Marketing in Today's Economy

One of the best times to spend money on marketing is when the economy is down.  Some of the deals to be had are during this time, so your dollar goes farther.  Not to mention your competition is spending less or not marketing at all.  Letting your future clients know whom you are and where to find you is key.

One of the best examples is that of one 5 Star Chef.

A new 5 Star Chef is in town.  He opens a great restaurant that is just a little off the beaten path.  The new establishment is beautiful, filled with the perfect ambiance, plenty of parking, and exquisite menu.  The Chef is asked if he is going to market his business.  His reply is, "I am a 5 star chef!  I don't need to any marketing or advertising, people will come just try my creations and to see this wonderful restaurant".  The restaurant goes out of business within 3 months. 

It is extremely important to let people know who, where, what you are.  If you don't, how will they find you or why would they call? 

As this article is title, "Marketing in Today's Economy", we'll want to explore different ways to market your business.  In the roofing industry, you will find common practices of marketing.  Maybe you have or are currently trying one or more of the following:  canvassing with high school or college students, advertising (yellow pages, internet, mailing campaigns, etc.), yard signs, and networking to name a few.  Each and every one of these methods has some level of success.

Each of the methods typically requires money up front.  There is nothing wrong with that, that's they way that most marketing works.  Yet your decision to use any one of those methods again is based on how much return you receive on your investment (ROI).  It would be a luxury if you knew before hand how much business or even leads you would receive before spending money.  The information you receive before making your investment is usually how many people will either see or receive your marketing message.

The roofing industry is competitive, as many would agree.  There are two keys to having a successful marketing campaign.  The first is to be the first company to market.  The second is to be the only company.  Being the first and only sometimes is more expensive upfront.  Yet your focus should be on ROI and not the actual dollar amount.  It should go without saying, but many companies worry more about what comes out of their pocket verses what comes back into their pocket.  Initially they feel pleased that they only spent $1, but disappointed later because it yielded no results.  Spend the extra dollar if you KNOW the better campaign will yield results.

First things first, have a marketing budget.  Knowing exactly what you have in your budget and you will make wiser decisions.  And more importantly, it will keep you from having any emotional ties to the money being spent.  A marketing budget is built off of your marketing plan.  Marketing must be important if it is required in your business plan, right?  If you don't have a marketing plan then get one or make one.  There are plenty of resources on the Internet where you can find a template and fill in the blankets to get you started.

Next, is to be open-minded.  Too many people are scared to be "sold".  What's wrong with being sold?  Someone "sold' you on the idea of being in the roofing industry.  That someone could have been you.  There are many great ideas out there.  Truly entertain all ideas that come from marketing companies, employees, family and friends.  From here you are the one that is in control of the decision.  Not some slick sales person that got past your gatekeeper or had a flashy hand out.

Lastly, implement the program(s) you chose with your plan.  Your plan is your strategy.  Be sure you know how long you will be running each program.  And for heaven's sakes track!  You won't know how well any program does unless you track.  If it is an advertising campaign, be sure that anyone that answers the phone ask, "How did you hear about us".  Other programs such as telemarketing and Internet can be much easier to track with the right systems in place.  Be sure they are.

We have found that telemarketing for leads can be one of the most effective ways to spend your marketing dollars if you do your research.  The best programs are those are reverse engineered from advertising.  Instead of paying by the hour, pay by the lead.  Now instead of hoping to get leads, you know exactly how many leads.  Ideally you will only work with a company that will exclusively works for you.  You are paying for the lead, why should have to fight other companies for it after you have paid for it?

Formulate the other marketing ideas around your telemarketing leads.  Don't spend time to randomly canvas.  Only canvas and flyer after you have visited a house that has damage.  Then after you have replaced or repaired their roof ask to put a yard sign in. 

Marketing is a necessity, so take the time to smartly plan.  Utilize methods that work best for your business.  Remember the best for your business isn't how little you can spend, but how much business can you generate.