Part one – Understanding the construction market
If you are looking to improve the effectiveness of your marketing for construction markets here is the first in a 3-part series which looks at the key stages you need to consider based on our specialist expertise and award winning strategies for building materials and the construction sector.
Developing a business strategy for marketing your products and services to construction markets is far from straight forward. Understanding the complexity of the market structure and the interchange of relationships between specifiers, influencers, decision makers, buyers and installers requires a specialist approach.
Consider the following questions:
- Do we understand which market sectors to target / which offer the most potential?
- Do we understand how our market works?
The approach you need is to identify which sectors offer the most potential for your products and services and where you are able to offer the most value. Successful targeting is about focus. Target those sectors where you have the strongest competitive advantage. You should also consider the type of projects and contracts best suited to your offering for example new build or RMI, private or public sector, traditional or design & build. If you choose to target project work through public sector procurement and framework agreements, do you have a bid and tender management strategy to ensure an effective win rate?
Understanding the decision makers
How much of the time and investment your company spends on promoting its products and services is effective and how much is wasted? Can you answer these questions:
- Who are the key decision makers?
- At which stages in the process are decisions made?
Like any other market it is essential to understand your target audience, who they are, how they operate, and what are the key drivers and criteria used in the selection process. Suppliers must understand the decision making team, often determined by the form of contract in use. Generally the key contacts will be the Client, Architect, Interior Designer, Civil Engineer, Building Services Engineer, Acoustic Engineer, Quantity Surveyor, and the Main and Sub Contractor. Each of these may in turn include several people in the team e.g., within the same practice a senior architect may oversee project key decisions whilst the architectural technician may make final selections on product detail.
Understanding how selections are made, who influences the decision and the key leverage points along the way are essential. For building materials manufacturers maintaining relationships with the key players in the decision making process can strengthen and protect your specification. You will need to manage the specification chain and understanding who has the power to change the decision in the process.
In the next article in this series we will explore the key drivers for the construction sector and how to identify your competitive advantage to set you apart from the rest.
To find out more about how you can improve the effectiveness of your marketing for construction markets contact us at firstname.lastname@example.org for a free initial consultation or for more advice on business strategy and marketing expertise.
How your strategy can benefit from reach-mc
- Specialists in business strategy, marketing expertise & business development, leadership and management, product management, new product development and effective marketing campaigns.
- Specialist expertise for the construction and property, manufacturing and distribution, building materials, drainage and water management, renewable energy and home improvement sectors (bathrooms and kitchens, tiles and flooring).
- Successful track record targeting architectural specification, building contractors, housing developers, installers & contractors, and distributors.
- Winners of the Construction Marketing Awards 2014 for strategic planning and management.
- Leo Aspden, founder of reach-mc is an approved High Growth Business Coach, a Chartered member of the Chartered Institute of Marketing (CIM), Steering group member of the Chartered Institute of Marketing Construction Marketing Group (CIMCIG) and a Fellow of the Chartered Management Institute (CMI).