By {{Article.AuthorName}} | {{Article.PublicationDate.slice(6, -2) | date:'EEEE, MMMM d, y'}}
{{TotalFavorites}} Favorite{{TotalFavorites>1? 's' : ''}}
A strong brand can give construction firms a great deal of leverage from a pricing standpoint. It can increase a firm’s competitive edge, pricing power, timeliness of payment and even tolerance of change orders.

Let’s make one thing clear. The owner or facilities manager will never say a firm won the job because it had the strongest brand. However, the brand affects perception and behavior.

What is a Brand?

A brand is not just a logo. A brand includes a logo, color scheme, tagline (if one’s available), reputation, client experience and overall perception of the firm. It is this collection of factors that collectively influences customers’ buying decisions and willingness to loosen the purse strings.

One of the best ways to illustrate branding power is with the common scenario of car shopping. Regardless of what we drive, we have all test-driven vehicles from economy to luxury and made buying decisions based on our perception of a brand.

When you jump into a BMW, for example, you are immersed in quality from the design of the exterior and the layout and appearance of the engine, to the attention to detail and sturdiness of even the smallest components such as the shifter. The experience really sets in when the engine roars and you experience the responsiveness on take-off and smooth humming on the highway.

Then you jump into an old Mercury Cougar and it’s like being awakened with a bucket of ice. From the appearance to the driving performance, it becomes readily apparent why Ford discontinued the brand. It’s safe to say your definition of value and price tolerance would be drastically different after experiencing these two brands.

Building a Brand

Understand that a company can only directly build a portion of its brand. The remainder will be built indirectly.

A company can design a logo, choose colors, and communicate its value proposition to the market through public relations, advertising, website copy, mass email campaigns and social media. But the firm can’t directly control its reputation and how it is perceived. The market will do that on its own.

This area of indirect branding is a scary place because companies lack direct control. It’s based on the firm’s performance before, during and after projects; customer satisfaction; and what clients and competitors say about the company behind closed doors. In other words, it’s about how the outside world experiences the brand.

If a firm wants to win more work, increase profitability and sack the competition, it must invest in building a strong brand.

 Comments ({{Comments.length}})

  • {{comment.Name}}


    {{comment.DateCreated.slice(6, -2) | date: 'MMM d, y h:mm:ss a'}}

Leave a comment

Required! Not valid email!