9 Reasons Why Construction Companies Need to Embrace Technology
It keeps you awake at night. Modernise or be left behind...
You’re always trying to find new ways to stay relevant in a competitive construction marketplace. You want to have an advantage over your rivals.
You can embrace technology in your construction business.
For instance, according to Accenture, Artificial Intelligence has the potential to increase the construction industry’s profits by 71 percent by 2035.
Yes, technological advances are unstoppable and they’re happening faster and faster. So how will these innovations help your construction company?
Let’s find out.
#1. Enables Cost Savings
On the face of it, investing in technology can seem expensive, but in most cases, it’s a highly cost-effective decision. You will improve efficiency, productivity and consequently save the business money.
Think about it this way:
It can be challenging to adopt technology when your company is doing well. Because, why fix something that’s not broken? However, investing in innovations in the short-term results in the long-term growth of your enterprise.
On the other hand, if you carry on without investing in technology, you will experience negative growth and the business may not survive over time. Simply, adopting technology is a short-term investment for long-term stability.
#2. Improves Brand Awareness
In today’s digital age, you need to grow your exposure and stay relevant. In other words, customers are using new technologies and utilizing the web for everything they can. To make an impact and build brand recognition, it’s time to meet purchasers where they are.
Here’s an example:
If you sell concrete products, you can use images to display your diverse range of commodities on your website and social media accounts. It enhances the shopping experience and makes it easy for prospects to find your company and make purchases.
Lastly, as a small business, you can experience significant challenges in gaining territory in the beginning. Digital solutions can be a cost-effective approach to building the awareness of your firm. These innovations have allowed enterprises to gain significantly better exposure than possible in the past.
#3. Enhances Employee Wellbeing
Here’s a shocker:
67 percent of employees are eager to work with technology such as Artificial Intelligence, but only 3 percent of bosses currently offer such training.
Breakthroughs such as collaboration software and centralized file storage improve accessibility, and this empowers your staff to perform better and faster. Also, workers are able to share real time information between different departments hence fostering teamwork and innovation.
With the right technology, you can conduct performance evaluations and determine your firm’s skills. As a result, you’re able to determine the expertise you will need to build on in the future. This ensures the correct deployment of personnel to roles that perfectly suit their strengths.
Finally, automation helps you get rid of repetitive tasks hence creating a more fulfilling job for your employees. Work that used to take hours can now take minutes to complete using intelligent software. In that case, your team feels valued and appreciated.
#4. Strengthens Communication
Technology enhances both internal and external communication. It helps if you’re trying to dispatch valuable data and also simplifies correspondence between different departments.
For example, technology has allowed companies to send bulk emails. As a result, they can use email marketing as a technique to increase the number of leads.
Additionally, digital communication tools encourage discussion and debate. Anyone has the opportunity to reach out to each other in ways that otherwise would not be possible. Knowledge is shared and support is provided.
#5. Improves Decision-making
Decision-making is an essential aspect of every business, whether small or established. That is to say that every choice you make can affect the success of your construction company in the long-term.
For most organizations, decision-making is a process that involves departments or a number of stakeholders. Using collaboration tools, these people can converge to discuss and decide on a new project such as a marketing campaign. Simply, technology speeds up processes and increases efficiency.
Equally important, with access to vast amounts of data, you can identify patterns and trends that can be beneficial to your construction business. In addition, technology allows accurate reporting. Whether it’s finance or customer engagement reports, you’re able to see your weak points, make the corrections and keep growing.
#6. Simplifies Access to Customer Information
Knowing your clients on a deeper level is essential. It’s the only way you will be able to meet their expectations.
With the help of technology, you can tell what prospects are looking for and their problems. For example, CRM software allows your business to intimately know what your customers want. And with access to such details, you can create content tailored to their needs.
Also, with data intelligence you can be able to predict what prospects want before they know they want it.
#7. Improves Customer Service
With a plethora of businesses to choose from, clients are enticed by remarkable customer experiences. They want easy access and expect immediate responses.
Technology enhances customer service and satisfaction. It provides different avenues to keep in touch with purchasers. You can use social media platforms such as Twitter, Facebook or LinkedIn.
Alternatively, with advanced options such as webinars or video channels on YouTube, recurring questions can be solved without having to contact the company every single time.
Ensuring that all of the above avenues are constantly monitored with adequate personnel is essential. The danger of understaffing is that issues can arise and swell very quickly. And this puts your brand at risk.
All in all, technology allows you to respond faster and create a better customer experience. Consequently, you will notice an ever-increasing loyal clientele.
#8. Boosts Sales
Whether a small business or a large company, you need to use technology to reach your full potential. No, you don’t have to over-complicate your construction company in the process.
With a compelling online presence, there’s improved brand awareness hence making it easier to make sales. For example, a website or social media accounts make it easy for potential buyers to locate your enterprise. And with better contact, there’s increased likelihood of making sales.
In addition, technology simplifies customer communications. It makes it easy for prospects to get the information they need so as to make informed decisions and do business with you.
Note: Technology is simply a tool to make sales easier. No, it’s not a replacement for the sales person.
#9. Enhances Business Analysis and Reporting
Technology allows you to gather and store business data. You are able to understand customer behaviour, the market trends and your firm’s performance.
It can be as simple as entering your company data into an online program. With such access, employees are empowered to work smarter and make the necessary changes. Again, this data encourages open communication of critical information and a productive discussion.
Finally, with such valuable information at your disposal, you can make better decisions such as the right marketing strategies. As a result, your construction business gains a competitive advantage over other firms.
The bottom line is this...
Don’t Let Your Construction Company Get Left Behind
As you have seen above, technology plays a significant role in the growth of your construction business. There will be easier, faster and more effective communication. There will be less wastage.
In other words, if you don’t embrace technology, you'll lose your competitive edge, make losses or worse, close shop.
To stay ahead of your competition, show courage and take advantage of the innovations. It’s that simple.
Now go out and do it.