The feed basket still seems to be strapped to many companies across the construction industry as they continue to search for the best places to invest their profits. It remains obvious that rapid spikes in success are still preferred over organic growth, with many companies willing to pay a premium for the proven performer.
As this plays out, the big deals seem to only get bigger. Take a look at the $2.6 billion purchase by Beacon of Allied. The combination will create a $7 billion industry player, putting the conglomerate just under ABC Supply. On the other end of the spectrum, other companies seem to be buying smaller competitors or channel partners at a rapid rate. These often seem to be efforts to strengthen their foundation on long-term strategies or simply protecting interests with their key customers.
Your competitive landscape is likely changing a lot (and we haven’t even touched on the potential disruptor threats). Also, the downward pressure of commoditizing your offering is likely being felt more than ever. If you find yourself nodding your head yes right now, here are a couple of suggestions to help you fight off that pressure and grow your brand’s value among your customers.
The most vital suggestion focuses on the responsibility of the brand steward: stay true to and leverage your brand’s differentiation. Beyond the obvious, be sure you’re using everything in your arsenal to maximize your brand’s value.
A few overlooked components include:
No doubt, the landscape you play in today will be vastly different from the market we expect to see tomorrow. Hopefully these points will help you evolve your brand and stay relevant as the shifts continue to happen throughout the rest of 2018.
If you’re a manufacturer of American-made goods, you already know the value of the “Made in America” claim has ebbed and flowed over the past few decades. Recently, however, it seems to be making a comeback. Bill Rossiter, agency owner and principal, discusses Morning Consult’s “Made in America” report and shares how you can leverage the power of Made in the USA on your own homegrown products.
Mentorship efforts in many companies can look like rigid and formal programs. While those efforts are important, for a game-changing effect, you need to embed mentorship into your culture and the way your team relates to each other. Here, Agency Principal Bill Rossiter’s reviews the do's and don’ts of effective mentorship.
While businesses nationwide strive for diversity, age remains a largely overlooked aspect. Conversations tend to focus on gender and race, but a team with a wide range of life and work experiences is incredibly powerful. Learn why a multigenerational team is a key differentiator that’s too often overlooked.