Building a Deluxe Building Business
Small to medium businesses are on the increase here in the UK, with a record 5.5 million private sector businesses at the beginning of 2016, an increase of 2 million since the year 2000. A massive 4.2 million of these businesses (76% of the total) have no employees and are owner operated. Just under 20% of these SMEs operate in the construction industry so there really is a lot of competition out there within our sector. While most business owners who want to attract new customers tend to think that the best way to do so is by lowering prices in order to deliver a cheaper service, this is not always the case. Attracting high-end customers is a great way of growing your business and offering a more exclusive, upmarket service than competitors.
High end clients are those with luxury tastes and budgets to match so offering home improvements, refurbishments and new builds to this type of client can be challenging but very rewarding. As a construction contractor, manoeuvring your business towards high end customers will probably mean letting go of certain cost brackets but the clients you do attract will have the necessary means to purchase more at a higher price point. Many business owners find that establishing a reputation for low costs can be a failing strategy as it means constantly outselling their competitors while offering luxury services and products can provide the opportunity for long term growth and repeat business. Here are some tips you can use to attract high end clients:
·Bear in mind that high end clients are not usually looking for a bargain or the best value. These consumers will often view a lower price as translating to a lack of quality so price your work accordingly.
·These customers will expect a polished customer experience and that includes you! Instead of wearing the usual work clothes, you’ll need to look smart when first greeting your client and change into work clothes or coveralls when actually working on the job.
·Brand your business properly - make sure you have a well-designed logo and professional quality photos of your previous work. Make sure your website is well designed and performs well on all types of device – smartphones and tablets as well as PCs.
·Get the touchy-feely thing going on. Sensory touch is a powerful persuader so make sure you have samples (of different woods, stone, etc.) available to show prospective clients. Make sure your business cards are printed on textured cardstock which will evoke a sensation of luxury.
·Customer service matters to high end clients. High end clients are accustomed to knowledgeable and fast customer service exchanges. This means you may need to hire and train somebody to answer calls when you’re busy on a job or you may need to spend time responding directly to any social media queries.
Wealthy clients usually consider reputation above price, so they’ll be looking for a contractor who stands out from the crowd. Join local business groups and start networking, ask satisfied clients for reviews that can be posted on your website, sponsor local charity events. High end clients are likely to ask their acquaintances for recommendations when they plan to have work done in their homes so make sure you network effectively and reach the right people.