STRATEGIC MARKETING THINKING™

Winning at Marketing is very similar to winning a horse race!

For the last several years I’ve heard of stories about construction companies that are closing down. It hits harder when you recognize the firm's name, or maybe even know the people involved. I wondered to myself if it could have been avoided. I wonder what steps were taken on the inside to prevent that decision of letting everyone go and shutting the doors. Then I drive past other construction companies and I wonder what steps they're taking. Are they also in trouble?

One important strategy to understand is that Marketing and Business Development in tough economic times is different from a normal economy. Companies that understand this concept gain a staggering strategic advantage. One of the remarkable marketing misconceptions of construction companies and design professionals is that they believe once you get your marketing program up and running, you're done. Worse yet, many companies CUT their marketing budget when they start to have difficulties. They cut programs, they cut marketing managers and in some cases, valuable business developers. What they don't understand is Marketing MUST Change; it must reflect what is happening in the current economic climate. Marketing must be evaluated based upon . . .

a) the current economic condition,

b) your company's goals and objectives,

c) your company's services, and

d) your company's ability to perform.

All of these parameters can change at any time; consequently, they must be constantly

monitored relative to current marketing efforts.

In the NEXT POST I’ll list Steps you can take to help you in tough times.