Want to Know Where Your New Business is Coming From?Category: Business
Article added by: Leslie McKerns
by Leslie McKerns—McKerns Development
Jay Conrad Levinson, author of the popular Guerrilla Marketing series, says that once a firm stops marketing it costs those firms three dollars for every dollar formerly spent to reach the same level of consumer recognition and share of mind they previously enjoyed. Yet, many companies have scrubbed or reduced their marketing budgets to combat tough times.
But if you were a firm that stopped marketing, you can still be lucky. You can start up again and grow your revenues in a big way during recovery. It is startlingly simple. Here’s how.
For example, say you are an architectural services firm (although a similar technique of identifying client need will work for any services firm.) Your target client is a land developer in Florida. Let’s feel their pain, because we all know that moving away from pain can be a quick way to a sale. If you think like the developer, you will uncover the services they want.
A traditional developer is involved in handling large tracts of never before developed land. That land no longer exists. With the recent building boom, there is a scarcity of undeveloped parcel, raw tract land that has all but eliminated the traditional developer.
Developers who are still active in Florida are a different breed than those who previously simply bought and built on raw undeveloped land. Developers in the current market cobble together parcels, utilize infill, or adaptive reuse, and capture problem properties, that formerly would have caused them to walk away. Brownfields, industrial/urban or irregularly shaped parcels with narrow access and rigid setback requirements are the norm.
The Developers that are still active have new problems.
1. Problems in obtaining any suitable land for building projects.
2. Problems in making the purchase numbers work on land that has to be scraped (buildings razed or adapted).
3. Problems in delivering Return on Investment. They must factor in the cost of purchasing land with buildings on it. Then pay for demolishing or modernizing. They must make the new buildings/units affordable to the potential end market and still calculate a profit margin.
4. Problems obtaining zoning changes for density increases or usage changes.
5. Problems navigating through the approvals processes that are lengthy and now involve extensive community demands.
6. Problems getting through the process of approvals, the design and building process and getting product to market within highly un-flexible timetables. Banks want their money. Stockholders want results.
What this means to you is that you are sitting on a gold mine of specialized service contracts.
1. Think of additional products and services that can establish new sources of profits. Base these services upon these needs of the new breed of developer
2. Become the expert in these services. Publish and promote your expertise.
3. Break down larger services into smaller services that can be contracted for more often.
4. Back the entire process up two or three steps. Instead of only offering the phases of actual design services such as schematics, design development, construction drawings, and construction administration, heavily market “pre design” and construction services, such as budgeting, feasibility and master planning.
5. Demonstrate to your clients that you have the ability to get them through the approvals process. This means both sophisticated and grass roots presentations to community officials, governing bodies, the press and the citizens in the communities.
6. Be willing to be the Community Liaison. Help the client identify with whom he needs to meet before the project goes for approvals. Get those approvals parties strongly on board through focus groups and other interactive and cooperative techniques. Show your expertise in this arena of cooperative need. Market these services with hourly contracts or defined number of meetings/presentations, deliverables.
7. Form strategic alliances with other firms that add strength to your services and credentials. Make referrals constant and a two-way street.
8. Strive to define and refine the process until it is predictable, repeatable and profitable.
Define, refine, repeat. Make these services profitable and continuous.
Key words: marketing for an architectural service firm, business development for architects, getting new business as an architect, land development, the needs of the developer, the approvals process in new building, design and construction services, McKerns Development, development in Florida
Posted By: Leslie McKerns
Web: http://www.freewebs.com/mckernsdevelopment
Contact: e-mail
| About the Author: |
| McKerns Development is a West Palm Beach, FL based PR, marketing and strategic business development firm. For 5 unique service packages, tips, newsletter and free samples, go to http://www.freewebs.com/mckernsdevelopment |
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