Business Strategy
5
Answers
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I’ll take it as a given you are operating a “brick & mortar” construction (equipment rental) business and with this, allow me to propose a few “flexible” marketing moves, you may consider (online or offline):
1. PUBLICITY/PUBLIC RELATIONS - Online or social media write-ups; Offline publication write-ups
2. ADVERTISING - Online: paid search/display narrow-focused to your locality/chosen demographic; Offline: local media (e.g. cable)
3. TRADE SHOWS/EXHIBITS - Benefits of taking part in these industry events (other than generating brand presence) include expanding your targeted leads “networking”/partnership opportunities, competitor check, business feedback, etc.
BONUS: Business Listing (e.g. Google) is an often overlooked marketing tool (by many businesses with physical addresses) that you should maximize to increase your (foot/web) traffic and boost “conversion”. (If you want “SERIOUS” customers to at least visit or call your store, help them find you.)
In a nutshell, you can always do marketing your way, the “ad hoc” way and right away (I.e. soon after reading this); but it’s ideal to have a basic business strategy in place. That’s why I review the backgrounds of businesses before providing recommendations. In the absence of such though, you may give a briefing (or fill a quick questionnaire), so we could come up with a marketing strategy, most relevant to your customers.
This “strategic” approach to marketing (no matter how small your business) not only keeps your marketing efforts on track, enables you as the business owner or manager to make more “informed” decisions (e.g. from deciding on the font style of your business name to the copy of your directional store signs to the keywords you choose for your SEO, etc.) but it also optimizes your resources, translating your marketing spend into investments rather than costs to grow your business.
I hope you have gained useful inputs and let me know if you wish to explore this discussion further.
Success!
Answered over 4 years ago
Entrepreneur and Strategist, COO, CFO
Who are you selling your rental services to?
If you’re aiming to sell to small independent contractor or are you selling to big industrial construction companies?
Let’s say you’re selling to independent contractors, couple Idea would be: cold calls/emails, ads on market place sites for independent contractors, ads targeting ones go to Home Depot, etc. You can expand your strategy from where your customers would be.
Let me know if this helps.
Answered over 4 years ago
Brand Transformation Coach. Brand Strategist.
Start with a brand and positioning strategy - this is fundamental to position you and differentiate. No amount of strategies would be useful unless you clearly understand your target audience and then align your brand strategy to that segment.
Construction, building, development and property building is a competitive business, but there are ways you can stay ahead of the competition. One method that will set you apart is branding.
Simply put, this means putting a face on your business to make it more appealing to your potential clients. This will make them feel like they know your company and thus be more likely to choose it. The key to creating a brand is to have an attractive, professional construction company logo created for your business.
Construction companies with a brand and a recognizable construction business branding are more successful. Don’t hide your light under a bushel; let your community and your customers see what your company stands for.
Answered over 4 years ago
Business / Lean Transformation
- Produce content of value to potential renters about their area/s of interest, and distribute using the free platforms available. This will help build brand.
- Produce content to educate renters about the equipment, how to use, how to repair, how to service, so they can see how easy it is. (Distribute using the free platforms)
- Produce content to educate renters on better construction practices, so they can improve their business. Creating value this way both builds brand and grows your customers business
Answered over 4 years ago
Experienced Associate
Marketing these days plays an important role in business survival and growth. For a booming business like construction rental equipment, brand awareness and perks of choosing such a rental company are where you need to start. This is because the majority of the target audience is not aware of the rental perks which are why it becomes more important to incorporate the right marketing strategy to promote your rental company.
The marketing ideas/strategies that a construction rental company must focus on are:
1) Create a responsive website for your business
The online existence of your rental business is important as most potential customers investigate and rent heavy equipment on online platforms. Your website must be user-friendly and well optimized for search engines to get desirable results.
Website development factors to consider are clear navigation, comprehensive product listings, photos, equipment details, price, etc.
You can refer to the guide shared below to get detailed information on the online construction equipment rental industry: https://www.fatbit.com/fab/online-heavy-equipment-rental-marketplace-innovation/?=pc
2) Website optimization for SEO (search engine optimization)
If your company is not visible in top searches on Google or other search engines then the conversion rate and the traffic to your website will be affected. This is why rental companies with an online existence spend a lot of time and money on website optimization to improve their search results.
There are a number of SEO experts or companies offering such services that can help you improve your website ranking on Google and other search engines: https://www.fatbit.com/best-reputation-management-services.html?=pc
3) Invest in PPC campaigns
The next strategy is that you must invest in the PPC campaigns that you can run on different platforms like Google, Facebook, LinkedIn, Instagram, etc. You can also opt for banner ads on different websites or channels flashing information about your business and directing them to your website. This is the best type of paid marketing and you can take assistance for PPC experts by hiring them or connecting with a marketing company that offers such services.
4) Consider content marketing and link acquisition strategy
Publishing regular content, losing your business, or acquiring links on a third-party website are some referral traffic generating strategies that work well for a niche-specific business like yours.
You can create blogs, articles, videos, photos, graphics, downloadable content and other informative assets for your business that are relatable and easy to access. This will increase both organic as well as referral traffic to your business.
5) Create an attractive social media presence
These days every company has their own profiles or company pages on different social profiles that should be updated regularly. Important details like links to the website, contact details and email should be shared so that it is easy for the visitors to connect with your directly.
6) Other ideas/marketing strategies
a) Email marketing: if you have a reliable database of your target audience you can definitely try mail marketing. One such way to collect reliable data is by keep asking for emails either on newsletter subscription or consultation/contact us forms
b) Press Release: officially announcing the launch or update related to your rental business on PR websites and channels for brand awareness.
Answered about 2 years ago