Welcome to the corporate world! Whether you are in a construction business or in real estate an effective marketing strategy is required to create a win-win situation in every industry. An effective marketing strategy is the one which includes various activities to engage the consumer and increase sales in no time. Unfortunately, many builders make common marketing mistakes that delay their business growth.
Let’s find out those marketing mistakes with Bruce Entezam.
Lack of a Marketing Plan
To build a successful marketing strategy, it is essential to clarify the goals of your marketing program and how you plan and execute to achieve them. Let’s take a few example goals:
- Promoting your construction business
- Fetching new clients
- Getting existing and loyal customers to buy more
Of course, the marketing goals need to be an addition to your business objectives. Simply targeting an increase in sales is not enough. Furthermore, you need to be specific about where to spend your marketing budget and when measuring the success of the campaign.
Perhaps the most common marketing mistake many construction companies make is not having a defined plan of action. According to experts in the construction business, if you do not have a plan, your campaigns will be ineffective and ad hoc. Furthermore, they advise builders to decide on the channels to use, prepare a budget, and measure your results to maximize your marketing investment.
Operating Without a Solid Budget
To formulate a successful marketing budget, you need to put a lot of input, time and thought. However, most time small-sized builders exclude their marketing budget when trying to balance their operating budget. Unfortunately, considering that marketing is not an expense, but an investment is a big mistake most builders make. Therefore, it is advisable to formulate a marketing budget as well in order to create a successful plan.
Poor Understanding of Your Target Market
If you don’t understand who your target audience is, Bruce Entezam advises you to consider your past clients as they are probably the best indicator of your future clients. Once you have collected all the data you need, the next step is preparing your marketing strategy with the target market trends.
After determining the target audience, you need to analyze where to find them and the best channels to use to reach them.
Lack of an Online Presence
In the era of internet, most companies don’t have an online presence or website. Moreover, those businesses that do have online presence fail to take advantage of the several marketing opportunities available like content creation, social media, etc.
Today, most customers prefer online platform to search for businesses. Therefore, it is essential to make the use of inbound marketing with an active website that provides reliable and fresh content to consumers.
Failure to Leverage Email Marketing and Mobile Strategy
Email marketing remains an effective marketing tool for businesses across different industries. Therefore, you are making a mistake if you are not implementing email marketing into your overall marketing strategy.
According to famous leader Bruce Entezam, email marketing remains one of the most cost-effective ways of marketing a business and its products/services.
To make your marketing strategy successful, always identify your target audience; have a strong marketing plan and budget; and remember to take the advantage of social media, email marketing, search engine optimization, and mobile strategy.
So, these are the most common mistakes most builders make while formulating a marketing strategy. If you are in the construction business, do not forget to consider these points before making a marketing strategy.