The 3 most pressing problems of construction businesses

Cost, raw material prices increase

During the period of influence of the Covid-19 epidemic, construction enterprises in Vietnam are facing unprecedented difficulties and challenges. In addition to increasing competitive pressure and declining market demand, the increasing operating costs, selling costs, and input material prices… are also causing businesses “headaches”.

According to statistics, the price of construction materials has continued to increase from the beginning of 2021 until now. Most construction materials such as cement, bricks, tiles, electricity, and water supplies have increased prices by 10-20%; especially steel prices increased by 30-40%. Meanwhile, signs of price increase have not shown any signs of cooling down and common mineral resources such as ground soil, sand, stone… are becoming scarce.

Not only the cost of labor, the price of materials has increased, but the freight rate has also increased by 1.5-2 times compared to the prescribed price. All of this makes the construction business more difficult than ever.

Competitive pressure is getting fiercer

The heavy impact of this 4th wave of Covid made market demand decrease, many projects were delayed or canceled. Public investment projects are congested and input prices increase, while the budget estimates cannot be adjusted. FDI projects in the manufacturing sector were also delayed because investors could not come to Vietnam, production and business activities were delayed due to many supply chains being disrupted.

 Besides, construction enterprises are also under fierce competitive pressure when more and more new units enter the market. Existing contractors have a cumbersome and inefficient apparatus, working methods are mainly based on familiar relationships… Large general contractors are divided into many contractors with similar operating methods and capabilities. are equal, no longer dividing segments, so they mainly compete on price. Competitors race to cut prices to get jobs, leading to significantly reduced profits.

The ability to expand new customers is still limited

It is a fact that the ability to access and expand new customer groups and projects of many construction businesses is currently facing difficulties due to the way of searching, assessing, and approaching new opportunities in the market.

Most construction enterprises have not yet paid attention and focused on researching how to do and invest in Marketing. While customers are foreign investors, it is difficult for them to find information and approach businesses early due to obstacles in terms of distance, language, culture…

 Besides, the ability to convince customers to use products and services in the construction industry is still limited. Most businesses often only focus on reducing prices, promoting personal relationships, or using outside influences to influence to push products faster. These factors are becoming increasingly outdated, do not increase profits, and develop sustainably based on the capacity and value of the business.

Based on understanding the problems that construction businesses are facing, HOUSELINK has researched and designed comprehensive solutions to support businesses to develop sustainably and achieve many significant benefits.

 It is promoting the process of increasing and attracting potential customers so that customers know, care about, and believe in the company’s capacity, reputation and values, and the products and services that the company provides. Besides, it also helps businesses expand new customer files, breaking away from the previous “seasonal” business development method.

  • HOUSELINK with its advantages will help your business spread the brand, attract potential customers by creating an online portfolio on the HOUSELINK platform – where the community of businesses builds reputation. The largest and most prestigious in Vietnam today. At the same time, regularly publish articles and stories of businesses on specialized media channels such as Vietnamconstruction.vn and community social networking channels…
  • Based on technology and abundant data sources in the construction industry both domestically and internationally, HOUSELINK will conduct periodic email marketing campaigns to target customers. The content of the email will update the fluctuations of the industrial and real estate market, the movement of the production supply chain, etc. to potential customers, partners, and investors. Content that meets the needs of the investor and the image of the business will be displayed in the most natural way to potential partners.

  •  Not only that, HOUSELINK also helps businesses promote their brands naturally and prominently in places where potential customers are often present such as: seminars, industry exhibitions, first promotion events Quarterly golf tournaments…
  • HOUSELINK will support businesses to actively find new customers not in “relationships” through Pro-Contractors, Pro-Suppliers services. This is an effective information channel for businesses in the industry to quickly find, identify and seize opportunities in construction projects that are being and are about to be implemented. Combined with hourly consulting support to quickly receive instructions to increase your ability to reach the right person, at the right job at the right time.

Hopefully, through the above article, you will find the best solution to help your business overcome the pressures of today. HOUSELINK is always ready to accompany businesses to build, confidently bring your business the most successful marketing campaign.

Sign up for a consultation here.

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