Using real-time data is vital to any business across the UK construction industry.
Without it, costs, efficiency and growth could suffer massively. This is because you are launching huge campaigns to audiences of people who may not even be interested in your products and services.
That is why here at Insight Data, real-time prospect data is at the center of everything we do.
With our help, marketing teams can begin to target the right audience with relevant content and personalised messaging.
By having access to real-time data on potential customers, businesses can gain valuable insights into their behaviors, preferences, and operations. This information can then be used to create highly targeted campaigns that resonate with specific segments of the audience.
For example, if a particular business goes under, or a new one starts up, marketers can quickly adjust their campaigns to ensure they are not targeting defunct organisations.
Those companies that utilise data to launch construction marketing campaigns will find new orders begin to flow, as higher quality new leads are bought in.
In this blog we have complied 6 reasons real-time prospect data will help you boost business growth.
Organic business growth
You could have the best product on the UK market, set at the best price, and know exactly how you want to promote it, but if you’re not going to send that information to the right people then there’s no point!
Driving organic growth or generating new business leads is usually at the top of most businesses’ agenda. It’s important, when looking for new business prospects, that your business can pinpoint exact target customers using up-to-date and relevant information. Using highly accurate and targeted data will help identify your perfect customers and leave you more likely to generate high-quality leads – whether this is via email, post or telesales.
Diversify your business
Having all your eggs in one basket can be risky. Bringing new products to market or promoting existing products to wider audiences such as builders’ merchants, architects, or house builders, can spread the risk and create new revenue streams. To do this, however, you’ll need to know exactly where to promote your new products. Carrying out a market research campaign is often your best option to understand this.
Where your company sits in the market, what your target customers want, and how your competitors are doing, are all important elements to understand when conducting a successful market research campaign. Market research is the key to help business leaders make informed decisions, reducing both risk and costly mistakes. It can also help businesses understand their market, competitors, and customers better, improving their sales and marketing proposition while helping to better deploy resources.
Understanding the market and current forecasts will help push you towards construction projects across the UK.
Reduce your costs
Companies can waste tens of thousands of pounds on sales and marketing costs. When it comes to growing a business, marketing is one of the most critical areas to invest in – yet many companies often struggle to find the time and resources, or expertise necessary, to develop and execute a successful marketing strategy.
Outsourcing one or more of your marketing functions can result in many benefits—from reduced overhead expenses and the ability to quickly scale your marketing efforts, to gaining access to the latest tools and industry expertise. Most successful companies and experienced business leads view marketing as an investment in their growth.
Some construction companies talk about consolidation, but this shouldn’t mean standing still. Taking 6 months or a year to consolidate should mean putting in place the processes to fuel future growth.
A key priority could be restructuring your customer base and replacing high-maintenance, low-margin, or credit-risk customers with quality clients that are easier to manage and pay their bills, therefore improving your margins.
Many construction companies have been slow to invest in new strategies, but there are a number of ways that you can use technology to improve marketing performance without breaking the bank. Real-time data is the perfect example of this. The key is often about knowing which tools will work best for you and then using them effectively.
Get the right tools
Having the right tools to manage your business, teams, and customers is the secret to a scalable business. CRM systems can deliver a wealth of benefits to your business. They have the power to increase productivity, boost sales, and keep customer retention levels high. A centralised system increases your business growth whilst giving detailed analytics.
When you choose the right CRM system for your industry, business type, and sales team, you can quickly and easily start to get an understanding of your return on investment.
Customer relationship management, CRM systems, have a vast list of benefits and high conversion rates, and sales prospecting is one of them. You can increase revenue by 41% per sales rep and drive lead conversion by an enormous 300%.
You can even bolt-on email marketing platforms to your CRM to send targeted marketing campaigns to your desired target audience. Having everything on one platform makes it so much easier for your teams to work smarter, not harder.
Using business intelligence helps business leaders make more strategic, informed decisions about products, markets and competitors. It’s the practice of making data-driven decision-making a tangible actuality.
Here at Insight, we have industry experts on hand ready to help you make better decisions. The diverse team is made up from a range of email experts, to telesales specialists and development team to assist any queries you may have.