PlanHub's Q2 Report Reveals Strategies for Construction Success
Unlock Contractor Business Opportunities with Q2 Research Findings: Discover the Power of Word
of Mouth, Network Building, and Emerging Civil Construction Trends to Drive Success. In this transformative webinar, we delve into PlanHub’s Q2 Research Report, which aggregates platform activity data from over 340,000 companies on PlanHub and insights from surveys of 700 leading general contractors and subcontractors. Join us as we explore key strategies successful contractors employ, top lead sources driving abundant opportunities, untapped expansion possibilities for subcontractors, contrasting perspectives on market conditions, and the remarkable growth of civil construction projects.
Challenges
- Lead Generation
- Networking
- Reputation Building
- Technology Adaptation
Solutions
- Embracing Technology
- Networking and Relationship Building
- Exploring Civil Construction Projects
Results
- Key Lead Sources
- Untapped Expansion Opportunities
- Contrasting Perspectives on Market Conditions
- Optimistic Subcontractors
- Growth of Civil Construction Projects
Challenges
Evan Williams, VP of Operations & Partnerships, brings his extensive experience in the construction industry to provide strategic guidance and shed light on leveraging technology and building strong relationships for sustained success. Eduardo Mazal, Product Marketing Manager, presents the research findings, unveiling trends and offering practical solutions tailored for contractors and subcontractors.
The webinar addressed several challenges contractors and subcontractors face in the construction market, including Lead Generation. Identifying reliable lead sources has always been a concern for contractors. The webinar highlighted the top lead sources for general contractors and subcontractors, such as direct outreach through email or phone and utilizing lead services or bid board websites.
Networking and Reputation: Building a solid network and a positive reputation in the industry were emphasized as crucial factors for success. Word-of-mouth recommendations and establishing an online presence through websites were identified as effective methods to enhance credibility and attract new projects.
“Clearly, what we see is that word of mouth and network strength really remain key. It’s clearly proven time and time again that recommendations from colleagues and friends are generally taken more credible than other forms of advertising,” said Evan Williams.
Technology Adoption: The contrasting perspectives between general contractors and subcontractors regarding technology adoption were discussed. While general contractors showcased optimism and investments in technology, subcontractors expressed concerns about underutilizing technology, relying on outdated communication methods, and lacking real-time information on the field.
Solution
Based on market research, current trends, and best practices, Eduardo and Evan provided valuable solutions to overcome the challenges faced by contractors and subcontractors:
“Where it gets interesting in our study is where it shows that websites, lead services, and online platforms are now starting to follow right behind word of mouth. Word of mouth is your primary network, but now everyone is trying to use online platforms to really start expanding that network,” explained Evan Williams.
Embracing Technology: Contractors were encouraged to leverage technology to streamline operations and enhance efficiency. PlanHub’s innovative tools, such as blueprint scanning, allowing for quick information retrieval and automation for reducing labor and cost, were highlighted as effective solutions.
Networking and Relationship Building: Establishing and nurturing relationships within the industry was emphasized as a critical factor in winning projects. Contractors were advised not to hesitate when bidding on projects with general contractors they are not familiar with, as 61% of general contractors are open to working with subcontractors they don’t know.
“PlanHub greatly facilitates introductions and allows for immediate engagement. Ultimately, it is essential to perform our jobs effectively to establish trust and build relationships with others,” said Eduardo Mazal.
Exploring Civil Construction Projects: Subcontractors were encouraged to consider bidding on civil construction projects as they offer growth opportunities. The webinar highlighted the increase in bids for civil projects, particularly on roads and highways. It stressed the importance of showcasing expertise, safety measures, and environmental considerations when entering the civil construction market.
Results
After conducting polls through the webinar, answering the attendee’s questions, and going over all the challenges and solutions for the market, Eduardo and Evan provided some insightful results.
Bids on Civil Projects: The live poll revealed a significant increase in subcontractors bidding on civil projects in the last six months. Roads and highway projects, especially in Florida, experienced notable growth. Both specialized and more straightforward projects were identified as entry points into the civil construction portfolio.
Optimistic Subcontractors: A smaller group of subcontractors demonstrated optimism by actively engaging with different tools, simplifying schedule challenges, and leveraging technology to save time and reduce waste. PlanHub’s support in increasing performance and efficiency was acknowledged.
In conclusion, the Q2 PlanHub’s Research Report Webinar shed light on the construction industry’s challenges, providing practical solutions and insights. Contractors were encouraged to embrace technology and strengthen networking.
