Data insights for the construction industry

19th June 2020

When you implement a CRM system to your business, it’s critical to make sure it works for you and not the other way around. Modern CRMs can capture and store huge amounts of useful customer data. For construction companies, these data insights can be hugely beneficial to both customer relationships and identifying your position in your market. Compliment your word of mouth referrals with comprehensive data that will help you to seek out appropriate opportunities. 

Enquiry sources

Traditionally, construction companies have relied on word of mouth referrals and a positive reputation to bring in new business. While this method certainly isn’t dead, companies can now strengthen their chances of being visible to your prospective clients. 

Logging the source of your customers and enquiries can generate valuable data. It’ll allow you to clearly see any trends or gaps in your client base. On a secondary level, logging these communications will mean you can benefit from the automation a CRM offers. As enquiries and new customers build up, it can be difficult to stay on top of who’s had what follow up materials and when. Let your CRM do the hard work for you. 

Customer profiles 

Have you ever found yourself saying, ‘if only we had more clients like them’. With your CRM, you can make finding those people all the easier. In construction, it’s fairly likely your best customer will be the decision maker on any given site so why not build as much of an idea of what that person looks like as you can? 

Using the custom fields available in your CRM, build up a thorough profile of your customers. You can then pull these details to create a wider picture of your client base. This will help you create a much more targeted approach to winning new business. Whether you still operate on call lists or through email campaigns, widen your reach and improve your conversion rate using the data you’ve accumulated. 

Financial insights 

For any business, it’s crucial to stay on top of finances and payments. Setting up a convenient payment system and integrating it into your CRM will not only help you get paid faster but allow you to stay on top of your invoices and overdue payments if/when they arise. 

The automatic nature means there’s much less margin for human error when it comes to invoicing and processing payments. Particularly for the construction industry where employees are often out in the field, knowing all the data is stored securely in one place can be very useful. You’ll be able to clearly see the overall picture of your finances at the touch of a button. 

Providing insightful data is just one of the many benefits that comes with introducing a CRM to your business. Ultimately, the businesses that implement positive changes as a direct result of their data will be the ones to grow, both in their client base and in their efficiency. ixRM is dedicated to helping businesses gain a thorough understanding of their CRM and what it can do for them. If you’d like to know more about streamlining your business, contact us today.   Or you can register for our free webinar to find out more here.

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