When it comes to deciding whether or not to implement new technology, the conversation is typically focused on how it will directly help your company. These benefits often include things like cost savings, efficiency, and better control over data. While these should remain the most important reasons for selecting one new technology over another, your company’s decision to stay innovative and adopt new technology can have even greater benefits.
If you’re working in an industry such as construction and manufacturing, where you’re constantly bidding on new projects, you have a huge opportunity to leverage your status as an early adopter of innovative technologies. Plus, these technologies help bring leads through your sales pipeline, thus bringing in new business. Here are three major reasons to implement new technology in a construction-based industry:
1. It positions you as an industry leader. Similar to your company adopting new technology to stay competitive, potential clients want to partner with companies they see as able to help them maintain (or improve) their competitive edge. Those working in business development have a huge opportunity to learn about how their company is applying new technology in their day-to-day operations. They can then include that in their value proposition when putting together sales materials or submitting bids. At Bridgit, we’re constantly being told by leading general contractors using our punch list software that including information about the technologies they use helps win bids.
2. It sets the standard for innovation. If none of your competitors are talking about technology and innovation in their bids, chances are it’s a level playing field. If you’re able to secure the coveted position as the only one in the race bringing some added benefits to the table (outside of competing over dollars and cents), then your bid will stand out against the competition. All of a sudden, your competitors will start getting questions about what technology they’re using, and be forced to either rise to your level or be passed up on bids.
This position as a leader in innovation also helps when it comes time to follow-up with a lead. Including information on new trends, how your product is adapting to them and how this affects the buyer is a great way to continue to set yourself apart from the crowd.
3. It presents cost-savings up front. All too often, bids are won and lost based solely on price. In industries focused on physical deliverables like construction, this typically means using lower quality materials or workmanship. However, this is not a scalable way to win business, and will eventually (if it has not already) result in a poor experience for the project owner, contractor, and end user. New technology, such as collaboration software, provides a way to uncover cost savings with no impact on overall quality. In fact, deploying these solutions will often increase the quality of the end product. By presenting cost-savings that come from line items related to efficiency rather than physical materials up front, you’ll be able to compete on cost without sacrificing quality. It’s a win-win for the project owner.
For sales teams, understanding which software your company is using and how the benefits will translate to prospective customers is a great way to differentiate yourself from your competition. This approach will not only help you close deals, but provide topics to fuel your follow-up efforts and help move leads through your pipeline more easily. It’s time to let your internal software work harder for your sales team.
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