A contractor’s win rate on their bids can make or break their business.
In today’s post, we’ll discuss four, surprisingly simple strategies that will take your business to the next level.
Here’s a hint, it has nothing to do with getting more leads…
Before you read! Want to get straight into the action? Check out our video on this same topic:
While you’re at it, feel free to check out our FREE training video on how you can 3x your construction business in 90 days! Click the button below, enter your email, and start growing your business today!
Tip #1: Follow-up on jobs
Most contractors do not follow up on their jobs, which means that once the bid is sent, they go radio silent…
What they don’t realize is that this is destroying the winning rate on their bids.
The reason for this is because when owners send out invitations to bid, all that they have to judge each contractor by is their price, so your odds of standing out are slim.
But all this changes when you follow up. By visiting the client or simply giving them a call, you give them a face to the name and show that you actually care about their job.
Pro Tip:
How do you stay on top of following up with your clients? Use a customer relationship manager (CRM). There are tons of CRM software online, but all you really need to get started is a spreadsheet that can store client information and schedule appointments.
Tip #2: Build Client Relationships
So many contractors forget that we are in the people business not the construction business.
As a contractor, you are the face of your business and that means you are only as valuable as you are available.
From the eyes of a client, a contractor who visits, is friendly, and shows genuine care for the job is 10x more valuable than a contractor who they’ve never seen before who is just offering a cheap price.
On top of visiting your clients when you can, make sure to also call them regularly. Some important rules about phone calls is that you should always call:
- After the submittal
- The week after the submittal
- And once a week throughout the whole bidding process
Pro Tip:
While it is important to build relationships with your clients, don’t be annoying. For example, calling your client every day about your bid may appear desperate and have a negative effect on your customer relationships.
Tip #3: Mere-Exposure Effect
There is a concept in psychology called the “mere exposure effect” that basically states that people prefer things they are more familiar with.
This is important to consider when bidding for jobs. A lot of contractors think the only way they can stand out is by being the low bidder, but familiarity is more important than price.
By regular connection to a client’s touch points (for example, email, phone, in-person conversation, etc.) contractors are basically setting themselves up as the most notable candidate in any given bid.
Imagine what kind of effect these kinds of odds can have on your business!
Tip #4: Increase Your “Perceived Value”
As I mentioned above, most contractors think that their value comes mostly from being the low bidder, but this isn’t necessarily the case.
Imagine if you are an architect, and a general contractor who is bidding on one of your projects approaches you, offering to perform an estimate for you completely for free.
As someone with previous experience in an architectural firm, I can confirm that a contractor like this would make any architect jump for joy at the thought of free consulting and this is why your value is more than just your price.
When people perceive something has high quality, they are willing to be more lenient with its price. It’s the same reason Gucci costs thousands, while Old Navy is… just Old Navy.
Pro Tip:
In previous articles we’ve discussed the importance of helping architects and designer clients because of the future jobs these clients can provide you. If you want a way to get free construction leads, consider reaching out to architectural clients to give free estimates, budget consulting, or material advice.
The Secret to 10X your Construction Business
If you are interested in growing your construction business, I’ve prepared a short training video for you that you can watch for FREE:
In this training, I will show you how you can put your estimating on autopilot and boost your sales to 10X your business in 90 days; step-by-step with a simple copy and paste formula!
A contractor’s win rate on their bids can make or break their business.
In today’s post, we’ll discuss four, surprisingly simple strategies that will take your business to the next level.
Here’s a hint, it has nothing to do with getting more leads…
Before you read! Want to get straight into the action? Check out our video on this same topic:
While you’re at it, feel free to check out our FREE training video on how you can 3x your construction business in 90 days! Click the button below, enter your email, and start growing your business today!
Tip #1: Follow-up on jobs
Most contractors do not follow up on their jobs, which means that once the bid is sent, they go radio silent…
What they don’t realize is that this is destroying the winning rate on their bids.
The reason for this is because when owners send out invitations to bid, all that they have to judge each contractor by is their price, so your odds of standing out are slim.
But all this changes when you follow up. By visiting the client or simply giving them a call, you give them a face to the name and show that you actually care about their job.
Pro Tip:
How do you stay on top of following up with your clients? Use a customer relationship manager (CRM). There are tons of CRM software online, but all you really need to get started is a spreadsheet that can store client information and schedule appointments.
Tip #2: Build Client Relationships
So many contractors forget that we are in the people business not the construction business.
As a contractor, you are the face of your business and that means you are only as valuable as you are available.
From the eyes of a client, a contractor who visits, is friendly, and shows genuine care for the job is 10x more valuable than a contractor who they’ve never seen before who is just offering a cheap price.
On top of visiting your clients when you can, make sure to also call them regularly. Some important rules about phone calls is that you should always call:
- After the submittal
- The week after the submittal
- And once a week throughout the whole bidding process
Pro Tip:
While it is important to build relationships with your clients, don’t be annoying. For example, calling your client every day about your bid may appear desperate and have a negative effect on your customer relationships.
Tip #3: Mere-Exposure Effect
There is a concept in psychology called the “mere exposure effect” that basically states that people prefer things they are more familiar with.
This is important to consider when bidding for jobs. A lot of contractors think the only way they can stand out is by being the low bidder, but familiarity is more important than price.
By regular connection to a client’s touch points (for example, email, phone, in-person conversation, etc.) contractors are basically setting themselves up as the most notable candidate in any given bid.
Imagine what kind of effect these kinds of odds can have on your business!
Tip #4: Increase Your “Perceived Value”
As I mentioned above, most contractors think that their value comes mostly from being the low bidder, but this isn’t necessarily the case.
Imagine if you are an architect, and a general contractor who is bidding on one of your projects approaches you, offering to perform an estimate for you completely for free.
As someone with previous experience in an architectural firm, I can confirm that a contractor like this would make any architect jump for joy at the thought of free consulting and this is why your value is more than just your price.
When people perceive something has high quality, they are willing to be more lenient with its price. It’s the same reason Gucci costs thousands, while Old Navy is… just Old Navy.
Pro Tip:
In previous articles we’ve discussed the importance of helping architects and designer clients because of the future jobs these clients can provide you. If you want a way to get free construction leads, consider reaching out to architectural clients to give free estimates, budget consulting, or material advice.
The Secret to 10X your Construction Business
If you are interested in growing your construction business, I’ve prepared a short training video for you that you can watch for FREE:
In this training, I will show you how you can put your estimating on autopilot and boost your sales to 10X your business in 90 days; step-by-step with a simple copy and paste formula!
