The present electrical business is clearly hurting. Is there a reason why some firms are making record profits while others are going out of business? When it comes to market share, this might be a factor. 

However, even the biggest electrical contractors do not require a substantial amount of additional work in order to retain or even increase market share. And if they were successful, then your success is not out of the question. The following are 4 strategies that will help you expand your business no matter what the present economic situation throws at you.

  1. Make sure your contact database is well-cared after.

Instead of having everyone maintain track of their own financial records (with little to no management monitoring), contractors tend to use haphazard methods, ranging from business card files to personal Microsoft Outlook folders, so they can keep track of their contacts. Even if a company has a centralized contact management system, it is unlikely that the data in its files are clean, full, and current

Organizing your contacts into a single database is an essential first step in enhancing your business development process. Microsoft Exchange is the most used e-mail system, and utilizing a public folder for contact storage might be a simple solution. In addition, there are a wide variety of CRM systems that may be tailored to meet your specific demands. There is also specialized electrical contractor software that takes into account all the possible features that will help optimize your business.

  1. Use the chance to meet and talk to people.

Bigger contractors with impressive facilities, automobiles, and staff should exhibit their expertise to owners and general contractors. They want to know you’re not a typical subcontractor and can handle difficult jobs. In-house material storage and pre-fab facilities show your professionalism and ability to start work quickly, as does office equipment that can manage their drawings and generate submittals quickly

A “work-in-progress” building may require to visit the customer’s office. This technique offers several advantages, including not worrying about their attendance. Even though most people intend well, inviting prospects to your facilities risks a low turnout. You and your clients win. You meet more people, and your customers are more comfortable. Mid-morning meetings are good since people are awake. Extra time before lunch lets you take meeting participants out to dine afterwards. Consider upcoming bidding dates, so you don’t feel rushed, or your customers are too concentrated on work.

  1. Work to build strong team ties.

Others get projects. Relationships help an electrical contractor secure a contract, but pricing also matters.

Most business transactions rely on connections. Every person in your company has a valuable link. Imagine all the connections you could build if you collected your service techs, foremen, project managers, estimators, etc.

  1. Finally, encourage word-of-mouth.

How can you take advantage? Customer service is the best “brand-building” tactic (as defined by the customer). What a waste! If you have bad customer service, this may work. A proverb says bad news travels fast.

Branding yourself helps you remain in clients’ thoughts. Brand awareness is created via events that reflect your company’s values. Potential customers may experience your brand via your business card at a meeting, your attitude, your workers’ public service, clean corporate cars, professional-looking apparel, hard helmets with your emblem, and stickers at the conclusion of a project.