Some building material companies establish business and thrive, while others, unfortunately, do not. Building suppliers need to be able to keep up with today’s demands for advanced construction products and fast service. For independently owned lumber yards and home centers, achieving success relies heavily on effective daily operations and how customers are provided for. As a construction supplies company that has been in business for over 70 years, we recognize the challenges that building suppliers must overcome in our industry. Our ability to adapt to the changing times has allowed us to improve our services, as well as expand. Here we point out five essential challenges that must be surmounted in 2015.
- Combat Larger Brand Name Rivals
The thing about big box stores is that their brand is recognized nationwide, not to mention their franchise locations seem convenient for consumers to get to. But local building suppliers have a leg up when they promote their status as a local business, which can increase repeat trade and enhance customer loyalty. Keeping the customer’s favorite products in stock also puts local building distributors at an advantage, as opposed to big chain enterprises.
- Providing Your Customers with Faster Service
If you are a local home center that is still using old-fashioned techniques to operate your business, the time may be running out for both you and your customer, literally. In today’s market, customers do not want to wait for their products or service and tend to have less patience. Investing in a quality software solutions product, or partnering with a software solutions company, will enhance the production process of your company significantly by having faster access to reports, better organization, instant information retrieval and quicker point of sale transactions.
- Having Access to Products for Retail Inventory
One of the main reasons why customers shop at big-box stores is because they have a larger selection of products to choose from. Always make sure that you have the products your customers need in stock. Provide them with the highest quality of products by trustworthy trademarks.
- Managing Competitive Pricing
Providing consumers with attractive sales and promotions are your best tactics for keeping a large customer base. Since it may be more difficult to purchase items in bulk at wholesale prices, issuing a sale can make up for the higher pricing needed to make a profit.
- Gaining a Long-Term Customer Base
Instituting a strong relationship with your customers is crucial to ensuring that they come back again and again for more building supplies. By providing them with a friendly attitude, sales assistance and helpful insight, you will be exceeding their expectations. We suggest that you get to know each customer so that you can best meet their needs. Your business will greatly grow and expand by establishing a long-term customer base.
Although these challenges may seem daunting, they can all be conquered with determination and drive. We guarantee that your customers will need you just as much as you need them – especially when it comes to remodeling, building and hardware.