Construction projects have a variable lifecycle from two weeks to two years. When one project completes, another one is just beginning. Growing construction companies enjoy a steady stream of projects to keep the momentum going and revenue flowing. In order to develop a healthy pipeline of projects your team must always be on the lookout for construction project leads. In a competitive market for electrical contracts, construction project lead sourcing efforts should be divided between inbound and outbound tactics.
Outbound tactics for scouring construction project leads
A solid source for finding electrical project leads are general contractors. More often than not, it is the general contractors receive the awards for projects. General contractors have their go-to subcontractors, but if that sub is busy, they reach deep into their arsenal of contacts for suitable replacements. Become part of their arsenal of subcontractors and a great source of project leads will open. The next thing you know you can bump your way up to become their go-to electrical contractor rather than their backup.
Fellow Electrical Contractors
It’s easy to view other electrical contractors as your competition. However, your competition can become a lead source. Sometimes the scope of a project increases or the owner/general contractor has accelerated the project schedule. In that case, you are fellow electrical contractor will need to subcontract a portion of the work in order to meet deadlines. It makes more sense to subcontract the work to a fellow electrical contractor rather than hire more crewmembers – especially in a tight labor market. Similar to your General Contractors, the next thing you know you can become their go-to subcontractor when your fellow electrical contractor is in a bind.
The internet has paved way to online bid boards. Some platforms provide free access and some platforms have monthly subscription. You log in to the website, search for projects, and even receive email notifications on new projects listed. For those that have monthly or annual subscription costs, it may sound like an expensive way to generate construction project leads. However, if one lead turns into an eventual project, then that investment pays off in dividends. This article talks in depth about several of the leading construction bidding platforms that you can explore.
Inbound marketing tactics to make construction project leads come to you
Having a good website is the best tool you can have in your marketing toolbox. You can display a portfolio of projects that you recently worked on to demonstrate your craftsmanship. Additionally, a blog on your website will allow you to demonstrate your expertise in your trade. When someone searches for an electrical contractor in your area, your website will come up in his or her internet search. There is a lot more things you can do to increase your search rankings that can be read about in this blog post. The important thing is to have a website that reflects your expertise and craftsmanship so you are at the top of the list of folks looking for an electrical contractor.
Reviews and Referrals
Majority of businesses rely on word of mouth reviews and referrals to grow their business. Treat your best customer as the source for your next 10 customers. Ask them to keep you in mind for future projects or refer you to other in their network. When those 10 customers then review and refer you to their 10 friends, then watch your construction project leads will grow exponentially. It is important to always do your best work. Just as quickly, as positive reviews can help your business grow, the reverse is also true. Negative reviews can quickly shrink your project leads and damage your reputation.
Think about the last time you went to a restaurant. Did you conduct an internet search and read their reviews. Have negative restaurant reviews swayed you to select a different restaurant? The same goes for electrical contractors.
Just as there are pay-for-play outbound tactics, there are pay to play inbound tactics. Advertising your electrical services in targeted websites or publications like neighborhood newsletters or even youth sports sponsorships can drive construction project leads to your businesses. The rates and costs will vary. Similar to online bidding platforms, when on one lead from advertising turns into an eventual project, then that investment pays off in dividends.
Electrical contracting is a competitive market. It may seem tough to compete and have your company standout. With a focused effort on delivering high quality work within cost and time estimates, your work should be able to stand on its own as your business’s calling card.