Challenges to Overcome
The construction industry in Ireland is continuing to recover well after the effects of COVID-19, and projections are strong for the months and years ahead. The industry is expected to benefit from a drive for increased housing and from strong growth in key sectors such as hospitality and industrial data centres.
But despite this, the industry faces mounting challenges that companies must acknowledge and overcome in order to be successful. For one, the dramatic increase in the cost of energy and materials has affected almost every sector operating within the industry.
And the uncertainty over further increases makes future planning a perilous exercise. Set prices too high and risk losing work, but set too low and you may be in danger of rising costs wiping out margins, or worse, even being forced to deliver loss-making work.
A Strategy for Growth
All of this means companies must be very clever in how they generate new business. It is imperative that business development goals are strategically considered in the context of the marketplace. Companies cannot waste time and effort chasing low-value accounts. A better approach is to identify high-value accounts with the right kind of profile, and focus your business development activities specifically on those accounts.
This type of activity is called Account Based Marketing, or ABM. It’s one part of what we do here at IMS for our clients across many industries in Irish and international markets. The results can be astounding, with ROI often 5x, 10x, 20x and more. To learn more about it, have a look at this case study of a building subcontractor who experienced incredible results with IMS with an ABM-style approach.
Don’t Get Stonewalled
At IMS we have been working with companies in the construction industry for over 15 years. No marketing agency in Ireland has the experience that we do in taking a technical or industrial product or service, and helping the company to market that product or service to a defined target audience.
We know the challenges faced by construction and building services companies and we implement solutions to help them to overcome them. The constantly shifting regulations, the damaging shortage of labour and skilled workers, as well as increased materials and shipping costs mentioned above all combine to make today’s construction industry landscape a very tricky one to navigate.
Companies simply have no option but to have the right marketing processes in place if they want to survive and thrive. IMS Marketing can help you.