From supply chain disruptions to scheduling and resourcing delays, the last year was full of obstacles for industrial sector businesses. As we close out the first quarter of the new year, the outlook is much more positive. With the global economy beginning to rebound, construction companies and others in the industrial sector are in an ideal position to acquire new prospects.
Opportunity knocks, but is your company prepared to answer? Make sure these five essential building blocks are part of your strategy to maximise growth.
Building Block #1: Improving Marketing and Sales
Now is the best time to increase your brand’s visibility. Some companies did not survive the turbulence of 2020. For those that did, securing customer leads is the first step in the “survive and thrive” process. This is where good marketing and sales strategies matter. If your organisation is not working with a marketing and communications professional, it needs to correct that oversight quickly.
Launching an aggressive marketing campaign can give you an edge in the marketplace. A strong website remains your number-one resource for being discovered. Around 85 per cent of consumers conduct online research before considering a business. If you lack a website, you reduce your chances of being selected.
Google My Business also provides visibility. Combined with Google Search and Display ads, it helps prospective clients find you when they search for terms like “construction company near me.”
These are not the only approaches available — working with a professional ensures the right methods are deployed.
Building Block #2: Competing for Government Contracts
Government contracts are a lucrative option, especially during economic recovery. To counter the impact of COVID-19, the Australian government launched large-scale infrastructure investment. In June 2020, 15 fast-tracked projects worth AUD72 billion were authorised, supporting more than 60,000 jobs. Including government contracting in your strategy can help you capitalise on this spending. The process is work-intensive, but the payoff can be significant.
Building Block #3: Picking Up Unfulfilled Contracts
Another growth opportunity comes from rescuing unfulfilled contracts. Sometimes contractors fail to deliver, leaving customers frustrated. If your company can step in and complete the work, you can turn a salvage job into a long-term relationship, repeat business, and referrals.
Building Block #4: Reconnect and Strengthen Your Network
Word of mouth and customer referrals are the number-one source of new business in the industrial sector. Reconnecting with current and past clients is one of the most effective networking approaches. A gentle reminder that you are still active can spark opportunities and alert you to upcoming projects.
Building Block #5: Plan Ahead
If the pandemic taught us anything, it is the need to be ready for crisis. A sustainable growth strategy requires planning for disruptions. Beyond pandemics, crises can include:
- A natural disaster such as a tornado, earthquake, or flood
- A major technology outage affecting core systems or equipment
Businesses that are proactive rather than reactive build trust and loyalty. Anticipating “what ifs” improves customer confidence and strengthens your own resilience. Not every situation can be predicted, but active monitoring reduces impact.
Opening the door when opportunity knocks
Do not miss the growth opportunities emerging in 2021 and beyond. Commit to a sustainable strategy that anticipates opportunity and is ready when it arrives.