Expanding into a New Market for Potential Customers? This Can Help…

As exciting as growing your business can be, it’s natural to have some uncertainty about whether you’re headed in the right direction. Instead of relying on hunches to guide you, let construction market data direct you straight toward a profitable pool of new customers.

Focus Your Expansion

Even if you have a good feel for the new market you’re entering, there might still be complexities and nuances you haven’t discovered yet. That’s where construction data can help. Reviewing hard data on how the market behaves can give you insight into what those customers really want and what kinds of companies they prefer to do business with.

If you’re an insulation contractor wanting to expand into commercial insulation, building permit data might point you toward hotel property managers as the customers to target. That saves you from the guesswork of marketing to every potential commercial customer out there until you hit on the most profitable buyers. Data can also reveal other specialties customers in your new market might need, such as soundproofing for quieter hotel rooms.

Develop Your Marketing

By examining data on the top companies serving your new market, you can get an idea of what messages customers in that market respond to best. If you specialize in waste management for small businesses, but want to expand into serving large office buildings, you can learn a lot from construction-related companies already popular with office building property managers. Knowing where those companies place their ads can help you determine where your advertising money is best spent. By browsing the topics successful companies discuss on their websites, you can identify issues you might want to address in your own content marketing.

The data can also reveal benefits you can offer that will help you outshine your competitors. If your successful competitors all stress the low cost of their waste management service, you might set your company apart by highlighting your top-notch customer service.

To find out how construction market data can help make your expansion a success, contact Construction Monitor today.

Take the Guesswork Out of Your Marketing Strategy

When you’ve been working with your market for a while, you develop an instinct for what your customers want. While that instinct might often help, it can also lead you in the wrong direction and distract you from good marketing opportunities. Construction market data keeps you on track by giving you a clearer picture of your market.

Understand Your Target Market In Depth

To create an effective marketing strategy, you first need to know exactly who you’re targeting. Building permits are one of the best sources of data on which markets are thriving, valuable information you can use to guide your marketing.

If you’re a framing contractor, you might find building permit data shows an increase in single-family homes being built in a middle-class neighborhood where most families have young children. To reach those clients, you might target young families in your brand awareness and advertising campaigns and focus on the durable materials and cost-effective methods you use. On the other hand, if you notice more cabins being built in local forested areas, you might target older, nature-oriented residents.

Get an Accurate View of Your Competitors

You can learn a lot by analyzing how your competitors do things, but it’s hard to know whose example to follow unless you know which companies are truly successful. Data on the top construction companies in your area can help you learn from the best instead of guessing based on a company’s public image.

If you’re a roofing contractor and discover all the successful roofing contractors stress the energy-efficiency of their roofs, you’ll know your marketing strategy should address that issue. You might want to focus on in-bound marketing with articles and videos that educate your prospects on how your roofs save energy.

On the other hand, the data might show you a certain roofing contractor whose billboard ads are everywhere isn’t particularly successful. That can save you the money you might have spent if you’d assumed those billboards were bringing in business.

For more ideas on using market data to develop your marketing strategy, contact Construction Monitor.

Understand Your Market BEFORE Spending on Facebook Ads

Facebook lets you target your ads to nearly any conceivable audience, but using ad targeting effectively requires in-depth insight into your target market. Combining Facebook’s targeting options with the knowledge you get from construction market data lets you maximize your ad budget.

Demographics

For any business in the construction industry, location is one of the most valuable Facebook targeting options. A careful review of building permit applications in your area will show you what construction projects are going on where. With a mapping tool, you can see projects around your area at a glance. If you spot an upward trend in kitchen remodeling in a certain ZIP code, you might target that area with ads for your construction services or for countertops, floor coverings or other remodeling-related protects you sell.

Interests

Knowing what projects are popular in your area gives you valuable information about the local market’s interests, even if you don’t work directly on those types of projects. If you sell tile and stone products and notice an increase in pool and spa installation permits, you might focus on advertising your pool patio stone. If you learn kitchen and bathroom remodels are booming, you might decide to invest more in ads for your countertop and flooring material instead.

To attract more clients for garage construction, you can target those who list their interests as Automobiles or any other vehicle your clients are likely to have. Specialize in home remodels using eco-friendly building materials? Try targeting owners of electric vehicles or hybrids who have a demonstrated interest in sustainability.

Home Ownership

Using building permit data to find out where the remodeling is going on lets you take better advantage of Facebook’s Year Home Built and Home Value targeting options. A cluster of remodeling and renovation jobs in a certain neighborhood shows you where the homes are older and their owners have money for upgrades. You can then target your ads toward owners of older homes in that location.

To learn more about using construction market data to optimize Facebook ads, contact Construction Monitor.

Word of Mouth is Not Enough for Steady Construction Leads – Think Outside the Box

Word of mouth marketing might be popular among construction companies, but it’s also unreliable and limits your growth. With a little creativity backed up by good data, you can pull in more of the leads you really want more consistently.

Show Off Your Skills with Video

Video lets you show off your projects like no other medium can. It also gives your prospects a chance to see and hear you, which helps build trust. To pull in leads from your videos, though, you need to know what topics your target audience cares about most. Reviewing data from building permits in your area can spark lead-pulling topic ideas.

If you spot an increase in building permit applications for restaurants or other businesses where appearances matter, you’ll know it’s worth addressing the concerns of these potential clients. Trying grabbing their attention with a video series showing the esthetics-enhancing features you’ve built into your past projects.

Tempt Prospects with Useful Tools

Planning a construction project, choosing products for remodeling, and securing financing are complex topics that require numerous calculations. Your potential clients are out there looking for anything that can make their project planning easier. By providing helpful tools, you’ll be attracting leads to your website while also demonstrating your expertise. If you specialize in kitchen remodeling, your tool could be as simple as a cost-calculator or a quiz to help your prospects prioritize the features of their new kitchen.

Gate Your High-Value Content

Useful content is one of the best ways to attract visitors to your site, but sometimes it takes a little nudge to turn those visitors into leads. Instead of making everything you publish freely available, choose some of your more popular content to offer in exchange for contact information.

This tends to work best with content that provides a concrete benefit. If you have proven tips on how to save thousands on a new home addition, your best prospects will be happy to give up their email address to hear them.

For more tips on taking your marketing beyond word of mouth, contact Construction Monitor today.