So many small and mid-sized construction companies lose sales because they struggle to differentiate themselves from their competitors. The mistake I see most often is inconsistent application of a clear message that resonates with customers and stakeholders.
Customers are trying to solve problems. In order to buy your solution, they must understand how your brand makes their life better. Your brand is one of your business’s most valuable assets. The problem is most construction business leaders don’t know why it’s so important to their success.
What is a brand?
A brand is a promise of an experience. This experience is from the customer’s viewpoint. It is your customers’ perception and reality of what it is like to do business with you. From your website to the project site and everything in between.
Customers define your brand by what they see when they walk into your office or trailer or review your reports and invoices. Your brand is defined by customers’ interactions with your employees. Are they professional, helpful, and positive?
Think of Starbucks, a company selling a commodity that most gas stations offer. Customers can walk into any store and see modern design, hear unique music, and get a hand-crafted cup of Joe by a highly-trained barista. The eco-friendly cup has a rolled lip, a lid that fits, and a recyclable java jacket so your fingers don’t get burned.
The customer experience is authentic, memorable, and repeatable. Starbucks customers resonate with the brand and often use the cup as a status symbol. It is this brand consistency that builds customer loyalty.
Return on Brand Building Investment
Investing in your brand is a smart business decision that effects all the parties that engage with your company.
- Customers – helps shape customer perceptions which influence shapes purchasing decisions.
- Talent – helps attract and retain top talent that align with your culture and build your brand.
- Stakeholders – influences board members, suppliers, and investors who understand the value you deliver.
The foundation of your brand includes your business purpose, mission, vision, and values. When you connect your brand to your purpose, mission, vision, and values you create cohesion and authenticity which increases trust in the marketplace.
A strong brand increases the chances of customers choosing your construction services over your competitors. Strong brands attract more customers at a lower cost per acquisition. Loyal customers, those who have an exceptional customer experience, are willing to pay a little more and typically buy more often. Here are some other returns you can get from your branding investment.
Close Deals More Easily
Well-defined, strategically positioned companies are easier to sell than unknowns. Ask any salesperson who is struggling to answer the question, “So what?”
A strong brand has a strong story about the value it delivers. This enables your sales team to spend more time helping customer’s solve problems. Rather than trying to convince them you are credible.
Clear, consistent brand messaging helps customers make purchasing decisions quicker and easier.
Command Higher Prices
Customers are willing to pay premium prices for brands they perceive as superior. Think about cars. The Toyota Corolla SUV will get you from point A top B for about $22,000. A Lexus luxury SUV will do the same starting at $57,000. Effective branding enables you to position your company as an industry leader with value propositions your competitors can’t offer.
Increase Business Value
At MarComm Experts, we have assisted in many new brand strategies and rebranding projects for new and established construction companies that need to improve their marketing. We work as a team with clients to make decisions on realistic and attainable goals, key performance indicators (KPIs) and proven strategies that move beyond a new logo or website. This is the first step in ensuring branding ROI success.
Your Brand is a Business Tool
A strong brand pays dividends over the life of your company, enabling you to attract more customers, reduce your marketing costs, and command higher prices for your services. If you would like to learn more about how to build your construction brand, contact us for a free consultation. Click here to schedule a call
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