Commercial Construction & Renovation

JAN-FEB 2013

Commercial Construction & Renovation helps our subscribers design, build and maintain better commercial facilities by delivering content to meet the information needs of today's high-level executives.

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OFFICERS President Art Rectenwald Rectenwald Brothers Construction, Inc. Vice President Mike Wolff Timberwolff Construction, Inc. Secretary/Treasurer Robert Moore Gray-I.C.E. Builders, Inc. Immediate Past President Matthew Schimenti Schimenti Construction Company BOARD OF DIRECTORS Brad Bogart Bogart Construction, Inc. 2014 Dan DeJager DeJager Construction, Inc. 2013 Michael Kolakowski KBE Building Corporation 2013 Mike McBride Westwood Contractors 2013 Kent Moon 2015 Lakeview Construction, Inc. Robert Moore Gray-I.C.E. Builders, Inc. 2015 Matt Pichette Russco, Inc. 2014 Art Rectenwald 2016 Rectenwald Brothers Construction, Inc. Chandler Weekes Weekes Construction, Inc. 2013 Rick Winkel Winkel Construction, Inc. 2016 Mike Wolff 2015 Timberwolff Construction, Inc. PAST PRESIDENTS David Weekes W. L. Winkel Robert D. Benda John S. Elder Ronald M. Martinez Jack E. Sims Michael H. Ratner Barry Shames Win Johnson Dean Olivieri Thomas Eckinger James Healy 1990-1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 Robert D. Benda K. Eugene Colley Matthew Schimenti 2004-2006 2006-2008 2008-2012 2 more successful at targeting and winning work when marketing leads the way by positioning the value the company delivers (see Exhibit 1). Targeting Customers And Markets Deciding between a rifle and a shotgun is a decision that affects more than the outcome of a hunting trip. Shotguns are for use at close range and spread the impact over a broad area. Rifles are used when the target is specific and visible. Do you want to reach wide, blanketing a whole market? Or do you want to pinpoint where you are most likely to be successful and concentrate efforts there? Targeting customer characteristics is much more effective than trying to target a whole market. Instead of aiming for the general market segment of retailers, you might consider targeting big-box retailers with expansion plans. Or you may decide to target a boutique shopping district to become the contractor of choice for new retailers. Whichever the target, the key is going back and digging through your completed projects to see what customers and projects have been the most successful. Then, use it to target new customers. If you determine the characteristics of the best customers and projects, you will find a rifle that a will best leverage your ability to touch the right customers with the right message and win more work. If you lack this knowledge, plan to spend more money and time employing a shotgun approach to find and win new projects. Marketing Strategies and Business Development Activities Using feet-on–the-street sales resources is effective for getting out and meeting people. However, it is slow to generate results as a primary tool for warming up a new market or customer segment. This is more effective at converting potential, qualified customers to real work opportunities. To quickly warm up "cold" contacts, a blend of marketing and sales can create the one-two punch that lands new business. Not only is marketing more cost-effective per customer "touch," but it can reach more potential customers, than sales alone. Marketing is more than mass mailing; it is about creating conversations with existing and potential customers. It sells the big picture, drives name recognition, and establishes the added value your company brings BEFORE you start a conversation about a specific project. Without marketing, there is significant chance of ending up competing on price alone. Ready, Aim, Shoot Every market cycle presents both challenges and opportunities. It is sometimes difficult to see the positive aspect in the dark economic cloud that has been hovering over us, but opportunities do exist. First, gather the facts you need about your customers, market, competitors, and company to get real about what is working and where opportunities exist. When companies have facts in hand, they are more likely to create the courageous strategies needed to break out of the pack and get ahead of competitors. Second, be willing to invest the time and effort, to replace cases of shotgun shells with a few targeted rifle rounds of both the marketing and business development varieties. Third, give customers a solid business reason to pick you. Identify where you can leverage your company's capability and core competencies that will give customers an excuse to pay just a bit more for you than for the next competitor. There are already a few markets warming up. Use the coming market changes to position your firm for success. Get the facts and get your brightest minds together six to 12 months in advance of a market change to help envision the future. Get your strategy marketing and business development aligned and prepare for rays of sunshine to start cutting through those dark clouds overhead. Cynthia Paul is a managing director at FMI Corporation and the practice leader for business development. With a strong conviction that marketing and business development starts at the top of an organization, she works with company presidents, sales, marketing and business development executives to help create a strategic vision. She may be reached at 303-398-7206 or cpaul@fminet.com.

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