The market for electrical contractors in the US is at an all-time high. In fact, it is projected to reach almost $284 billion by 2028, a rise from $225 billion in 2022.
This growth is especially notable in the commercial sector. The average revenue from new construction has risen to over 36% – an indicator of economic strength which presents a wealth of opportunity for contractors looking to grow their business.
Although the opportunity for your commercial electrical contracting business is undeniable, the landscape is still highly competitive and in order to position your business as a leader, you need to combine your expertise with modern strategies.
How to Power Up Your Commercial Electrical Contracting Business
With the industry continuing to grow and a new level of demand for commercial electrical contractors, there is no better time to power the growth of your business.
To make your mark on the industry, here are five strategies that can take your business to the next level…
1. Keep up with tech trends
With the commercial electrical industry continuing to evolve at a rapid rate, not keeping up will quickly leave your business falling behind the competition.
By staying up to date with the latest technology systems, new techniques, and project management tools, you will not only be leading the way as a contractor, but will also be able to improve your everyday operations.
Since new technology starts to trend due to its cutting-edge innovation, implementing it into your own business can mean finding better ways to work and providing a better service to your customers.
2. Find your niche
Instead of trying to find any work that you can get your hands on and making sure that your calendar is full to the brim, consider where your specialities as a commercial electrical contracting business lie.
Specializing in a particular area is often preferred among customers. Whether that be electrical contracting in healthcare facilities, industrial facilities, historical buildings, or security systems, tailoring your business to a certain niche will help you become the go-to expert.
By offering expert services to a certain niche instead of a mediocre service to everyone, not only will you be able to gain a reputation in a certain industry, but you will also help yourself stand out among the competition.
3. Create an online portfolio
In today’s age, word of mouth and traditional printed marketing strategies are not enough. People now head straight to search engines when they are looking to find contractors or local businesses, comparing different options by browsing their websites and reading reviews.
To stand out and showcase your expertise as a commercial electrical contracting business, creating an online portfolio will help show off your best work.
An online portfolio should consist of high-quality images or videos to help viewers visualize the project, along with a case study to detail the work that was carried out. Including client reviews is also a great way to showcase happy customers and build up a sense of trust in your services.
4. Make environmentally friendly decisions
Environmental impact is something that can no longer be ignored, and consumers are actively making more sustainable decisions to play their part. Electrical contractors are no exception from this, and there are changes that you can make to reduce environmental impact.
Whether you choose to install energy-efficient systems, use renewable power sources, switch to sustainable materials, or change how you dispose of any waste, these changes are all big steps that show your commitment to the environment. This can be a huge bonus for potential customers who are looking for a commercial electrical contracting business as it shows your more human side and separates you from other businesses.
Publicly sharing any environmentally friendly decisions that you make as a business is a great strategy to not only showcase your commitment to reducing environmental impact, but also to open up new sustainable project opportunities.
5. Attend trade shows
Trade shows bring together professionals and clients across the industry, offering a prime opportunity for you to network and identify new business opportunities. By locating relevant trade shows and making sure to have a presence at each, your business can build up its reputation and showcase its services.
As well as using it as a chance to generate new business, it is also a great chance to learn from leaders in the industry. Since trade shows see businesses showcasing new technologies or hosting educational talks, you may come away with new inspiration for your own business.
Continuing to Grow Your Business
As the commercial electrical contracting industry continues to thrive, make the most of the opportunity to grow your business and build a strong reputation.
By keeping up with tech trends, finding your niche, creating an online portfolio, making more environmentally friendly decisions, and attending trade shows, you can continue to find new ways to position your business as a leader in such a competitive landscape.
