Stats About B2B Appointment Setting for Construction Companies
As a construction company, you may have your doubts about B2B appointment setting. Sure, it’d be great if you had the resources in-house to do it, but is the time and investment really going to be worth it? Can I really build a healthy sales pipeline as a construction business?
The answer is yes, you can. Fortunately, our lead generation experts know a thing or two about B2B appointment setting for construction companies; and we’re pleased to tell you this: it works. Why should you believe us? Well, we have years of experience working with construction companies. We know how to grow their sales pipelines and generate consistent, quality opportunities.
Construction Lead Generation—The Data
So, how long will it be before you schedule your first appointment with a qualified lead? What size deals can you expect to close? Basically—what can you expect out of a construction lead generation program? We have the real and raw data to share with you, and if you ever consider running a lead generation program, we hope this helps you in your decision-making process.
Average Deal Size
Average Deal Size: $252,000
Typical qualifiers for a company that a construction company would pursue:
There you have it, when looking at hundreds of opportunities for various construction companies, the average size deal is $252K. Not a terrible size opportunity for a construction company to get (not to mention, one that would’ve been impossible to get if it were not for B2B appointment setting activity).
The deals come from opportunities that look like this:
Key decision-maker: Appointments are set with decision-makers or key influencers (defined as President, Owner, C-level, Director of Real Estate, Director of Facilities, Facility Manager, Building Engineer, or equivalent)
Type of company: a commercial, industrial or multi-family facility
Square footage of the facility: 5,000+ sq. ft. (or retail facilities with 2,000 sq. ft.)
Prospect has expressed interest in a conversation regarding tenant improvements, design/build, new construction, fit-outs (or build-outs), expansions, and/or remodels.
Most Common Key Decision-Maker (KDM)
Most Common KDM Level: Facility Manager/Plant Manager
Most B2B businesses (construction companies included) want to speak to the guy in charge when scheduling a meeting to discuss their products or services. They want to speak with an executive-level employee, a Director or C-level employee. It’s fine if you choose to do this; but in reality, these aren’t the people who make decisions about construction jobs. Not only that, but C-level employees are extremely difficult to get in contact with. They’re busy, and answering a cold call from a construction business is probably the last thing on their mind. They’re more worried about running their business.
Fortunately for all of you construction companies, the most common key decision-maker willing to schedule an appointment is typically someone who is a lot less busy than the CEO. It’s typically a Facility Manager or Plant Manager who is willing to have a conversation about construction services. Not only are they willing to meet, but these are typically the people involved in making construction decisions for organizations.
Number of Days Between First Dial and First Appointment
Typical time between 1st dial and 1st appointment (days): 21
Less than a month is the time it typically takes to set the first appointment for a construction company in a B2B appointment setting program. Why? To tell you the truth, we don’t even know the answer, but we can make a pretty educated guess. What does this number tell us? Why does it only take 21 days on average for you to have your first meeting with an interested prospect?
We do know this: If a company is planning to do construction, they’re doing it. A company doesn’t decide they need a construction project because you talked them into it. They were already planning one, and you just happened to catch them at the right time. For construction companies, it’s all about selling the prospect on using your services rather than using the competition. They want a bid or proposal from you outlining why they should work with you for this huge project. Whereas, a roofing company (for example), might not know how badly they need a roof until a company comes out and does an inspection. Either that or the buying decision is reactive and you just get lucky enough to catch someone who needs a roof repair.
In construction, prospects have already discovered their problem and they’re working on solutions. By the time they talk to you, they’re already going to be dead set on completing this project. At that point, it’s a matter of selling them on the idea of working with you, no one else. It’s very likely that it typically takes less than a month for construction companies to schedule their first appointment because they find companies that are accepting proposals from several construction companies.
Since your prospects will usually talk to several construction companies before making a decision to move forward with one, it’s very important that:
You have a killer B2B sales pitch. As a construction company, you need to know why a prospect would want to work with you over the competition. Additionally, you must be an excellent negotiator and someone who knows how to talk numbers. Companies have budgets for projects, and you need to know what you would charge for the type of work any company may want done.
You become an expert at pipeline management. Why do you think these companies are able to consistently generate opportunities and send out proposals for new projects? Simple—pipeline management. By calling a huge list of companies who seem like a fit, you can qualify and nurture leads, build a relationship, and eventually catch someone at the right time (right timing, target, and message is key in B2B appointment setting). This is why pipeline management exists.
Essentially, with a B2B appointment setting program in place, construction companies can consistently set appointments with prospects who are committed to a project and already moving forward with a solution.
Number of Dials Between First Dial and First Appointment
# of dials between 1st dial and 1st appointment: 9.2
While construction companies can usually get their first appointment set using B2B appointment setting within a 21-day timeframe, it usually takes about 9.2 calls on average. In those 21 days, it’s unlikely that you’ll get the chance to speak with an interested prospect on your first try; this is why a lead nurture process exists.
When you consistently follow up and nurture the leads in your pipeline, you’ll generate more opportunities. The reward for the many follow-ups is well worth it. This 9.2 dial average is consistent with other industries in the design/build space. For example, in B2B appointment setting programs for commercial roofing companies, the average number of dials is 9.2. So, if your company works in this space, be prepared to make those dials.
Do you want to build a healthy sales pipeline and generate consistent, quality opportunities but don’t have the time to handle it in-house? Abstrakt Marketing Group specializes in B2B appointment setting for construction companies, and we’d love to help you grow your business with exclusive appointment setting services. Contact us today to secure your market!