As we approach the close of the third quarter, it’s important to reprioritize business growth. Most companies roll out their initiatives to expand profit margins at the beginning of the year with great enthusiasm, but as the dust settles through the second quarter, motivation loses steam and operations revert to “business as usual”.
We may be over half way through the year, but that doesn’t mean we can’t find new opportunities to grow. The service industry is especially posed to excel in the coming months of 2019; the dead-hot summer will soon give way to the chilly winter months, meaning HVAC technicians, electricians, and general contractors are likely to see a spike in business. If you’re in the industry and would like to grow your company in the last few months of 2019, here are three different strategies to help you achieve your goal.
- Take a Look at Your Brand
When business slows down and becomes a bit stagnant, it’s time to take another look at your business brand. There are a few signs that might suggest it’s time to rebrand your company and come up with a stronger image; do any of these circumstances apply to you?
- You want to tap into a new market
- You are planning to expand
- You want to shake off the old image
An iconic brand is what lives in the minds of your customers and is what people will remember you by (that is, if they remember you at all). If you have a good company logo, emblazon it across various marketing and promotional items to amplify the amount of impressions it receives. Pens, hats, t-shirts, water bottles—your options are truly endless.
- Mix Up Your Marketing Strategy
When business is steadily flowing, you might not think about your need for expansion. You’re in the green every month, so why bother to find funding to grow business even further? Unfortunately, while “steady as she goes” is a comfortable place to be, it’s also an insecure circumstance. As the old adage goes, “If you’re not growing, you’re dying”.
One way to continue on a path to securing more service jobs, building a base of loyal customers, and expanding your team of technicians is to implement a new marketing strategy. Too many contractors make the mistake of having a generic advertisement campaign when you truly need to hone in on your target audience and niche position within your field.
For example, if you’re brainstorming how to market an electrical contracting business, you should start by identifying exactly which type of jobs you’d like to receive more of. Replacement of electrical systems in existing buildings, or new construction projects?
Once you know exactly what type of customer you’re looking for, you can figure out where to find them. If you have the goal of acquiring bids on new construction jobs, then your marketing should be directed to architects, developers, and general contractors. Removal, repair, and maintenance jobs are more likely to be sought by homeowners and property managers, so you should market your company accordingly.
- Build Your Loyalty
You have a better brand image that easily pops into the minds of your customers; you have a tailored advertisement strategy that’s generating more leads and booking more jobs; now, you need to secure those customers and work on earning their loyalty.
One of the best ways to do that is through a robust CRM platform. CRM stands for “customer relationship management” and it refers to the methods you use to retain your existing customers. You could have the catchiest slogan or the most iconic business card out there, but you could still be forgotten about if you don’t make the effort to stay in contact.
There are many different CRM software packages that can help your small business. Find one with the exact features you need, such as the ability to reach out to a person within your database who received service three months ago and could benefit from a friendly reminder that it’s time for routine maintenance. In the service industry, it’s pretty common to not receive a job until it’s “too late” and something happens that demands an immediate fix (such as a pipe bursting or the A/C going out on a hot summer day).
If you stress that proactive service is often cheaper than reactive solutions and keep these three strategies in place, you’ll be well on your way to expanding your business in 2019.