Who’s Getting Engaged?
Are You Ready to Change? It’s human nature to compare. And, on some level, we’re all competitive, so when league tables are published, whether we expect to be in them or not, they make compulsive reading.
That was certainly the case for the Construction News Top 100 supplement published last week, which provides league tables of companies by sector and construction discipline. While the usual suspects continue to battle it out for their place at the top of the table it was the new entries, re-entries, risers and fallers that really captured my interest.
While the new entries and re-entries are exclusively in the lower 20% of the table, these companies have improved on where they were just 12 months ago. And the secret to their success? Adapting to a changing and challenging marketplace by diversifying their proposition, their client base or both.
The CN100 is a classic indicator that, no matter how large or small your business, it needs to adapt to changes in market conditions if it is to continue to grow. Much of that process is strategic and based on good leadership and a company culture that is willing to embrace change. Effective marketing also has an important role to play, however, both in terms of defining the opportunities and communicating new products or services to a new customer base.
If you’re thinking of diversifying to help your business grow, here’s just a few ways in which tailored marketing support can help:
- Market research will help you identify gaps in the market and potential customers
- A well-defined marketing strategy can help you develop an effective approach to sales as well as a focused marketing plan
- Your website is your shop window – make sure it represents what your company is now, don’t leave it stuck in the past
- Ensure your tactical approach is integrated – media relations, social media, blogs, content marketing, direct (e)mail, sales collateral……..it should all be joined up so that your audiences access the same messages whatever channel they choose
- Leverage your existing experience to leapfrog to your next market segment because no-one else will champion your success if you don’t!