In an extremely competitive industry characterised by ever tightening budgets and decreasing profit margins, construction companies need to start getting creative with their marketing, not just to survive, but to grow their businesses and build better brands.
Marketing has proven to be an effective investment in business success, says Databuild CEO Morag Evans. “A sound marketing strategy puts your company on the map and ensures that it remains at the forefront of the construction marketplace.”
This being said, marketing doesn’t come easy to construction companies.
“Many struggle to promote their products and services to the right target audience simply because they don’t have the resources in-house.
“The marketing function is typically left to someone tasked with administrative duties who doesn’t have the expertise to develop and implement a successful marketing strategy. The end result is usually very little to show for a considerable amount of money spent.”
The good news is that these companies don’t have to go it alone, says Evans. She advocates marketing partnerships as a powerful way to expose a business to new markets and cites a 2022 study conducted by Hinge, which ranks partnership marketing as the eighth most impactful marketing technique for professional services firms.
“Traditional marketing methods such as advertising are not only costly, but research shows that audiences’ trust in advertising is waning,” she adds. “The beauty of marketing partnerships, however, is that they enable customers to be introduced to new products and services in ways that don’t feel like advertising. This makes the business more trustworthy to their target market.
“Additionally, entering into a mutually beneficial collaboration with another business that shares your target audience but is not a competitor can be a far more affordable way to help your company access new marketplaces, increase your project lead conversion rate and ultimately, improve your bottom line.”
Databuild is already acknowledged as a pivotal player in the construction and allied industries. Businesses market their products and services to the right industry players through the company’s online database of active projects and tender opportunities.
Databuild is also helping organisations achieve their business objectives through marketing partnerships. Assisting companies with their marketing strategies can be done by working alongside the marketing team, or by effectively becoming the marketing department. Either way, combining the strengths of two organisations who share common ground enhances their value proposition and can kickstart a slew of new business opportunities.
“The benefit of partnering with a company with a specific expertise is that you know they not only have a product or service that has already proven to be successful in the industry, but also the marketing support that goes with it,” says Evans.
“This means they can assist you with the right marketing activities that will generate leads that turn into business for the company – exactly what you need to gain an edge over your competitors.”