Review of "The Modern Marketing Mix" by Neil M. Brown
Page 11 in Tools of the Trade: Modern Marketing for Construction Brands, author Neil Brown describes "The Modern Marketing Mix" for construction companies. Neil and his team make an important find:
... traditional marketing tactics like advertising and trade shows are expensive, and are being cut back and often replaced with less expensive tactics such as Internet and social media. This trend is reinforced by annual outlook surveys from the American Marketing Association, BtoB magazine and the Construction Marketing Association 2011 Outlook survey identifies budgets increasing for Internet, social media and publicity, and declining for advertising, printing and tradeshows. (Underline added for emphasis)
Here are their findings from the 2011 Outlook marketing survey which polled construction brands marketing strategies:
97.4% are increasing spend
Social Media category
95.8% are increasing spend
Print Advertising category
49.3% are decreasing spend
Trade Shows category
59% are decreasing spend
That is a very important finding. Construction brands are moving away from the costly moving of physical machines and people to tradeshow booths and "spray and pray" approach of print advertising, towards a targeted online approach of virtual connection with their customers through Facebook/Twitter/Linkedin and Google Adwords SEO to target the right kind of buyer.
Clearly, construction companies want to capture the energy, research, and decision-making that happens online. Contractors are inundated with HR issues, job bidding, job execution, product knowledge, budget restraints, overhead, and managing their businesses day to day. They want to be able to easily purchase the products they need online and research new products that could help them run a safer, more productive job site.
In addition to companies growing their SEO and social media approach, an excellent way for equipment and parts suppliers to improve their online presence and drive purchases is to list with Equiprent.com. A good online marketing strategy should be built around how we (as consumers) make buying decisions today - not how we made them in the past.
Here is our suggestion for how construction equipment and parts suppliers should market online:
Robust Facebook, Linkedin, and Twitter company pages with at least bi-weekly updates (free)
Blogging about your product and how it exceeds expectations and alternatives on the market (free)
Targeted Google Adwords for your specific geographic market, keywords, and potential buyers (much more effective than blind print advertising given the rich reporting tools and tracking how leads are converted to sales)
Robust Equiprent.com supplier page with all the products you want to sell online listed in your unique storefront. You have complete order management tools and reporting on sales trends and conversion rates on your dashboard. Only pay a commission when a product sells - otherwise, the site is 100% free.
Tools of the Trade: Modern Marketing for Construction Brands
Neil M. Brown
Published by RB Communications Inc., in Aurora, IL
Buy it here!