Finding profitable work
‘Construction facing worst decline for more than 30 years’ were the headlines following the Construction Products Association's (CPA) latest forecast. The CPA don't expect construction growth until 2014 highlighting the need for companies to adopt a focused approach, rather than rushing after every opportunity they see.
That need for focus applies as much to specification sales activity as it does to contractors bidding for work. Of course the headline figures refer to total growth. Within that there are some heavy falls, but also some expected increases.
Firstly, a sector-specific approach is required. Review the sectors where there is growth now or growth anticipated and consider what strengths your company has to offer within them. You may already have an established presence, which is good. Or you may need to look at your existing product or service offering and modify it slightly.
Having chosen your target sectors, identify the companies (clients, architects, main contractors and specialist contractors) operating in this sector who are doing well. Consider those you already have a relationship with and those you would like to work with. Then develop individual strategies to build relationships with the top 20 per cent of these companies. This is much easier than it used to be. The leading project database companies now provide detailed information about company activity, financial strength and staff contacts. This makes it easy to find the right targets, understand their activities and develop plans to introduce your company. There is also an array of tools that you can use to open doors. Perhaps the best is to offer a CPD seminar.
Having identified your prospects it is important to always be on the look-out for enquiries coming from them. These may be enquiries from RIBA Product Selector, or NBS, or requests for literature, CPD materials or product samples. If you have standard response mechanisms for these make sure that you can identify requests from your target companies and that these receive priority treatment. For example, send a salesman in, providing him with an opportunity to build or strengthen a relationship.
All of this is standard marketing practice, but in the rush to find business, especially if you are short-handed, how much of it is happening? In these difficult times it's more important than ever to think smart and not be busy fools.
Get more ideas for developing your business by attending the 2011 CIMCIG Conference ‘Finding and winning profitable work’, which takes place 1 December 2011 in London. See the CIMCIG website for more details.
Chris Ashworth is a member of the organising committee for CIMCIG, the Chartered Institute of Marketing’s Construction Industry Group, and founder of Competitive Advantage Consultancy, which specialises in market research and training for the construction industry.
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Chris is founder of Competitive Advantage Consultancy Limited which specialises in market research and training for the construction industry. He is also a member of the organising committee for CIMCIG, the Chartered Institute of Marketing’s Construction Industry Group
First Published: November 2011, Riba Insight
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