Potraying Value Over Price
I’ve always summed up “What is marketing?” as simply “education”. Marketing is educating a prospect, customer, potential employee, team member, and the community about something such as your services, product, or event. If you’re not educating your target then you’re just wasting time and money.
Most in the construction industry forget to explain their value and default to being the cheapest price. This morning I read a great Twitter profile by Blueprint Ltd that quoted Red Adair, “If you think it’s expensive to hire a professional, wait until you hire an amateur.” That shows the value in hiring an experience professional. The next step is to differentiate your company from your competitors by focusing on what your company does better than anyone else. After all, if you are no different than anyone else, why are you in business?
Unless you have a specific niche talent in a vertical industry it is hard to charge whatever you want so you still have to be competitive. Would you prefer to have 10 projects at $1 million or 8 at $1.25 million? You should be able to devote more time to 8 projects than 10 and give a better experience to the customer. Now, think like a consumer going to eat tonight, will you pay more for a quality meal, better service, and a nicer atmosphere? You probably do and that is why so many quick-service restaurants are emerging that offer a better meal than the traditional fast food chains.
Remember when you’re marketing your construction company to consider what is your value and tell people about it. No reason to hide the goods.