Construction Companies Look to Marketing to Bolster Growth

The beginning of a new year means it’s time to be executing those New Year’s resolutions. When most people think of New Year’s resolutions, they think of their personal resolutions such as getting fit and eating healthy. Have you ever considered expanding resolutions to include shaping up your business? The Certified Financial Management Association (CFMA) annual survey can be a good resource for developing resolutions that relate to the real estate and construction industries.

The CFMA recently published its 2011 Construction Industry Annual Financial Survey that includes the results of the hot topic survey, “Solutions from a Tough Economy – Best Practices for Moving Forward.” The results identify the measures that worked best over the past three years to reduce costs and boost revenues for the respondents. Implementing one or more of these measures could get you started on the right path for your business’ resolutions.

The top five strategies that more than 50% of the respondents implemented are:

  • Enhance or establish website or web presence.
  • Increase efficiencies by using new technologies or automating existing systems.
  • Partner with minority or woman-owned firms.
  • Increase marketing/advertising expenditures.
  • Add new product/service offerings.

If you are interested in finding out more about the Certified Financial Management Association or the annual survey, visit their website at www.cfma.org.

If you have any questions or are seeking assistance in planning solutions for your business, contact our Real Estate and Construction Services Group.