What Lies Ahead for the Construction Sector?
According to Construction Enquirer’s headlines last week, the construction sector is ‘sliding into recession’, with industrial and housing the only areas to experience growth over the past quarter.
The headlines are not want any of us in the sector want to be reading, but, if we drill down a little further, it’s actually a much brighter picture.
Firstly, it’s important to note that the recent dip in construction output is a fall of just 0.9 per cent, the only reason it is being considered significant is that there was a 0.5 per cent fall in output during the previous quarter. If we view those figures in context, however, this seems much more like a levelling out than a fall, as construction output remains 26 per cent higher than it was in January 2013.
Moreover, the continued growth in housebuilding, particularly in the social housing sector, will be a catalyst for a wider range of projects because those new communities will need new schools, new retail and leisure facilities and new roads.
No doubt analysts, politicians and construction professionals alike will be watching closely to see how the market develops over the next few months; but recession seems a very big word for a very small adjustment to the sector’s fortunes to date.
It is, however, a reminder, that the status quo is never guaranteed in the construction sector, particularly during the current phase of transition and negotiation. We cannot control what happens next or where local and global influences will take the economy…but we can ensure we’re prepared.
Whether your pipeline is full to bursting or you’ve experienced indicators of a slow-down first hand, your marketing activity has an important role to play in ensuring your business is robust for the future.
In a competitive climate, you have to be certain that your commercial proposition is well defined and communicated, which requires a clear marketing strategy, consistent messaging, a compelling shop window and effective customer engagement.
From strategy development through to website design, PR, social media and direct mail, we can support you with the tools you need to stay ahead and win more work. We know the construction sector so we understand the challenges you face and the opportunities available for companies with the right marketing in place.