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home news index contractors’ recession strategies (part 2 of 4): marketing and training

Contractors’ Recession Strategies (Part 2 of 4): Marketing and Training

April 06, 2009 - Nick Ganaway

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During a recession, it may be tempting to slash marketing expenses. A better approach is to be very selective in your marketing methods and to make the most of no- and low-cost opportunities to get the word out. Consider these ideas:

Reach out and make contacts with the people and businesses that provide work opportunities. Explore every means — from carefully targeted advertising and direct mail to personal phone calls, visits to banks and real estate offices, and even knocking on doors when appropriate. Maintain all relationships that are critical to your business success, both inside your company and out. Show your optimism.

Become better known in your community. Donating expertise and labor to high-profile public projects such as Habitat for Humanity is a good way to gain valuable new contacts while benefiting a worthy cause. (Connect with your local Habitat affiliate.) Local newspapers may accept articles of timely interest, with your name and business noted. Informal emails or newsletters with helpful tips for customers and other associates are another way to generate business, reminding people of your expertise and availability.

Provide training for employees when work is slow — whether it is conducted by other staff members or courses offered at low or no cost by trade associations or schools. Training makes employees and the company as a whole more valuable, and projects more cost-effective — both now and as the economy revives.

Nick Ganaway is the author of Construction Business Management: What Every Construction Contractor, Builder & Subcontractor Needs to Know.

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