Referrals, repeat business, speeches and presentations, then advertising: Your construction marketing priorities

In this weekly Google Plus Hangout (Friday 2 pm), I discuss how and when you should advertise.  If you think that someone who earns 97 per cent of his income from advertising would urge you to pay for advertising in our (or any) media, you will experience a surprise.  I suggest that advertising should be carefully considered and only used after you've fully accessed the "low hanging marketing fruit" of systematized repeat and referral programs, and effective public speaking and presentation initiatives.

When you are ready to advertise, you should also be aware that the cost-per-lead will (short term) be much higher than through the repeat/referral and public speaking options and you should be careful not to put all your eggs in one basket.  If you have a $2,000 marketing budget and use it all on one advertisement, you are likely to be extremely disappointed in the results.

Conversely, at a crucial stage in your business growth, you can experience a quantum jump in the amount you should spend on advertising, and the results you can expect to achieve.  This is because if you can afford enough advertising to be extremely visible to your potential clients, you'll benefit from the synergy of your advertising.  As well, while the acquisition costs of advertising-based leads are high, their lifetime value -- and their ability to generate repeat and referral business -- can also help your business.

Please feel free to join me at the 2 p.m. video broadcast/hangout.  You can find information about how to register for a Google Plus account to gain access in the sidebar at constructionmarketingideas.com, or you can email me at buckshon@constructionmarketingideas.com.