Is your Restoration Business the Next Macy’s or Toys R Us?
In recent news, Macy’s just recently announced this week that it will be closing 125 stores over the next three years and getting rid of 2000 corporate employees. We saw the same thing with Toys R Us a few years ago, and these once dominant companies are now a part of no existence.
I hear over and over again "that doesn’t pertain to my business" and "it would never happen in this industry" But the fact of the matter is that it continues to happen. As we continue to see companies like Amazon, Tesla and many more rise in the marketplace, it is important to evaluate your own business and ask yourself the following questions.
1. Is there a better way of doing things for my business?
Think about systems and processes. Look hard at the customer experience with your business and take a deep look in the mirror and ask yourself if it is truly at its best. Don’t ignore if someone new is doing something that is catching attention. It is extremely critical to constantly be evolving in your business. Don’t be afraid to learn new things and study consumer patterns in the marketplace. Just look at how consumers transacted 20 years ago. 30 years ago. So much has changed and things will continue to change. Don’t stay married to one way but focus on innovation and positive change.
2. Am I embracing technology in my space?
Technology is changing the game on a daily basis. Just because your business cleans up water and fire damage, and restores things to pre loss condition, don’t neglect the opportunity if are better ways to use technology to do things better, faster, or more efficient. In simple terms, work smarter! Technology that is readily available should already be on the forefront of helping the customer understand the mitigation process from start to finish. It has never been easier to use live documentation and detailed imaging to make every customer feel secure that they made the right decision with your company when handling a loss.
Over the next few months we will also be discussing the importance of Artificial Intelligence and how it will impact the restoration industry. It is definitely a topic you should start to become familiar with.
3. Do I really understand the importance of digital marketing to obtain new customers?
Marketing overall has continued to evolve and will not stop any time soon. There was a time where TV, radio, print and billboards where the four best options. Now the attention of consumers is so widespread, it is important that attracting attention is a very difficult task. When it comes to digital marketing there are three main sectors to pay attention to: 1. Search Engine Optimization (SEO) 2. Paid Search (PPC) and 3. Social Media. Having an up to date/mobile friendly website and avenues for consumers to find it during a search is critical for your restoration business. Google continues to make changes and make it more challenging if you are not actively working with their changes to improve your rankings and search visibility.
Social Media will continue to be where consumers spend their daily time and the task to capture their attention will get harder each year. There is no one platform alone that can drive all business to your doorstep. It is critical to make sure you understand each platform and the demographics they cater too. However, many social platforms like Facebook, and Instagram serve a wide range of users. New platforms like TikTok and Byte emerge every year and it is important to keep a close eye one where consumer attention is going. Don’t ever say to yourself, “That is only for young kids” Or “My customers will never use that.” Year after year it has been proven that each platform starts with one demographic and quickly explodes to catering multiple users. Embrace the platforms and look toward creativity to find ways to capture that attention on a daily basis.
Overall it is important to always ask yourself the following questions. They might not completely make your future foolproof from failure but I can promise you it is a good start. The world and its consumers will continue to evolve and no one is immune from the changes that will continue to come. Embrace the change and don’t be the next Macy’s or Toys R Us.