business is good, but what happens if that changes or stops altogether? That’s not the time to start thinking about a marketing strategy.
Set a plan now for more consistency and to counteract future problems.
If you have ideas in mind, that’s a great start. But a written marketing strategy will force you to set goals in a more concrete way, so you can aim for growth without wasting time and money.
The key words above are “without wasting time and money.”
All too often, we see business owners who make marketing decisions based on spontaneous choices or the salespeople they meet. In other words, they’re talked into buying ad deals or promotions that really don’t fit their needs or hit the right audience.
A marketing strategy will:
- Force you to put your marketing dollar where it’ll help you most
- Set measurable goals for your business
- Keep your team motivated and on the same page
- Help you assess the value of marketing or ad opportunities
Overall, a marketing strategy will help you focus on the things that will grow your general contractor business.
Who has time for marketing?
Time and resources are in short supply for business owners, we know. But a little bit of expert help can go a long way.
You can save time by…
- Getting help from a marketer in both building a strategy and executing the plan
- Or creating a plan yourself and hiring someone to carry it out
- Or hiring a consultant to turn your goals into ideas or a tactical plan you carry out
Yes, a marketer or consultant is included in every option above. That’s because small businesses that do their own marketing are least satisfied with their results compared to those that get outside help (Source: Street Fight Magazine).
A consultant or marketer can help you avoid costly mistakes and get you started more quickly.
How long should it be?
A fully researched marketing plan can include an analysis of your competitors, as well as your own strengths and weaknesses, etc. There’s a lot of value in doing this research to see where your business falls within the market. But it doesn’t have to be a 50-page document.
The resulting strategy can be as simple as two pages. In fact, the simpler it is, the better.
The simpler, the better
We’re not fans of marketing plans in hefty binders that will sit on your shelf collecting dust. A short 2-page summary of your strategy and plan will be easier to follow and easier to communicate to your team.
A simple marketing strategy should include…
Your Value Proposition or Unique Advantages
How does your service differ from others in the market? What strengths or unique advantages do you offer? You’ll need a unique advantage if you want to stand out and get attention.
Who makes up your target audiences? Understanding your potential customers will help you realize how to reach them and which of your strengths would appeal to each group most.
How will you communicate with your target audience? How will you convey the message? Does your customer need more education on how your service solves their problem? What are the marketing channels at your disposal?
Short- and long-term goals can be included in your strategy. Make sure they’re specific and measurable. This will help you decide which tactics are best for reaching your goals. Click to read more about setting social media goals.
Keeping it simple will make it easier to update as your business matures or if your customers’ needs change.
Have any questions? Let us know below or send an email.