Marketing in a Down Economy: Lessons from the Design and Construction Industry

Marketing in a Down Economy: Lessons from the Design and Construction Industry:

Design and construction has been hit heavy with the changes in the economy over the past few years. As a marketer who started out working for design and construction firms, I’ve seen the market’s ups and downs and how firms adapt and change tactics with the economic climate.

Lessons learned from firms in the design and construction industry can be applied to any B2B firm:

• Focus on reciprocal relationships. Gone are the days where you’ve worked well with another firm and they simply use you as their go-to firm to partner with, especially for subcontractors. Nowadays, you need to bring added value (i.e. a lead) to secure your spot. Lesson Learned: For firms in any industry, keep up with industry happenings and be the person who knows the latest information and most importantly, be a connector of people. Keep in mind who you know and how those people could benefit from knowing each other.
• Integrate “the greater good” into your business model. The building and construction industry was one of the first to focus on integrating green principles into everyday business. Since the U.S. Green Building Council’s (USGBC) inception in the late 90’s many building and design firms have embraced LEED professional credentials and principles, essentially working toward a transformation in the industry, and ultimately affecting the greater good of the earth. Many firms (especially those who bought in early) have used these skills and experience to successfully differentiate themselves to the point where green design experience has essentially become the price to play in many cases. Lesson learned: Integrate a cause into your business plan, whether it becomes a part of your services, or a side project such as a branded charity event. This can serve to differentiate your company, earn community respect, can be great fodder for public relations pieces, and importantly, creates a boost for staff morale.
• Get on the cutting edge. Staying on the forefront of technology is one way to stand out from the competition. Though being in the forefront is key, don’t wait until the technology is too mainstream or you could miss the opportunity to differentiate. One example is Building Information Modeling. Firms who picked this up early were able to create impressive presentation pieces early on to help them stand out from competing firms. Also, this type of technology offers ways to streamline the process and ultimately save time and ensure coordination on the project – all great value propositions. Lesson learned: Always be learning and changing, and improving technology to streamline processes both internally and externally to offer your clients more value.
• Be nimble and diversify. Gone are the times when a particular firm was content in a particular niche without dipping a toe elsewhere, just in case. The last few years have shown us that certain industries can suddenly take a steep drop and firms entrenched in residential and corporate office markets suffered. Lesson learned: Firms who have made it through the recession have learned to diversify and make quick changes, redirect their experience where needed, if it means partnering with other firms or just getting creative in their marketing.
• Hit the pavement and get involved. In less competitive times, architects and engineers (in this example) were content to do their jobs well and focus their energies on existing projects. Gone are the days when networking and involvement in professional associations was mostly up to the business development guy or gal. Everyone is expected to do their part to get involved in associations, make connections and find new business. Lesson learned: Now more than ever, it’s important to not only find valuable events to attend, but also to find ways to get involved in committees and really get engaged beyond the office.
• Leverage social media. One way design and construction industry firms have been effectively stretching their marketing budges is by using social media to expand their reach in communicating professional experience and expertise. Lesson learned: Take advantage of a large online audience (that you can tailor and refine by industry, location, interests, and other criteria) and share your expertise.
• Enhance public relations efforts. Using a public relations program effectively can enhance your visibility and credibility, especially in a tight-knit community like the design and construction industry. This includes activities such as developing press releases, pitching articles to the media, offering expertise for speaking engagements. Lesson learned: Share firm news and expertise with you local or industry community to increase visibility and credibility.

In addition to being a bit more strategic than print and advertising focused campaigns, many of these tactics are low cost or simply require an investment of time or a one-time cost. I hope design/construction firms and other B2B service firms find this post helpful. Please share other lessons you’ve learned from any industry for adapting to the changing economic (and technological) environment.