The Extra Mega Bonus Strategy

The Extra Mega Bonus Strategy

We have all seen those late night infomercials where they are trying to sell you this unbelievably important product that you absolutely must have…and if you order now you will get it at 10% of the value or some ridiculous price.   My favorite part of those ads is when they throw out the “but wait, there’s more…” statement.  We all know it is coming, but yet somehow it works!   Those products make millions (otherwise they wouldn’t be paying for that TV time).

So what can you learn from these commercials and use in your bidding strategy for projects?   While you may not be able to offer a two for one, you can certainly take the idea of the “mega bonus” and use it to sweeten the deal for the homeowner or client.   So how do you do this?   The key is really figuring out what the client needs or wants, and offering them something that adds value in their eyes.   Something that, if all other things were equal (price, work quality, etc), your bid would stand out from the rest.   It is about the perceived value to the client, not the actual cost to your company (in most cases, this can even be something that is free).  You can also take a tip from the infomercials and offer a limited time upgrade to encourage them to act quickly.  Here are a couple of suggestions:

–  Extended warranty or service maintenance on the work

– Free upgrade to materials, or even an upgrade at a discount

– An extra service (electrical or plumbing work, addition of crown molding, etc)

– Discount on materials or service for their next project

There are dozens of things you can do to create added value and make your construction bid stand out, but it will come down to whether or not the homeowner or client perceives that there is value in it.  So take the time to really find out what the client is looking for, needs, and has on their wish list.   By tailoring the bid to exactly what they wish they could have, you will position yourself above and beyond the competition who are just bidding on what they need.

Tags: , , , ,
Posted on Jun 26, 2011 by admin | Posted in Construction Bids, Construction Leads, Construction Marketing

Leave a Reply

database management software