Top 4 Electrical Business/Marketing Plan

Electrical Business/Marketing Plan:Finding ways to grow your electrical contracting business requires development of a marketing plan.

A marketing plan also gives you a guide for staying on top of the changes in the market.

Such as when competitors come and go.

Or when your customer’s needs for electrical installation or repairs change.

Once you finish your marketing plan, share it with your electricians.

As well as sales and administrative staff so everyone knows where your firm is headed.

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Electrical Business/Marketing Plan

1. Electrical Business/Marketing Plan:Know the Current Situation

Your plan should explain your current situation.

Including how long you’ve been an electrical contractor.

When you started your own business and who your clients are.

If you’re a startup business, explain your background and experience in electrical contracting.

Describe the target market you want to pursue.

Such as developers who need electricity installed in their new buildings.

Homeowners with remodeling projects or businesses that need upgraded electrical services.

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2. Electrical Business/Marketing Plan:Know the SWOT Analysis

Use a SWOT analysis to figure out and stay on top of your company’s Strengths.

Weaknesses, Opportunities and Threats.

For instance, your company’s strengths might include your past experience as a contractor.

And the fact that you already have clients to jump start your business.

Weaknesses represent potential problems for your firm.

Such as a lack of qualified, licensed electricians on staff.

Or no centralized office space to run your business.

Opportunities might consist of a high number of upcoming construction projects in your area that need electrical services.

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Or the fact that one of your competitors is going out of business.

So their clients need to find a new electrical services supplier.

When it comes to threats, look for outside circumstances that affect your business.

Such as competing electrical contractors who go after the same contracts as you.

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3. Electrical Business/Marketing Plan:Identify the strategies Promotions

Identify the strategies you plan to use to convince businesses and homeowners to contract for your electrical services.

For instance, include sales calls to contractors and remodeling firms.

As well as getting in touch with government agencies.

To find out what they require to give you an electrical contract.

Using telephone directory advertising is another form of promotion.

Other tactics include direct mail, sales letters and a website that outlines what you offer and why prospects should call your firm rather than another electrical contractor.

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4. Electrical Business/Marketing Plan:Figure out your Budget

Figure out how much to spend on your marketing efforts by setting a budget.

According to “EC&M;” magazine, contractors should plan to spend from four to six percent of their gross sales on marketing efforts.

If you appeal to residential homeowners or property managers, include up to 25% for Yellow Page ads, says EC&M.

Include from 15 to 30 percent for direct mail efforts.

uch as sales letters to contractors and postcards to residences to encourage them to hire you for their electrical needs.

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