Is your business getting enough leads? Are your existing sales contributing enough to your business growth?
If the answer is “No,” you’re not alone – research by Service Titan suggests that only 45% of companies in construction are growing.
By now, businesses should realize that their target audience is looking for digital solutions. Keeping yourself updated with the latest trends and technology in the construction industry would help you connect with them easily. With the right approach, your marketing strategy can provide you a competitive edge.
Below are few challenges being faced by the construction industry:
- Increasing material costs
- Technology development and integration
- Stagnant productivity levels of construction projects
- Shortage of skilled labor
- Lack of safety practices
- Meeting standard compliance
- Adopting green construction techniques
Companies which beat these challenges would prosper and grow in the year 2019. Those who don’t would struggle to stay competitive.
Below are the top five things to consider which can help make 2019 better for your contracting business.
Table of Contents
1. Function with The Best Business Practices
One of the common issues which contractors face while improving their business efficiency is agreeing on what is thought as the best industry practices. After all, they already have a system in place which they believe is working just fine.
Companies can use the system they prefer to handle everything from scheduling, bookkeeping and invoicing to task management and training, as long as it can cater to the requirements, be it less productively.
However, with an effective system in place, not only would you be able to maintain your current level of success but would also help you be prepared to scale effectively when it’s the time to grow.
2. Ensure Your Presence on Platforms Where Your Customers Are Expecting You
The digital space is moving rapidly, making it difficult to stay ‘on trend’ constantly. Being found where customers want to find you is a vital thing for a construction business.
When was the last time you posted anything on LinkedIn or Twitter? Or when was your website updated? Have you have thought of online advertising?
If you experienced reduced inquiries in 2018, then maybe it’s time to review your online strategy. Ensure that you have the basics covered – Facebook Business Page, Google My Business account with all the important information filled in. Once you’ve claimed your listing, make sure that you have a good review strategy in place to help it stand out from the competitors.
Social media marketing would be a key aspect to drive business growth as you get ready for the year ahead. It would help you find different groups of users to market to. It has now become much easier and less expensive to reach out to new customers. If you want your business to get noticed online, you need to work on it.
3. Make Use of Cloud and Mobile Technology
A few years ago, most businesses in the construction industry didn’t know or couldn’t describe cloud technology. However, it’s not the case any longer. In the recent past, the adoption of cloud technology by the construction industry has skyrocketed. According to a 2018 study by IDG, 73% of companies have at least one of their applications on the cloud and 17% plan to do so in within the next 12 months.
Most devices today can use cloud from anywhere and at any time. Cloud offers a number of benefits for construction businesses, including storing unlimited data which can be instantly shared among team members with just a single click. Cloud is also a less expensive option – about one-tenth of what old technologies would cost.
As the cloud-based system can be accessed from anywhere with an internet-enabled device, it can become an important part of the industry, particularly for businesses that want to gain a competitive edge.
According to a survey by Sage, 85% of contractors have already adopted or planning to adopt cloud technology.
4. Project Management Solutions
Among the technological advancements, construction project management software is one that would play an important role in the growth of the construction industry in the coming years. In the last few years, the number of companies producing their own modules has increased.
Businesses today have better software options than they had a few years back. User interfaces are easier to use along with a plethora of features. Most project management solutions now come with equipment rentals, time solution, change order, and many other project management options. All these changes have made it easier for constructors to manage their projects.
A project management software can help keep all important documents related to the project in one location, which helps contractors and subcontractors get paid once the project is completed.
5. Better Safety Equipment Products
With the increase in new equipment, there would also be an increase in safety standards in 2019. Because of an increase in the number of deaths and accidents related to construction, serious efforts are being made towards improving safety equipment.
Work boots are available which can connect to the internet, send their GPS coordinates, and can also tell if the employees are tired or have fallen. The technology used in cooling vests and the moisture-wicking fabric is also getting agile and more efficient.
The availability of drones and other surveying equipment has made it easier for other issues occurring in a job site. This would ensure the worker’s safety and would bring about a new era in the construction industry.
Over to you!
Creating a plan in itself would not magically bring good results. However, it would provide businesses the opportunity to optimize their operations and stand apart in the competitive marketplace. A thoughtful and well-constructed marketing strategy would assist construction companies in working to allocated resources most effectively and earn more business.
Try to put the tips mentioned above into action for a robust strategy which would set you to stay ahead of your competitors.
Are you up to speed with these construction trends? Let us know in the comments section below.