Six key factors for adding value to your construction leads!
Context: why construction leads vary in value
New sales leads have varying utility for a company. At best, the lead is valuable and results in new sales, because the salesperson can contact the right person at the right time with the right product. More often than not, the quality of the lead is not good enough and the salesperson does not know whom to contact or makes the connection weeks, even months too late. In the second case, the new sales lead have even wasted the sales person’s time – the exact opposite of its intended purpose.
General factors influencing the construction lead value
The value of sales leads depends on multiple factors. Firstly, external factors like the target company’s industry and how its market is arranged will play a big role. For instance, the manufacturer of multi-million dollar radiography systems will generate more revenue from a converted lead than the producer of light bulbs. Secondly, the quality of the lead itself is crucial. A sales manager’s task to convert leads into sales is much easier with detailed, accurate information (e.g. construction phase, construction start, building type) about the project than if he needs to personally research the information using search engines like Google.
6 key factors will determine the value of your construction leads
Our specialty lies in generating construction sales leads. Using the example of a new office building, we will explain 6 key factors our product offers which make sales leads valuable for our customers.
a project’s location contains many clues on the type of building and the materials that will be used. Factors like climate, the probability of earthquakes, local laws, and cultural practices play a larger role in building design than many people imagine. In addition to the actual location of the building, the location of the key stakeholders is also very important. Big construction projects are often developed by an international team of different companies in different locations all over the world.
Type of building:
knowing a project’s building type also leads to useful conclusions. The materials and interior outfit of an office building differ considerably from a residential building or a hospital.
one of the most crucial items of a sales lead is the target person. Calling the wrong person can cost an incredible amount of time. At Building Radar, we do our best to provide you with information about all the companies involved in the construction process and key contact details.
nobody likes to be late for a date and this applies even more for a salesperson. Contacting the target person after their decision has already been made is a waste of time and appears unprofessional. Being too early often results in time-consuming follow-up calls and annoyed customers. The perfect balance is knowing about new construction projects as soon as possible but also having access to information about a project’s progress and current status. At Building Radar, we provide recent satellite imagery of construction projects so that our customers can conveniently check a project’s current status from their desk.
In order to evaluate sales opportunities, a salesperson must know how much of their product they will be able to sell. Take for example an elevator company. Detailed information about the building allows the customer to answer questions such as:
- Building height and a number of stories à does the building need an elevator? How high must it be?
- Building size, ground area à how many elevators does such a building need?
- Building type à what type of elevator is needed (eg. passenger elevator, freight elevator, high capacity elevator)?
in order to show the prospective customer how relevant and useful your product is for their particular project, it is very helpful to target customers directly with the right product in mind. All of the above factors in combination with additional factors like environmental standards (eg. LEED certificate) and future tenants (eg. a luxury store) help a salesperson to propose the most relevant product for that customer from the outset.
Summary: companies need detailed information on construction leads
The 6 key factors or types of information crucial to every construction sales lead show how crucial detailed information is for construction sales leads. Often, minor inaccuracies like a few months’ delays in detecting a building project or the wrong building type can ruin an opportunity for a salesperson.
A building database has great value for customers only if it meets the highest standards of data quality and accuracy. Building Radar does just this, enabling you to browse hundreds of thousands of building projects around the world, customizing your search with reference to these 6 key factors. Ensure you only target the right projects at the right time with the right product, and don’t waste your precious time on bad sales leads.