When Your Construction Marketing Budget is Limited – 6 Ways to Deal with It

When Your Construction Marketing Budget is Limited – 6 Ways to Deal with It

For sure, your construction business has been facing a tight budget at least a couple of times over the years. While this has indeed become a major problem for your construction company, there are several ways that could help you deal with it. When faced with the question, “What to do when your construction marketing budget is limited?” the very first thing you to do is highlight the most important things related to your budget before cutting out what needs to be cut.

So for this blog, we are sharing some tips and techniques that can help your business cope with your tight marketing budget.

When Your Budget is Limited, But You Don’t Want to Do the Following.

 

1. Cut out marketing budget entirely 

Perhaps one of the first-gut instincts and biggest mistakes when you’re facing a very tight budget is to stop all your marketing efforts. Again, that is a mistake and is a critical one. It often causes a significant drop in your leads, affecting your sales at the same time. 

2. Keep Operating Your Marketing Campaigns as it is 

As stated earlier, cutting your marketing budget is a big mistake. Allowing your marketing campaign to go unchanged even if it is not performing well is also considered a huge mistake. If you are in the state of deciding, now is the time to re-evaluate your construction company’s marketing ROI to determine where your funds would be best used.

Make sure also to ask yourself the following questions before making a final decision:

  • Where am I seeing the right engagement from my target market?
  • Are my marketing efforts producing qualified leads vs. non-qualified leads?
  • Have I allotted enough of the company’s marketing budget to achieve goals?
  • What social media platforms do my target audience seem to be the most active on?
  • Are my marketing performance goals and expectations realistic?
  • What areas of my current marketing could I table for some later time?

3. Too Personally Connected to My Marketing

 

One of the biggest mistakes you see as a business owner is taking your marketing efforts too personally. There is this old saying about being the Jack of All Trades, Master of None. Understandably, this endeavor is something you need to take seriously. You always have to set marketing goals, and that is one thing you want to accomplish. However, not asking for assistance sometimes can leave you drained of energy, money, and time. That is why it is best to allow a professional digital marketing agency to take the reins of your marketing campaigns. 

Not only do these digital marketing experts assure that your marketing strategies can help your reach your company’s top goals, but they also help you align your vision and budget at the same time. Having some experts to help you is the best decision you will ever make.

Tips and Tricks in Dealing a Tight Marketing Budget

 

1. Determine what is not working and fix it

Now is the time to examine and take a closer look both at your marketing strategy, customer service, and sales. Assuming you are with your in-house marketing team. Sit down with them and evaluate together why ROI is currently not determined accurately. Make some thorough discussions and figure out solutions to solve this issue.

Of course, there can be many solutions to this issue. So ask yourself and your team:

  • What needs to change in our company’s marketing strategy to achieve a better ROI?
  • What areas are we not meeting realistic expectations for marketing performances?
  • Are we looking for qualified leads, by any chance, on the wrong social media platforms?
  • Are these leads coming in but not directly followed thru correctly by the internal team?
  • Is our marketing campaigns include keyword research and have the best keywords and locations?
  • Is my construction website SEO optimized?
  • Is our target market correct?

2. Consider Factors that Play Into Your Budget

When you have a tight budget for your marketing campaigns, you want to find ways to boost them. Here are some factors that we can suggest for you to know more about since they can help your budget to increase a little higher. See below:

  • Profitability – It is something you should consider when you’re calculating your current marketing budget since it is based upon your company’s revenue. You can determine whether you can have a bigger budget or a small one.
  • Industry Presence – Your company’s marketing budget fluctuates up or down depending on your business presence in the market. Make sure to have a good reputation and strong digital presence so that you would not be looking for ways to be on top.
  • Target markets – Every construction market is different. However, the greater competition there is, the bigger your budget must be. 
  • Lifetime Customer Value – Your company’s marketing budget must account for the lifetime value of your customers. If your current customers are loyal and tend to call you back for future projects, you will generate more money. It only means you now have room to spend a little more on your construction marketing.

When you start dealing with a tight budget, you look for easy ways to boost it instead. But always be careful on your tactics, especially considering what this new construction market carries. 

3. Create a Client’s Profile

While this is a simple procedure like filling out a form you download from a website, it is considered critical for all businesses, including construction. To sell and offer your services/products, you should know who your customers are, the ones who will avail of what you offer. 

Simplify everything by creating a client/buyer’s profile. Having to do so helps you and your team precisely strategize the best way to communicate your intentions and messaging to your potential leads.

Hint: You can create multiple client profiles, but you do not want too many as it can spread your marketing campaign unevenly. Hence, concentrate on one to two on your first attempt. Then, make a plan to expand your reach thru your marketing strategy.

4. Construction Marketing Requires LinkedIn

It is already common knowledge – if your business belongs to the construction industry, your company should have a LINKEDIN account. Even if your customer base and target audience are not big users of LinkedIn, your business essential needs it. 

LinkedIn has become the screening platform for all types of businesses and executives from different industries. It is a platform where you can engage with your colleagues, construction professionals, business owners, and potential clients. 

Make sure to create a LinkedIn account for your business. Having a professionally designed LinkedIn Company Page classifies you as credible within the national, local, and even global business communities. It also opens avenues and opportunities for more qualified leads, increased prospects, and ROI. 

5. Give It Time

Your marketing plans do not work overnight. While there are many instances where you might see immediate positive results quickly after conducting SEO programs and focusing more on website development, it takes time to see consistently increasing results. And much like baking a cake, for instance, the perfect marketing strategy for you requires the ideal elements, the right ingredients, and measures. Usually, it takes anywhere from three to six months for your marketing campaign to start showing and delivering its best results fully.

6. Institute a Sales Funnel and Utilize It

No good digital marketing strategy could be without a sales funnel. This essential tool assures that your marketing campaigns produce qualified leads; therefore, helping your sales team to do its best, making your company more profitable.

Identify unqualified leads because they waste labor, effort, and time while immensely frustrating your sales force.

ConstructionMarketing.io can Help You!

 

Understandably, your marketing budget is limited. We get it and you are not alone. However, just because you are working with only a limited budget for your marketing campaigns does not mean your construction company should settle for less.

When setting a marketing budget, you often think it is not an economical business decision to hire a digital marketing agency. However, it is entirely untrue. Hiring a construction marketing team can ensure that your company’s current limited budget can be used to produce the best ROI.

Marketing must always, whenever possible, be performed by marketing experts. A reliable digital marketing agency like ConstructionMarketing.io is made up of trained professionals who know the ins and outs of digital marketing. We can help you create engaging blog content, manage your social media profiles, assess your target marketing, and develop the best marketing plans for your construction business.

You can fully trust our marketing team because:

At ConstructionMarketing.io, we can help you save time, money and labor. We are religiously working to deliver the best results for your company’s profitability and growth, even when your marketing budget is limited. Contact us now! We are ready to discuss all of your company’s marketing needs.