What is the most effective way to grow your contracting business and connect with new leads? Suppose you feel like your growth is slowing. In that case, it is a perfect opportunity to expand into new markets and expand your reach in the local communities.
Most contractors do not have the desire to add new services or lines of business. So, the best market expansion strategy is to expand your footprint into neighboring cities or counties. The wider your reach, the more potential homeowners you will meet.
Are you looking to scale your business and expand into new markets? Implement these strategies and watch the growth in the upcoming years:
Tip #1: Form Community Partnerships
If you want to know how to expand your business, be proactive about building solid relationships with other business owners in new service areas. Networking establishes connections that are mutually beneficial for both parties.
For example, if your presence is already strong in your local area, you have the opportunity to meet another business owner with an established reputation in a nearby city/service area, then share leads between the two markets. These two-way business referrals keep the leads flowing, giving you a semi-passive method to find homeowners seeking your services.
Tip #2: Invest in a Marketing Campaign
Set aside a bit of cash to invest in new marketing initiatives. The first step is to research the potential new markets you are considering thoroughly. When you establish the opportunity for expansion, then create a marketing campaign to strengthen your brand in that specific industry. Consider a variety of marketing campaigns, such as:
- Paid Ads
- Pay Per Click
- Press Releases
- SEO Landing Page
- Social Media
- Local Business Listings
Make sure your marketing spend is a worthwhile investment. Be strategic about how you are using your marketing budget. Track the results and see which sources are converting into paid customers more frequently than others. Then, use this information to reallocate your spending to increase your ROI on proven marketing campaigns.
Tip #3: Classic Referral Program
When someone is looking for a local contractor, they love getting referrals from friends and family. In fact, most people trust a personal referral over the approach of finding a contractor through an online search.
Make sure your business comes to mind when current and past customers offer referral information to their connections. Begin by asking your past and current clients for referrals. The more your clients spread the word about your business, the easier it is to know how to enter a new market.
Tip #4: Invest in Lead Generation
Perhaps the easiest method to expand into a new market is by investing in lead generation services. Let a professional team, such as Modernize, assist in connecting you with homeowners in the new area. We have proven systems and an established presence online, providing ongoing support for home improvement contractors looking for leads.
When you invest in lead generation, our team at Modernize consistently delivers new, quality leads in the specified areas. You choose preferred locations, and we will help you determine the optimal surrounding communities to increase your footprint. Our industry experience allows you to tap into proven lead sources, giving you vetted leads who are ready to talk about your services.
Multi-Faceted Approach for Long Term Success
All of these strategies are effective as standalone methods for expanding your contracting business. Combine multiple approaches, and you will generate momentum that builds over time.
Remember that bringing in new leads is just the tip of the iceberg. It has a ripple effect: these new customers are happy with your services, so they continue referring more people in the future. The more you reach out to potential customers and other business owners, the more your business will grow over time.
