Solution: Take a fresh, Honest look at your service growth strategy and determine if your value proposition resonates with your customers and helps your sales team succeed.
To get started, assess how your customers and prospects see you versus your competitors.
- Why do clients work with you today?
- When you lose an opportunity, do you honestly understand why?
- Are the reasons customers work with you truly sustainable? Downturns breed a lot of new competitors that will drive down prices and margins. Will you overcome that?
- What new dynamics (for example real-time building analytics) will change industry dynamics and how will you adapt?
- Have you gained market share during this expansion (not just in revenue but accounts)?
- If you’re not meeting new client expansion targets in a robust economy, what is the likelihood you will be able to in a declining market?
- If you’re growing, how can you accelerate growth and prepare to take share from weaker competitors as the market turns?
Our Approach: BuildingAdvice got its start in 2008 at the inception of the not so “Great Recession”. We built our applications, management strategies and sales methods at a time when vacancy rates were high, bank financing was scarce and lease rates were plummeting. While we focused our development efforts on increasing efficiency of both sales and engineering teams, it became readily apparent that engineers, by education and training as well as early stage tools, could already identify and correct sources of energy waste, especially in larger buildings and projects. However, medium sized buildings that were typically targeted by service sales teams were underserved because they were ill-equipped to partner with clients in reducing operating budgets, especially energy utility budgets. So, we began to focus our software and program development efforts on enabling maintenance and project sales to incorporate energy and other operational cost savings into the value they deliver.
Back then vacancy rates were increasing and lease rates were dropping. Tenant demand dried up and building owners lost buildings to banks. Investors were hit with capital calls to stay within their covenants. Building operators were forced to transition from a top line, revenue focus to cutting costs. As difficult as it was, all industries were feeling pain.
In parallel, contractors worked through their project backlogs and were forced to rely on their service business to get through lean times. Those with a more robust service business were able to take advantage of the changing economy. One consistent theme? The contractors that truly delivered measurable reductions in building operating costs were doing far better than those that didn’t. When pressed, the companies that didn’t deliver measurable operating cost reductions felt that things like reputation, training programs and other factors would be reasons customers did and would continue to business with them. Unfortunately for them, the market reeducated them pretty quickly. It was in this crucible that BuildingAdvice was created.
Our time in the field quickly indicated that we needed to build a comprehensive, turnkey platform that enabled sales teams to differentiate their service offering by measurably reducing their customers’ building operating budgets. And we knew we needed sales teams to control their own destiny. Few had access to engineering resources, and those that did competed with other parts of the organization for these scarce resources. So, we knew the software tools not only had to automate sales processes to drive efficiency, they also needed to incorporate AI to replace the need for engineering resources in the sales process so sales teams could control their own destinies. And in the event an opportunity required engineering services, we needed to supply analyst support to help drive sales transactions. To that end we’ve implemented an evolving platform that includes:
- Management Consulting
- Software Applications
- Reporting and Dashboards
- Sales Processes, Training and Coaching Programs