As a building products manufacturer or marketer, it is crucial to have a sound marketing plan for your products lest your competitors beat you at the game. In most cases, when it’s time to create a new sales and marketing plan, most companies use their previous year’s template and just improve on a few things. This isn’t always the best route to take because there are many changes and new trends in the market that need to be taken into account when creating a strategic marketing plan.
Plus, each year such a plan becomes less and less effective. To avoid this, try and develop a brand new plan that builds on your past experiences and incorporates any new changes in the market. Here are some crucial elements that will help you in making a successful construction products marketing and sales plan.
What is your building product? What are you trying to sell? You may be surprised to know that most manufacturers and marketers ignore this element because they assume it to be obvious. But is it really obvious to potential customers out there?
2. Why Your Product?
This is a crucial element in a marketing plan that can be extremely powerful in beating your competitors. List down what features and benefits make your building product a better option compared to what your competitors are offering. That will help you in advertising your product and giving potential customers a reason why they ought to try it.
3. Target Customer
In most cases, your building product will be targeted towards a specific market. When drawing up a marketing plan, you need to determine this market through thorough research so that you can know where to focus your advertising efforts. Is your target customer residential or commercial? Are they a distributor, homeowner, contractor, DIY enthusiast or so? Are they into new construction or remodeling and repair projects?
Such questions will help you profile your target audience in detail.
What problems can you identify in the market that your product seeks to solve? What building products are your target customers currently using? What are their main challenges with the product? What do they love about it? What would they like to be different with the product?
When you identify the customers’ common pain points with their current choice of product, you need to establish whether your product can help solve their problems or increase their application success rate.
You can’t afford to ignore your building product competitor at all. First, determine who they are and what product they are offering. Are they direct competitors or companies offering alternative products? What are your main competitors’ strengths? What are they doing differently from you? Why do their customers prefer their products? What type of marketing efforts are they running?
You need to understand your competitor fully to know how to beat them. But remember, your product has to be excellent in the first place!
The resources at your disposal will determine your marketing strategy. If you have limited resources, you can’t afford to be extravagant like most huge companies. Instead, think of where to focus your efforts for maximum gains.
8. Opportunities and Threats
Based on your experience and surveys, what opportunities are there for you to gain a foothold and grow in your target market? What areas are your competitors or industry leaders ignoring? Also, what threats do you face? Can you handle these threats if they emerge? Don’t ignore possible risks because they have the potential of taking you from 100 to 0 real quick. Always have a contingency plan.
All the above elements are vital when brainstorming to create a successful building products marketing plan. Don’t assume any of them!