Scale Your Company - 5 Effective Business Strategies

The renovation industry has witnessed significant growth over the last few years, and that’s despite inflation! A lot of homeowners, particularly baby boomers, are to thank, preferring renovating over selling their homes and moving. Renovations allow people to improve their comfort and quality of life, adding value to their property in the process.

How can renovation companies attract more customers and close more deals? What are the key factors that drive a renovation contractor’s success? Uncover effective strategies to optimize your approach, stand out, and boost your conversion rate.

How to Grow Your Business for Short and Long-Term Success

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The following tips apply to both small start-ups and established businesses that never really looked into or taken the time to develop an accurate and comprehensive strategy.

1) Outline your goals and action plan 

Most contractors have a very general idea of ​​what goals they want to achieve. They want to earn a living; they want to work hard and take time off when they please. However, not everyone takes the time to make a plan, detailing quantifiable goals, predictions, and an action plan. 

Take some time to assess your business, both its strengths and weaknesses. Also, look at the current state of your local renovation market. Then, establish a plan with this information in mind.

If you doubt your ability to analyze the information and draw up a realistic plan, don’t hesitate to call in the services of a business valuation expert. They’ll meet with you, explore your options, and guide you in tailoring them to your goals and market conditions

2) Build an online presence

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Are you still without a business website or a social media presence? Why wait? If you don’t want to invest a lot of time or money, opt for a microsite (one-page website) or devote your attention to your social media. 

These platforms are great ways to showcase your company, share testimonials from former customers, highlight your past work, and communicate more effectively with your customers. 

3) Set up a standardized process for quotes

We all have a unique way of submitting quotes. Some prefer to have very detailed worksheets, outlining every aspect of the project, while others write basic information on a sheet of paper, without going into specifics. 

Typically, customers prefer the former; contractors tend to build trust with potential customers from the onset through attention to detail, showcased by a detailed quote during their initial meet-up. On the other hand, it's clear why some might avoid spending so much time on a single piece of paper.

If you’re opposed to changing your quote-submitting process, at least take some time to structure your presentation, helping you feel more organized. This will help win over customers and secure deals.

4) Use task management tools

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Life is increasingly busy, and managing a schedule can be overwhelming. Fortunately, we have access to a multitude of scheduling and task management tools, free or affordable. 

Looking for efficient business management tools? We listed a bunch in our article:

• 6 Apps to Help You Run Your Renovation Business

5) Leverage customer referral platforms

Contractors used to find customers by paying to feature their names in the phone book, or through word of mouth. Nowadays, habits have changed, and people hop online to make requests. 

Homeowners use search engines to find contractors in the hopes of getting a project-specific quote. More and more people are also using referral platforms like RenoQuotes.com to hire reliable and certified contractors. 

As a contractor, a referral platform can be an effective way of finding potential customers, given that there’s little effort to be made. Register, fill out your contractor profile, and list the services offered and the territories covered. Then, projects will start rolling in, usually via email. Once you have accepted a project and received the customer’s contact information, it's up to you to communicate with them and submit a quote. 

As for RenoQuotes.com, we receive hundreds of projects every week; projects are validated and sent to relevant contractors. The latter receive basic project information and, for a small fee ($5–$50), click "Yes" to access a complete customer profile. It's a quick, simple, and effective way to reach out to new customers, without having to invest a ton of money on ads.

FAQ Scale Your Construction/Renovation Business

How can you promote a business?

Combine digital marketing efforts (website, SEO, social media), local ads, and specialized referral platforms like Reno Quotes. Word of mouth and customer reviews are also essential aspects of cultivating a brand.

How can you future-proof a business?

Offer quality service, focus on customer satisfaction, and implement an effective cost and project management process. Don’t limit your services; stay aligned with market trends and comply with local building standards and regulations.