You might think you have it hard — increasing competition, tighter margins, curtailing of public sector funding, and private consumers declining to do work. Coupled with a shortage of skilled labour when you need it, and incredibly challenging and complex regulations (which seem to be increasing by the day) you might think: ”When will this end?”
Be glad you are not in the print media business, are not a conventional television broadcaster, and that you don’t publish encyclopedias for a living. Oh, if you are into mobile communications, that you aren’t one of the “also rans” falling off the cliff as competition intensifies among an industry leadership duopoly. Or you are a high tech (or call centre) operation who finds the work outsourced to various third-world competitors.
Some things are fundamental to the building and construction industry, in comparision to other sectors. Builders, well, build stuff. You need to do it locally. Sure, out-of-town competition is possible, and there isn’t too much to build when no one else has any money. But the building still needs to go up locally.
As well, while technology may change the character of bricks and mortar, physical buildings (and public works and other services) need to tangibly be put into place, with real services, employee, workers and resources.
In other words, while the industry is changing, it isn’t going away as we know it, any time soon. (Tell that to a daily newspaper publisher or, even Kodak.)
How does this observation influence your marketing decisions? Well, you don’t need to panic. You can adapt and incorporate new media and technologies into your marketing, and you should. You can improve your efficiencies and create better working environments, but, outside of the usual issues of ups and downs affecting the industry, you don’t have to worry that your trade will disappear in the next decade. Be thankful.