York, PA, January 15, 2009 --(PR.com
)-- How should companies in the building industry, facing a battered marketplace and intense competition, approach marketing in 2009? The instinct for many: cut their marketing budget to the bone and “ride out” the rough patch. Unfortunately, that instinct can lead to significant long-term damage to a company’s bottom line.
In response to client requests and industry-wide frustration, Baublitz Advertising has developed five practical, proven marketing practices every company in the building industry should consider for 2009:
1. Clarify your value - In times of turmoil, customers spend time analyzing their buying decisions, and they’re not just searching for the lowest price. In fact, an NAHB survey found that more than 70% of builders said they would opt for suppliers offering the “best value.” In this marketplace, companies must hone their messages to define their value and competitive advantages – and they must develop a marketing plan that clearly delivers those messages to the right audience.
2. Protect your turf - Current customer relationships are Not money in the bank. They need to be tended, especially in tougher times. They need to know how valuable they are to you. Stretch your marketing dollars by staying up close and personal with key accounts, rewarding their loyalty with fair pricing and consistently high levels of service.
3. Focus on capturing market share - Multiple studies show that maintaining or increasing marketing activity during a recession can enable a company to capture greater market share. This enables them to maintain revenue levels during a downturn and generate significantly faster growth during a recovery. (One McGraw-Hill study found that companies that marketed aggressively enjoyed a 256% increase in sales in the years following recession versus companies that scaled back.)
4. Get serious about the Web - Internet marketing can be far less expensive, far more measureable, and generate a greater Return on Marketing Investment (ROMI) than many traditional marketing approaches. In 2009, refocus efforts on Web content, search-engine optimization, email marketing and other Internet-based approaches.
5. Think green - Sustainable products and services will constitute one of the few bright spots in construction and remodeling. SBI, a research firm, predicts an annual growth rate of 17% for environmentally friendly building materials. Find ways to tell your green story – and share in that growth.
As the building slump continues and credit remains tight, it becomes more critical than ever for companies to generate top line revenue. For more specifics and complimentary resources on the approaches listed above, including white papers on ROMI and green marketing, visit Baublitz Advertising online at www.baublitz.com
About Baublitz Advertising
Baublitz Advertising is a full-service marketing firm that has served the building materials and construction industry since 1976. The company focuses on developing and executing measurable, results-based marketing strategies. For more information, visit www.baublitz.com.