Question:

I am a specialty flooring subcontractor. Work has dried up in the residential market so I am trying to break into the commercial market. I need help finding project leads fast! What should I consider as I select a lead service?

Answer:

For small companies that need to transform project leads into work quickly and have limited time, staff and/or computer expertise, a subscription to a service that is both cost-effective and can deliver project leads in both traditional print and electronic formats may be the best choice. Reed Construction Data offers Reed Bulletin, which is available 24 hours a day, 7 days a week, both in English and with a Spanish language user interface. Projects are posted to the website in the planning stage and the site is updated daily as projects are tracked through the negotiation, bidding and post bidding stages. Both print and electronic versions of the Reed Bulletin are compiled weekly. The print version is mailed, while the PDF version can be downloaded and searched by keyword using the Ctrl + F function. As an add-on service, plans, specifications and addenda can be ordered for delivery electronically or overnight via FedEx. Reed Bulletin requires minimal training, so new users can be up to speed quickly, contacting decision-makers the same day they sign up for the service.

Another type of service that is a good choice for small businesses with limited budgets is a “pay as you go/leads by the batch” model. Reed offers SmartLeads, which allows summary level information for thousands of projects throughout the U.S. and Canada to be viewed and tracked free of charge. When users need complete access to project details, contacts, plans and specifications, they can purchase leads in packs of 10 or 25 for prices beginning as low as $150.

A third type of service is a web-based tool that allows users to conduct and automate pinpointed lead searches based on specific, targeted input. Because this type of service offers the greatest degree of information, functionality and customized search capability, pricing will be higher and the learning curve will be longer, so it is usually a better choice for larger firms with the resources available to maximize its value. An example of this type of web-based service is Reed Connect. This robust online service delivers access to thousands of leads and provides customized search capabilities, tools for managing contacts and the ability to track specific projects. Categories of search variables include construction types, construction stages, contract types, development types, owner types and geography. Additional selection variables can include value, square footage, number of stories and number of structures. Leads are deliverable in a variety of formats on a schedule determined by preference.

Although there are advantages and disadvantages with every type of project lead service, the one that is best for a given company will depend on that company’s capabilities, objectives and budget. Before investing in a particular service, first determine the return expected from the service. Next, explore the service options available, taking time to talk with sales representatives and users of different services. Finally, once the options have been narrowed, find out if a free trial is available to “test drive” these services. Taking time to weigh the pros and cons of each service carefully before subscribing will help to ensure that you select the most appropriate service for your company’s needs.

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