A target market refers to a group of people who will most likely invest in your product or service. These potential customers are the bread and butter of your business, increasing your current revenue and ensuring future, repeat business.
In the portable restroom industry, target customers often fall into two categories: construction/demo and events. Although the mechanisms for marketing are similar, the two categories are very different. You will want to approach each target customer or target business with a different strategy, as they both offer numerous benefits that can lead to long-lasting, continuous relationships.
Conducting market research doesn’t have to take up the majority of your time, and it doesn’t have to be incredibly specific, either. Take a quick look at the area your business serves. Look into city logs or contact a specific district to see what projects are scheduled in the near future. If you are looking into supplying portable restroom rentals for events, activities and weddings, find vendors and event planners and mark your calendar to discuss options with industry leaders and planners to get your units to the top of the list.
In addition to conducting market research, find customers who are unhappy with their current provider. After their contract has expired, ask for the opportunity to provide a better experience for their next event or job. Familiarize your entire team with the strengths of your company. Whether a driver happens to have a conversation with an event planner who had a terrible experience with their last provider or a customer service representative fields a call from a construction company looking to make a switch, the more your team knows about your business and the benefits your company offers, the more customers you will attract in the long run.
Construction and demolition customers can be targeted through a wide range of mechanisms, and if you are just starting out with your portable restroom rental business, you’ll want to look at upcoming construction projects in your city to target potential customers.
Similarly, target customers can be estimated through market research of construction trends in your region. Are statistics up or down? Is there a neighborhood that is up and coming with new projects? Target these areas and contact construction companies who have the potential to create long-term relationships for your portable restroom rental business. Have your team keep an eye out for billboards, signs or notifications when driving from job to job, or simply get involved in the local community.
Event customers tend to be higher maintenance and more work, but there is more profit and more exposure received for booking these jobs. Events bring heavy foot traffic, large groups of people, varying environmental conditions and the potential for frequent maintenance checks and tank changes. The more you offer, the better chance you have at booking.
Event customers fall on a very broad scale including: weddings, music festivals, graduation/birthday parties, farmers markets, food and beverage expos, outdoor parties, sporting events and more. Stay connected in your local area to build a bank of customers you can target for business. Read local newspapers to research upcoming events, and contact event planners and businesses who serve your area for more than one event per year. Join up with local trade associations and business networking groups to perform network marketing to give your business more exposure.
For both construction and event industries, it is important to follow through with the information and benefits you offered. In the portable restroom rental industry, repeat business and forming solid relationships with event planners and construction teams ensures you are building a solid foundation for your company while increasing your business revenue throughout the year.