Let’s say you do kitchen remodels, or additions, or basements, all major renovations that cost between $35,000 and $50,000 even in a down economy. So how do you convince the consumer to buy from you instead of your competition? There are a couple of ways.
- Sell a feeling, not a product – Instead of promoting fixtures, flooring, lighting or bathtubs, sell them on how having a remodeled bathroom will make the homeowner feel.
- Start high and work your way down – If you present the best of the best, the most upscale projects and capabilities before you discuss the full range of mid-priced and lower-end projects, then you have a better chance of selling the project ABOVE the level the client anticipated.
- Work now with next year in mind – The economy isn’t going to suck forever, I promise. But there is a bright spot to this train wreck of an economy we have had. That bright spot is that many of the knuckleheads you used to compete with have gone belly up, which means there is less competition in the marketplace. So start preparing your business now for next year and the year after that, long after we should be enjoying at least a modest recovery.
- Talk to people about value instead of price – This is a big one, every time you associate a cost to something, the husband’s head spins, unless you are talking finished basements or media rooms. Instead, focus on great quality at reasonable prices to be more effective when trying to close.
- Follow-up, follow-up, follow-up – Once you complete the project you need your client’s feedback, both good and bad. Ask them what they liked about working with you, and whether they have friends or neighbors who might be interested in home improvement projects.
- Promote – Promote – Promote – Not just with traditional marketing and advertising, I mean get out there and build partnerships and relationships with affiliated businesses and industries. For example, reach out to 5 real estate agents, 5 interior decorators and 5 architects each week and start building a team of people who you refer work to and get work from.
Remember, what you do today determines your business life a year from now, and what you did a year ago is impacting your business right now, so work today for your business tomorrow!
Photo Credit: Little Debbie
2 thoughts on “6 Tips to Sell High-End Renovations in a Weak Economy”
Great post. I agree. Some of the most rewarding posts don’t show the earnings potential until about a year later, when people who are contacting you this year are looking for assistance after learning from your information that came out last year.
Thanks Elle for stopping by and commenting!
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