Market uncertainty and competition in the electrical industry are at an all-time high. Making it harder than ever for you to grow your electrical contracting businesses. Financial spend isn’t the only way to overcome growth challenges and stand out from your competitors. Sometimes all it takes is a little resourcefulness to put your business on the right path to success.
Presently approximately 70 000 electrical contractors are operating in the US, employing around 625 000 electricians. Not even the top 50 electrical contractors have more than 0,5 % of the market share. This stands in stark contrast to an industry such as retail, dominated by a small number of large corporations.
So, what can you do to beat the competition at their own game? Read on as we give you 3 great tips to do just that.
3 Great tips to be better than other contractors
- Get online
Yes. We are talking about the worldwide web. But even more importantly, social media. Few online activities drive organic website traffic more than social media.
Consider the following
89% of consumers will buy from a brand they follow on social media.
61% of consumers will also judge you by how creative and engaging your content is, so make sure to keep your followers entertained.
This doesn't mean your Instagram account can't show you on the job-site, all prepped for a day's work Try to connect with your particular audience. You could do a series of posts about the pets you encounter at job sites. Now, who doesn't love a good pet story?
Keep it fun and exciting, and soon your mobile will be ringing much more than the competitions.
Market uncertainty and competition in the electrical industry are at an all-time high. Making it harder than ever for you to grow your electrical contracting businesses. Financial spend isn’t the only way to overcome growth challenges and stand out from your competitors. Sometimes all it takes is a little resourcefulness to put your business on the right path to success.
2 Keep your electrical business current
Stay ahead of the latest industry trends. Even if this means paying for training for you and your staff. Certifications look really good on the side of your van or the back of your business card.
Clients will notice a "Going-Green" or "Eco-Friendly" product endorsement. Research has shown that 54% of consumers consider certification labels the most reassuring proof that the company is serious about sustainability. Some 80% of consumers agree that certification labels should be displayed.
Improve client trust by showing that you are serious about business development and have a long-term growth strategy.
3 Customer-oriented approach
Communicate with clients as often and clearly as possible. No one wants to be left in the dark about what the plan is to fix a broken electrical system.
Secondly, explain to them what you did, what the benefits are, and that you are available to take their calls at any time as a problem crops up.
Call them a week later to follow up on the work you did. The important thing that you want to accomplish is a word of mouth referral. Once your client is a fan, they will recommend you to their friends.
Insurance does not have to be expensive
Trust and reliability go a long way in establishing what your electrical business stands for. So too does having the right insurance to back you up when needed most.
Without insurance, all it takes is one unforeseen incident to wipe out all you have built up and put you back to square one in establishing your business. Not a great thought, is it?
Electrical insurance doesn't have to be expensive. By providing your electrical business with an insurance buffer, you're not only protecting yourself but your client's interests too. So, get online and start comparing insurance quotes today.
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