Building Success in a Downturn: Why Construction Companies Must Embrace Digital Marketing to Survive the Recession
The world is currently facing economic uncertainty because of the COVID-19 pandemic. Many businesses, including construction companies, are apprehensive about continuing to invest in digital marketing. The reality is that construction owners need to rethink their approach to digital marketing during this recession and anticipate a longer-term effect on their businesses.
Many construction companies tend to pause or rapidly downscale their marketing efforts during a recession because they believe that marketing is a luxury they can no longer afford. However, this could be one of the gravest mistakes any construction company could make during a recession. Here are some reasons why construction firms need to invest in digital marketing during this period:
Reaching a Wider Audience
In a recession, consumer confidence falls, and fewer people will be able to afford a construction project. However, in times of uncertainty, people will always be searching for ways to protect their investments. A well-designed website and a smart digital marketing campaign can position your construction company as a reliable, trustworthy option for people searching for information on construction projects.
Investing in digital marketing during this downtime is an excellent way to increase the number of potential clients you reach. As everyone is spending more time at home and online shopping has increased by 50 percent since the COVID-19 pandemic, a strategic digital marketing campaign can help you stay top-of-mind with potential customers.
Strengthening your Brand Identity
A strong brand should be an essential aspect of a construction company vying for a competitive advantage. Invest the downtime in building a strong brand strategy and design to make your firm’s materials stand out in the crowded construction space. Concentrate on bringing clarity and consistency to all your communications and inspiring customers to trust your brand.
With digital marketing, collecting reviews and feedback from satisfied customers is easy. This feedback can help build confidence in your company’s abilities and comfort to potential customers as they make their hiring decisions.
With a pandemic making strong impression on everyone, positioning your digital communication around cleaning measures and social distancing practices construction practices can make all the difference.
Targeting Qualified Prospects
With more people searching for information about home improvement projects and considering building new properties during the COVID-19 pandemic, you need to ensure that you are visible to potential clients who are searching for your services. With digital marketing, it is easy to utilize search engine optimization (SEO) and search engine marketing (SEM) to increase your visibility and generate organic traffic to your website.
Sales and marketing teams should collaborate cross-departmentally on identifying prospects, and creating and managing campaigns capturing potential leads with digital platforms. With digital marketing, qualified prospects can be targeted through email and social media ads based on their search criteria, geography, age, gender, and interests, among other factors.
This aims to provide high-value leads to sales teams and drives the return on your marketing investment.
Cost-effective Marketing
One of the advantages of digital marketing is its cost-effectiveness compared to traditional marketing methods such as ads in the paper, radio, and billboards. As with traditional marketing, there is no guarantee of a return on your investment; however, lower investment costs on platforms like Facebook and Google Ads enable your advertising budget to be used more efficiently.
During this recession, taking advantage of the lower cost of digital marketing can be advantageous for construction firms looking to reach customers without spending a fortune. It is important to also focus on long-term assets like blogs, social media handles and well-written pages, which can generate organic traffic to your website and serve as complementary pieces to any SEM initiatives you have. It is vital to remain visible and compete even during a downturn.
Preparation for the Future
Digital marketing is critical in giving construction businesses a competitive advantage in the ever-evolving construction industry. Conservative construction companies who hold off on investing in the development of their digital marketing strategies and remain stationary during trying times will inevitably have a difficult time sustaining in the long run.
By investing in effective digital marketing campaigns, construction companies can prepare for the future, even during a recession, and strengthen their position in the industry.
By creating loyal customers who enjoy incredible experiences with your company, they’ll be more likely to refer you to others they know. By taking a proactive approach to your digital marketing during this period, you can position yourself to be as successful as possible – both during and after the recession.
Conclusion
During this uncertain time for many, construction companies should not relent in their marketing efforts, but instead, they should invest on digital marketing. Because many companies will pause digital marketing, businesses that continue can expect an increase in return on investment due to the lower competition and lower costs of advertising, SEO, SEM, and social media marketing.
Digital marketing initiatives complement business goals and drive sales, making it crucial to the long-term success of your construction firm. With the rise of demand for home improvement, now is the time to build your brand and acquire new clients, which will keep you a step ahead after the recession.
