Contractor Marketing During A Recession

The signs of a recession are all around us. The current economic crisis portrayed by the media is weakening both consumer confidence and the consumer spending—much of it on credit—that has been buoying the US economy.

DO NOT CUT YOUR MARKETING BUDGET. This is not the time to cut advertising. It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at lower cost than during good economic times. Contractors should keep their marketing plans where they are. It is not going to make any sense to cut back on this part of the budget because it will only result in a loss of sales. Meaning this is the time, when the good contractors thrive, while all the hacks will disappear.

ECHO THE CONCERNS OF YOUR CUSTOMERS. Then show them how your company can alleviate those fears. Your potential customers will want assurances that your services will provide strong benefits and good value before they buy. Which makes this a perfect time to use energy efficient marketing, do to the high costs in heating this winter.

CREATE TARGETED CAMPAIGNS. Really define your target neighborhood and work on campaigns to reach them directly and creatively so you are not spending willy nilly without a defined message. This includes, job signs, direct mail, newsletters, etc.

IF YOU ARE NOT DOING IT. THEN DO IT. If you are not sending out a monthly newsletter, then send one out. If you are not canvassing, then begin canvassing. If you are not doing pay-per-click, then get started. This is the time to increase marketing, not cut it.

Don’t succumb to the tough economic times. Remember, your image and company is important. Show the potential clients and customers that your company is resilient and that you’re still the best contractor in your area.