BY RICH SARKIS
As real estate markets ebb and flow, it’s important to have a strong pipeline of projects to withstand the ups and downs. Finding leads that turn into those projects, however, isn’t always easy–especially as a commercial contractor.
Whether you’re in search of new-building projects or ultra-specific renovation jobs, data can help you maximize the process of generating commercial contracting leads. Read on to learn how data can help you source and analyze business leads, close more deals, and market your services for future opportunities.
Sourcing for Prospects
Establishing new relationships is critical for any commercial contractor that wants to be successful. This is particularly true for those who are relatively new to the industry and trying to establish a fresh business.
To get started with data-powered lead generation, you will need to identify a reliable data source that can readily help you find the property, building, and ownership information you need. Tools like Reonomy allow you to search for properties that meet your desired job criteria. For instance, if you’re a commercial HVAC professional that specializes in warehouses larger than 500,000 square feet, Reonomy’s filters allow you to search specifically for properties that match these characteristics. This eliminates the need to waste money on poorly targeted lead lists or rely on word-of-mouth for new business, and in turn, allows you to create a list of customized leads in a matter of minutes.
Analyzing Leads
After you’ve conducted a search for the properties you’re interested in, you can begin a deep-dive into individual property details to uncover the nuances that can strengthen your chances of gaining a prospect’s trust during the outreach process.
Data can act as a “fine-tooth comb” for property analysis to help you sift through layers to find each and every granular piece of information on a property and its owner—including total building area, number of units, depth, frontage, zoning information, and renovation details. While data can vary from platform to platform, robust software like Reonomy can help you unearth the gritty details you may have overlooked before.
For example, perhaps you’re a contractor who’s experienced in renovating historic buildings. Precise historical data, like the year built and year renovated, can help you decide whether or a not a project might be in need of your services.Transactional data, too, can be leveraged to pinpoint new owners who might be interested in restoring their new assets.
Oftentimes, contractors will spend time driving to physical properties to scout the location. Instead, Reonomy allows you to take back your time and see properties directly in the platform. Scroll freely within the integrated Google Map to view the properties you’re interested in using 360-degree and aerial photography. This way, you’ll know exactly what a property looks like, without ever leaving your computer.
Closing the Deal
Outreach is arguably the most important part of your sourcing strategy and can make or break the success of your business. Oftentimes, commercial contractors and other real estate professionals waste precious time scouring for ownership records and accurate contact information, or frequently get stonewalled by property managers and other non-owners while canvassing. The use of data can eliminate these painstaking, manual processes and serve up accurate owner information with the click of a button.
Reonomy allows users to see current owning individuals or an associated LLC of a property. From there, users can unlock their information for outreach, like email address and phone number. This information, along with the details you’ve collected while sourcing prospects, can help foster stronger conversations. Rather than blindly reaching out, data provides a “behind the scenes” look at an individual’s property or asset portfolio. Use data to bolster credibility which, in turn, will create trust with your prospect--an important facet of contracting relationship building.
Marketing Your Business
In addition to traditional outreach and cold calling, data can be used to fuel marketing efforts. With the list of owners you source from your platform, it’s easy to create targeted campaigns across various mediums.
Email marketing, for example, is an accessible, affordable way to market your services. Build out lists based on customized and segmented criteria, such as asset type, industry, and suggested services needed, such as HVAC, ventilation, or refrigeration. Then, send out email blasts promoting your business to the email addresses you’ve collected. You can even take the next step and personalize your messages with details you sourced earlier, reinforcing your credibility and knowledge of a prospect’s property.
Another way to showcase your company is through direct mail marketing. Similar to with email marketing, you can export lead lists and respective mailing addresses to empower your marketing strategy and send individually targeted mailers directly to property owners. Create engaging personalized pieces of content by using granular information that helped you find prospects in the first place. By using data points like property age and date of the last renovation, you can make tailored messages that resonate the most with your audience. Your prospects will appreciate the time you took to fully research their needs and feel more confident doing business with someone who knows their properties inside and out.
Generating commercial contracting leads is critically important to your business success. From initial sourcing throughout building and contacting a list of leads, data can be used at every step to make your lead generation strategy much more efficient. More importantly, it gives you the knowledge you need to make smarter decisions and create trust with clients--the cornerstone to successful long-term partnerships and repeatable business.
Learn more about Reonomy and try the platform for free, here.
Rich Sarkis is the Co-founder and CEO at Reonomy