Will Your Marketing Build on Construction Growth?

This week’s news that the UK construction sector returned to growth in May after six months of contraction is great news. As usual, however, the fanfare that accompanied the story was somewhat subdued as the Markit/CIPS construction Purchasing Managers Index at its heart indicated only a modest upturn, largely in the housing sector.

Nevertheless, news that housebuilding is growing at its fastest rate in 26 months is an extremely positive indicator for all those involved in the construction sector and the question for those still struggling to equate their experience of the marketplace with the statistical evidence is….. what are you going to do about it?

Whether a market is buoyant, static or in decline, there are always two inexorable truths that any business has to face:

  1. There is always business out there – you may just have to work harder, think smarter and move faster to win it
  2. Business won’t just land in your lap – you need to identify where it is and how to win it

A strategic and sustained approach to marketing aligned to your business strengths and knowledge of your marketplace can be the answer to both of these fundamental principles. Marketing your business in a way that gets you noticed, helps you stand out from the competition and clearly communicates your value proposition is the only real answer to competing in a tough commercial environment.

A small but significant upturn in the sector indicates that now is the time to press forward with marketing plans that you may have put on hold while you weathered the turbulence of the ongoing downturn.  Certainly it’s early days and there may yet be more turbulence ahead, but by hesitating now and letting competitors steal a march on the marketplace, you may find it a much tougher journey back to prosperous times.

Here are our tops tips for managing the transition:

  • Make use of old school communication with new technology tools and leverage your contacts with social media updates, online newsletters and blogs
  • Manage aspirations and expectations – set achievable goals and use measurable tactics to assess your progress.  That could mean focusing on one customer group, one product/service or one marketing initiative
  • Spend your budget wisely – better to invest in a small, quality-driven marketing programme than to cut corners, cobble things together in house and waste valuable sales and management time on marketing activity that’s ineffective.

Source: Reuters

http://uk.reuters.com/article/2013/06/04/uk-construction-pmi-idUKBRE95308O20130604

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