The second quarter of 2020 will be difficult for most contracting businesses, but it’s temporary: Tough times won’t last. Tough companies will.
You can cultivate ways to grow your business while business is essentially on hold. Using building permit reports for construction data can generate a new-and-improved marketing strategy during difficult times.
3 Ways to Build Your Contracting Company: Preparing for Economic Upswing
Coach Bobby Knight seldom had a losing season. He would say it was simply “a building year.” That’s what 2020 is going to be for many of us. Use building permit reports to strengthen your business:
1. Direct Mail
An article from another construction industry challenging economic era said most contractors send mailings that are large and “unfocused.” Target one type of project – apartment renovations, for example. “You might only get 10 responses, but you have a better chance of keeping up with calls…and you can do a quality bid that way.”
2. Educate Yourself
If underbidding has been your strategy, it wouldn’t have worked much longer. Now’s the time to get beyond the low bid and bid more strategically. This is a good time to put construction data analytics to work. Review your demographics. Take a harder look at your competitors. Suggestion: The last economic crisis that had a devastating effect on our industry was 2007-2008. It’s time to review construction industry trends from that era. Use building permit reports from that timeframe through 2010 to be a bigger part of our economic recovery.
3. Revisit Previous Jobs
“It’s not my job,” you might say when looking at older building permit reports. Maybe it wasn’t your contract, but you can connect with developers and builders to see how things went. Ask how things are going now. What’s in the pipeline for summer? And as a gesture of goodwill, connect with previous clients. Reaching out to “old” clients can often generate leads.
Timely Info for Difficult Times
Dave is growing his contracting business
using building permit reports.
Be like Dave.