A Story From the Front Lines of B2B Lead Generation: Construction #3
Construction companies face unique challenges when it comes to lead generation. Bidding on projects is competitive, the buying cycle is long, and serving existing clients usually takes priority over finding new ones. Generating construction leads is tough, so it’s no surprise that many construction companies are wary when starting a lead generation program.
If you’re looking to grow your construction company, this success story will provide you with a better picture of what B2B appointment setting could do for your business.
First Year of the B2B Appointment Setting Program—Keeping the Client Bought In
Year one of working with a lead generation company is always challenging. It’s hard to remain confident and trust in the process when you’re not seeing results right away. But building a sustainable sales pipeline does take time, and if you let the process play itself out, you’ll see amazing results. That’s exactly what happened for this construction company.
Here’s a closer look at the first year of this incredibly successful partnership.
This program began in November of 2019 and the construction company closed their first deal from an appointment we scheduled in October of 2020. While this may seem like a long time, the wait was well worth it. Also, the appointment actually happened in January, it just didn’t close until October. As anyone in the construction industry knows, the purchase cycle is long for these construction services. This deal closed for $7 million.
Fast forward just five days later, and this construction company closed another deal from our B2B appointment setting efforts. This deal was for $5 million. That’s $12 million worth of closed deals in just five days. If this doesn’t show the importance of follow up and building a pipeline, we don’t know what does. The first several months of an appointment setting program may seem slow, but a lot is happening during that time. Your outsourced sales team is building a strong sales pipeline that will consistently generate high-quality appointments.
Not only did this construction company secure $12 million in revenue from two appointments within five days, they also had open proposals out at that time. The more prospects that are in your pipeline, the more opportunities for closed business you have. This is why lead generation programs, B2B appointment setting in particular, are so important if you want to stay ahead of your competition. Because of B2B appointment setting, this construction company currently has $65 million in open proposals, many of which will probably convert into closed deals later on.
What could more deals and more open proposals mean for your construction company?
What Made This Program Different—And What Other Companies Can Learn
Any company, no matter their line of work, must understand how B2B appointment setting works before they enter into a program. If you don’t understand the importance of consistent follow up and expect immediate results, you won’t be happy. But if you trust in the process and give it time to work, you’ll start to see results that are better than what you ever imagined.
Hear From the Account Manager
The Sales Development Representative who manages this construction account at Abstrakt gave two simple reasons as to why this program has been so successful. One, the client is open to hearing our perspective and suggestions. Two, he knows how things work in the construction industry. See what he had to say about working on the account:
“I think the program has been successful because the client is open to new ways of thinking from our perspective. He was very close-minded at the beginning, but now he has opened up and listens to our suggestions and best practices,” said the Account Manager. “He also knows that in his industry, even though small jobs can be profitable, the true leads he is getting are not going to be just a one stop meetings. He is going to need to nurture leads often, and it’s likely going to be over a year before the project even gets legs.”
In addition to the client’s confidence in the program and industry knowledge, communication is between the client and Abstrakt is stellar. This constant communication has allowed our sales rep to tell the client where we are as far as number of contacts, dials, etc. It also gives the client a chance to tell us how business is currently going.
Facing Unforeseen Challenges
This construction company signed on right before the pandemic hit (at the end of 2019), so that has been a challenge throughout the entire partnership. Even though we’ve been battling a new challenge day after day, we’ve made adjustments to ensure the partnership is still successful. Staying on top of daily activities and remaining focused on goals has helped us to slowly climb back into a full swing schedule. As the months go on, we see nothing stopping us from ramping up this program.
The Client’s Involvement in the Program
The client’s involvement in the program deserves its own section, because this is a huge part of what made the program so successful. The client is so involved, he actually bought a Salesforce license for his company through Abstrakt to receive full transparency into his program. He also has a full outbound marketing program that includes a marketing collateral package as well.
“I feel that is likely the main reason he is successful with the program is he can see exactly what value Abstrakt adds: the introduction of the two parties,” said the Abstrakt Account Manager.
Without us, this construction company would not be meeting face-to-face with as many interested prospects. We set up the initial meeting, but it’s up to the construction company to secure the deal. Without us, that initial conversation would never start.
What Other Construction Companies Can Learn From This Success Story
The key takeaway from this story for any business, not just construction companies, is this: building a pipeline takes time. If you buy into a program like this one, understand that 12 to 18 months is the standard time that it’s going to take to see a major return on investment (ROI). Once you wait it out, you’ll end up ahead of the game in the long run. Additionally, it’s important to be very involved in your program from day one. The more involved you are, the more successful you’ll be.
Here are the final remarks the Account Manager at Abstrakt had to add:
“I like working with this client because we have a great relationship. We call each other and celebrate victories in the partnership, whether that victory is a good first meeting or a hot appointment I set for them. We feed off of each other’s energy.”
Building a sustainable sales pipeline takes time. Not only that, but the success of an outsourced sales program also depends entirely on who you partner with. You want someone who is going to build your confidence in the program and keep your spirits up, even when times are tough. At Abstrakt, our dedicated B2B sales reps act as an extension of your business, and we care about your success just as much as you do.
Are you interested in learning more about how B2B appointment setting could get you more construction leads? Let’s talk → schedule an appointment today.