Last month in this space, I reviewed a series of market projections for 2014 from Harvard University as well as the industry’s leading associations.
Making a List and Checking It Thrice
Gary Nash, owner of Nash Construction, developed a 12-point checklist that describes every phase of the construction process to clients.
When you drive into Jiffy Lube for an oil change, the company’s 16-point check explains exactly what service will be performed on your car and guarantees your satisfaction.
Gary Nash, owner of Nash Construction in Marshall, Va., developed a similar 12-point checklist that describes every phase of the job to his clients. The list ends with the Nash Triple Guarantee, a written assurance that customers will receive performance, reliability during the project and added value to their homes once the job is completed.
"We have found consumers have a little bit more faith in a system or process than in my word," Nash says.
"When I segmented and targeted my market, I did a demographic of who our clients were," Nash says. "Then I identified where we made the most money. From the demographic survey, I developed a psychographic survey of the Nash profitable client." He determined that his ideal client is a homeowner who is fed up with empty promises, missed deadlines and unsatisfactory jobs.
"That’s the client I want," he says. "Do you think this guy cares about price? No way. They just want it done."
Nash took the information he had gathered, pinpointed the purchase preference of those potential clients and developed his company’s unique selling proposition (USP): "Nash Construction, where what we promise happens."
Using that USP and the Triple Guarantee program, the company has experienced remarkable gains. "It’s identified clients, and it has ultimately increased our profits," Nash says. Since the system was implemented, Nash’s net profit has gone from 3%-5% to 17%.
For Nash’s 12-point checklist or more information on the Triple Guarantee program, visit www.housingzone.com.