5 Ways Construction Businesses Can Gain New Clients

Published on: 18 August 2018 Last Updated on: 21 June 2021

Construction companies have historically gotten new clients primarily through referrals. However, sometimes referrals are not enough – but unfortunately, companies cannot expect customers to magically appear on their doorstep.

Luckily, there are other creative ways that contractors can boost their clientele. If your business is struggling to engage new clients, then consider the following tips to reach more potential customers and increase your profits.

1. Introduce Yourself to the Neighborhood :

When working on a project don’t be afraid to introduce yourself to the residents of the neighboring houses. Showing concern for the wellbeing and satisfaction of the whole neighborhood lets everyone know that you run a caring organization. If those neighbors ever need any services in the future they will remember the personal interactions that they had with your company.

Additionally, if any neighbors need work done immediately you could offer them a neighbor discount. You will save money on transportation by working on two projects near each other so that the discount will not hurt your profits.

2. Educate the Public :

Organize meetings with members of the public to teach them about construction techniques or anything related to your field that you have expertise in. Investing in the education of the general public increases your profile. It also helps your business for the public to see you as an expert in your line of work.

You do not need to try to specifically market your business. When they have questions or concerns in the future about construction projects they will come to you for advice and possibly to even do the job. You could potentially partner with a local restaurant to provide food to engage with the public even further.

3. Follow-Up with Your Current Clients :

Offer to be of service to your past and current clients. See how the project you did for them is holding up. Offer to make touch-ups. Keeping up with connections you have made in the past will keep you in the forefront of your clients’ minds.

This will make your clients more likely to think of you again for future projects and to recommend you to anyone else they know who may need contracting help. This is a roundabout way to get referrals without directly asking for them.

4. Focus on Achieving Accreditations :

Accreditations can help build the prestige of your company; especially if you study for and gain a contractor’s license. The more you can show your clients that you are qualified and experienced the more likely they will be to employ your services.

Learning more things can never hurt you either. Getting more training can really help you to get ahead in business. You will be better able to serve your clients and your clients will easily be able to see that you have the qualifications to get the job done right. Additionally, it may be a good idea to send out press releases when you do receive an accolade to make sure that the public is aware of your recent achievement.

5. Attend Industry Events :

Attending industry events can help you to stay up to date with the latest trends in the construction industry. They also can help renew your motivation and interest in your field.

Being surrounded by like-minded individuals can help you to feed off their industry. Additionally, the right events can help to introduce you to people who can expand your business and help you to get in contact with new potential clients.

The construction industry needs to acquire new clients just like any other industry does. However, since many contractors spend a significant amount of time out in the field, they cannot spend as much time in the office or in prospecting meetings. They may need to employ some more creative tactics such as the ones above.

Hopefully, the techniques described above will help you and your business to come in contact with some new potential customers that will help your company to grow and prosper.

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4 Upgrades Every Modern Call Center Needs

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Financial planning is an essential aspect of any business, and for contractors, it's no different. In the construction industry, project viability relies heavily on careful financial management. This article will explore the principles of effective financial planning for contractors and how using a bid bond can demonstrate financial stability and attract clients. The Importance Of Financial Planning For Construction Companies The construction industry is highly competitive, and its dynamics and the economic scenario are changing continuously. Therefore, it is important to have a plan in place when it comes to navigating regulations, compliances, and even finances. This section mainly discusses the importance of financial planning for the construction companies. 1. Navigating The Landscape Of The Construction Industry As mentioned above, the construction industry is rapidly changing. Every now and then, you have new rules, guidelines, compliances, and changes in technology. 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It assures project owners that you have the financial capacity to complete the project. By including these bonds in your bids, you signal to clients that you are financially stable and capable of fulfilling the contract. This can set you apart from competitors and instill confidence in project owners. Financial Planning For Contractors Emergency Fund As mentioned earlier, cash flow can be unpredictable. Having an emergency fund that covers at least three to six months' worth of expenses can provide a safety net during lean times or unexpected setbacks. Diversify Your Client Base Relying on a single client or type of project can be risky. Diversifying your client base and the types of projects you take on can help stabilize your income and reduce vulnerability to market fluctuations. Regularly Review And Adjust Your Financial Plan Financial planning is not a one-and-done task. It's essential to review and adjust your plan regularly, especially as your business grows and evolves. Insurance Coverage Consider various insurance options to protect your business against unforeseen events. Liability insurance, workers' compensation, and equipment insurance are just a few examples of coverage that can safeguard your financial stability. Invest Wisely Make informed investment choices for any surplus funds you may have. Consult with a financial advisor to develop an investment strategy that aligns with your long-term financial goals. Conclusion In conclusion, financial planning is a critical component of a contractor's success. It ensures project viability, stability, and, ultimately, the growth of your business. Remember to create a comprehensive budget, manage your cash flow efficiently, and explore various financial strategies to secure your financial future as a contractor. By following these principles, you can build a strong foundation for your contracting business and thrive in the competitive construction industry. Read Also: Construction Safety – What You Didn’t Know! All You Must Know About Construction Business Management Software Construction Safeguards: What Are The Top 3 Leading Risks For Machine-Related Amputation?

5 Ways Construction Businesses Can Gain New Clients

1. Introduce Yourself to the Neighborhood :

2. Educate the Public :

3. Follow-Up with Your Current Clients :

4. Focus on Achieving Accreditations :

5. Attend Industry Events :

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Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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4 Upgrades Every Modern Call Center Needs

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Financial Planning For Contractors: Ensuring Project Viability

5 Ways Construction Businesses Can Gain New Clients

1. Introduce Yourself to the Neighborhood :

2. Educate the Public :

3. Follow-Up with Your Current Clients :

4. Focus on Achieving Accreditations :

5. Attend Industry Events :

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How to Select a New Shopping Center Site

How to do bookkeeping in Malta minus complications

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

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