Despite an initial slowdown last spring when COVID pandemic hit the United States, 2020 ended up being a good year for the remodeling industry. According to NAHB estimates, remodeling activity was up about 6 percent last year. The association is projecting 4 percent growth this year, while the new U.S. Remodeling Index from Qualified Remodeler magazine and John Burns Real Estate Consulting shows 10 percent growth expected for 2021.
As business booms, it can be tempting to cut your marketing budget. The idea is easy to understand: “Hey, we’ve got so many projects now, why should we be chasing more?” It’s an easy mistake to make, but one that can seriously hamper a remodeler’s business.
Marketing is about the future
The most important reason to continue marketing is that most marketing isn’t about immediate results. A good marketing program is about creating long-term growth. Sure, you can offer a price promotion or giveaway in an effort to inject some instant cash into the business, but that isn’t sustainable in the long run.
The generally accepted rule of thumb is that a well-rounded marketing strategy will take six months to a year to really pay off. It’s all about repeated exposure to your brand and message.
The truth is that for too many companies, by the time they decide they need marketing, it’s too late. That’s why it’s important to have a marketing strategy that considers all aspects of your business.
Marketing is about branding
A service-based business like a remodeler or builder needs a positive reputation to grow and maintain business. When someone needs a remodeler a year, two years, five years down the road, will they think of your company? By being a resource, by being seen as an expert in the home construction field, you can make sure you are front of mind when the time comes that they’re ready to remodel that kitchen.
It’s why we’re such big believers in the importance of content marketing.
Marketing is about repeat and referrals
Nothing is worse than hearing that a past customer hired another remodeler for their project. (Well, unless they are the “customer from hell” that we’ve all dealt with over the years.)
Over the years, we’ve heard so many remodelers share that lament with us. All too often, it is because the client didn’t think of the remodeler because they didn’t know they offered that service. Staying in front of past customers is crucial to repeat and referral business. Keep them informed about staff changes, new services and market trends. Make sure that the homeowner who hired you six years ago to finish their basement knows you work on kitchens, too.
Ready to invest in your company’s future? Contact RT Marketing today to discuss all your marketing options!