4 “R” words turn remodeling into marketing roi

Remodeling Your Business? 4 R’s Turn Renovations into Remodeling ROI

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Business remodeling out of necessity or desire, undertaking repairs, renovation and redecorating can be a costly endeavor. Get a bigger return on your investment by taking these marketing strategies into account.

Get Marketing ROI from Business Remodeling with 4 R’s:
Repair, Renovate, Refresh and Re-Engage

Making needed repairs, buying new furnishings and décor, updating technology, bringing a facility up to code and all of the other activities that may be involved in a typical business remodeling project is no small feat – and usually doesn’t come with a small price tag, either.

Remodeling Magazine lists the average cost of small office renovation as $187.50 a square foot, including just the basics, like cabinetry, counters, storage, carpeting, drywall and modern wiring. If your renovations entail more than these basics, the price tag per square foot could be even higher. But there is a way you can turn this expense in to an asset and generate marketing ROI from business remodeling as a strategy.

4 R’s Turn the Cost of a Business Remodeling Project into Marketing ROI and Business Revenue

1. Repair

No business is perfect; remodeling your business could give you an opportunity to repair certain aspects of the customer experience which are negative or less than ideal. As you plan your business remodeling project, think about your facility as it pertains to the customer experience from beginning to end. This may affect placement of convenience areas (like your front desk / greeting area to your restrooms, water fountain or other hospitality touch points).

Get More Marketing ROI from a Business Remodel: An open house or grand re-opening event following renovations is a great time to reach out to lapsed customers or customers who left due to dissatisfaction to “repair” the relationship. Extend an invitation to return and give your business a second chance to make a good first impression!

2. Renovate

Thefreedictionary.com provides this definition for renovate: “to impart new vigor to; revive” and “to revive or refresh.” It’s no coincidence that ‘renovate’ and ‘innovate’ can both be traced back to the same root word – “nov” – meaning new.

Your business remodel can give you an opportunity to refresh, revive and impart new vigor to your brand. With these words comes the idea that you are not throwing out your old brand for a new one; rather, you are restoring your brand to its best condition.

Get More Marketing ROI from a Business Remodel: As you plan your business remodel, be sure that you are infusing your renovations with the values and traits that you want customers to believe to be true about your business and your brand. If your brand is youthful and playful and casual, why would your walls be a boring business white? If your brand is timeless and classic, then the colors and furnishings that you choose should be a reflection of this – and so on.

3. Refresh

Before you tear out any walls, rip up any flooring or sign off on your business remodeling plan, take a fresh look at your business as it is now as well as how you envision it will be following renovations. While it’s normal to be excited about a total makeover, you may not want to change your business so radically that long time loyal customers no longer feel personally attached to your brand.

You may find a way to repurpose furnishings, artwork or aspects of the customer experience that will preserve aspects customers really value when they do business with you – so that even though your look is “new,” it will still be familiar to loyal patrons.

Get More Marketing ROI from a Business Remodel: Take advantage of the opportunity to remodel your business to incorporate as many enhancements to the customer experience as possible, including improvements that may mean they will be refreshed in some way so that they will shop longer, spend more, feel more pampered and appreciated, leave rave reviews for your business online, be motivated to refer friends and family to your business, etc.

4. Re-Engage

If you build it, they will come – but not because you built it! Many businesses have had the vision to renovate only to close shortly thereafter – not because they shouldn’t have remodeled their business, but because they did not realize the importance of engagement marketing.

A business remodel can result in new customers coming to your business and renewed interest and enthusiasm from your customers and even your employees. Be sure that your business remodeling plan includes a grand re-opening, new customer acquisition marketing tactics, an event for your most important, loyal and long-term customers and incentives to get them in the door.

Get More Marketing ROI from a Business Remodel: Beyond events, here are some more marketing tips to help you engage with new customers and re-engage your customer base to grow your business during and after remodeling:

  • Take every opportunity to build your contact database so you can expand your email marketing reach
  • Engage prospects and customers social media by sharing photo updates throughout your business remodel project
  • Get them invested in the outcome! Ask their opinions about colors or ask them to vote for their favorite style desk, waiting room chair, artwork, candy dish – something!
  • Share “DIY” repair, remodeling or renovation tips you learn along the way
  • Take photos of customers at your open house or grand re-opening event to post on social media and “tag” so that their online followers see they attended