Strategic Marketing For Construction and Real Estate Companies

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There seems to be a gap between expectations and reality when it comes to marketing.
Construction and real estate professionals often ask where they should advertise that will get them results tomorrow.
Should they be in print? If so, what publication? Should they try radio or TV? The answer might be all or none depending upon goals and objectives of the company.
Here are some tips that might help you decide where to spend your marketing dollars: Define your target market.
Try to be an expert to everyone and you'll probably be good at nothing and mediocre at everything.
Most companies would be better off identifying market sectors to target and remain focused on these specific niches.
Decide which markets fit your strengths and stay focused in these areas.
Establish a budget.
Knowing what you have to work with is important.
Determining what you can spend also helps when it comes time to decide what investments are most likely to produce the highest possible returns.
Set realistic goals.
Too many companies have unrealistic expectations when it comes to marketing and abandon campaigns before they're allowed to work.
Company X, for example, may send out 300 brochures and then decide that direct mail doesn't work because they didn't get any inquiries.
It may take as many as 36 contacts with a prospect before they even recognize your name.
Marketing is not a sprint.
It's a marathon and takes a long-term investment of time and commitment.
Develop an implementation and action plan for marketing.
Once you know the prospects you want to reach, it's time to decide how to position your company so that prospective clients in your target market will want to call you when it's time to hire for construction or real estate consulting services.
Identify what they read, where they network, who they use for other services because this knowledge will help you decide where to spend your marketing dollars.
Don't forget your existing clients.
I am often surprised at how much time companies spend trying to get new clients when there are existing clients waiting to work with them.
It is usually a lot less expensive to get work from existing clients than it is to get work from new ones, yet discounts and incentives are often given to those we've never worked with previously.
Give the breaks to existing clients and have a plan to keep your name in front of them to remind them that you exist and are ready to work with them when the time comes.
Finally, marketing doesn't have to be expensive to be effective.
The best companies actually spend less than their competitors and yield significantly better results.
Put together a good strategic marketing plan and see new business start coming to you.
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