There’s no denying the impact of the COVID-19 pandemic on various industries. The construction sector is among those greatly affected by the crisis. Consider the pandemic restrictions in the construction process, the disruption in the material supplies, and the low demand for residential and commercial construction.
It’s been almost two years since the COVID-19 crisis first broke out. It appears that while some construction companies have closed, some resilient businesses have managed to survive and thrive. However, these firms must take a few crucial steps to augment their business amidst the pandemic.
It’s just a matter of recognizing and implementing short-term and long-term construction trends. From there, construction companies must turn the crisis into an opportunity. That said, here’s how to boost your construction business during this pandemic.
1. Resort to digital transformation
Digital transformation has become a buzzword during this pandemic. And this applies all the more to the construction sector. As a construction firm, consider adopting digitalization in your business to remain operational. For instance, employ online communications tools to interact with various stakeholders involved in your construction. Consider the use of automation in making your construction processes more efficient, accurate, and seamless.
2. Rebalance your supply chain
There’s no denying the disruption in the global supply chain. And the construction industry has been severely affected. Think of the material supplies your construction firm needs and how the pandemic restrictions have become an impediment. As such, it’s time to rebalance your supply chain. Consider having alternative suppliers of your construction materials. The best course of action is to deal with local suppliers as well.
3. Augment business consolidation
When it comes to construction, it’s about collaborating with various stakeholders involved. As a construction firm, you don’t only have a team of contractors. You work with engineers, architects, interior designers, and even tradespeople such as electricians, plumbers, HVAC contractors, and professional roofers. That said, it’s best to augment the business consolidation in your construction firm. Be sure to have partnerships, build your network, and carve contracts with stakeholders involved in your construction.
4. Resort to vertical integration
For the uninitiated, vertical integration entails streamlining business operations by ensuring direct ownership in various processes. This concept is very effective in the construction industry, especially during this pandemic. As mentioned above, it’s best to boost your business consolidation by pursuing partnerships and having contracts with various stakeholders. That way, you can take control of the different stages in construction to ensure a successful construction project.
5. Increase off-site construction
Another way to boost a construction business is to resort to off-site construction. Let’s take, for instance, the manufacturing of prefabricated construction materials that don’t necessarily get set up on the actual construction site. Instead, key players build the modular structures in a controlled environment, and these structures get installed on the construction site. Ultimately, they make the entire process faster, more stable, and more effective.
6. Use digital tools and technologies
We can no longer ignore the power of digital tools and technologies. They have become beneficial in the world of construction. Think of artificial intelligence and automation for construction reporting and communications. Consider the use of 3-D printing or additive manufacturing in building designs and manufacturing. That is not to mention the emergence of robotics that help contractors in construction. Plus, contractors use drones to have a panoramic view of the construction site. Lastly, construction firms can have their workers wear smart wearables for protection, safety, and monitoring.
7. Implement digital marketing strategies
As a construction firm, there’s a need to market your business and promote your services such as site excavation, paving construction, landscaping services, residential construction, and building construction. The key here is to use digital marketing, given the pandemic restrictions. Some of the online marketing tactics you can employ are as follows:
- Search engine optimization (SEO) for the online visibility of your construction business
- Pay-per-click (PPC) campaign for advertising your construction services
- Email marketing for promoting your business and reaching out to clients
- Content marketing for SEO purposes and reaching out to prospective clients
- Social media marketing for client engagement and building client relationships
Boosting construction in the new normal
There’s no sign of stopping and even slowing down for the construction industry. But for a construction business to survive and thrive in the new normal, it must acknowledge and focus on the short-term and long-term construction trends.
As a construction firm, be sure to consider the valuable tips recommended above, from resorting to digital transformation down to employing digital marketing. Ultimately, you’ll be able to kick your construction business up a notch, even amidst the pandemic.