What should Contractors do in a slow moving economy?

As the demand for our services reduces due to the downturn in spending, we all need to work harder in promoting ourselves in getting all those extra jobs, especially if we are to survive.

One way we can do that is to look at what our competition might be doing.

I realized years ago that most of my own competitors reduced spending on promoting their businesses when times became hard, one would assume to save a little money in the short term, when in fact they should do the exact opposite. I have always advocated a greater spend on advertising when the market shrinks.

This has a dramatic effect especially when considering essential services which plumbers are involved in. The effect is twofold; the first is that it impacts on competitors own advertising, inasmuch that a positive image is presented to our public and inspiring confidence in the company concerned, and secondly, the reality of getting those extra jobs are real as our competitors presence is dwarfed by our own promotions, whether that be directory, internet or any other form of advertising.

Nobody should underestimate the positive effect of advertising, especially when everybody else seems to be reducing. It just might be possible to turn our whole situations around when we look and act positively.

It is also important to look clearly at what our own messages are when promoting our business. What are we looking to achieve, and what are we expecting when we actually spend more money on promotions. We all need to think how we are going to grab the business that is still around, and why would anybody use our services in the first place, especially over and above our competitors.

In conclusion, we need to be very careful about making quick decisions and sometimes it is wise to be radical in our thinking because the obvious answer is not always the best.

Regards
Mike
Plumber



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