Insight Data: Increasing revenue to mitigate higher costs

Andrew Scott, Managing Director at Insight Data, writes this article that centres on increasing revenue in order to mitigate higher costs…

“It’s hardly a secret that the cost of doing business in the construction industry has hiked dramatically. With materials remaining expensive, wage expectations continuing to rise, National Insurance contributions up and energy bills affecting every link in the supply chain, many companies are left wondering where the pressure valve might be found. Or whether it’s worth soldiering on at all.

The default response for many is to start cutting. In some areas, this is reasonable, even sensible. Reviewing overheads and renegotiating contracts exposes waste and inefficiency, and trimming that back is simply good housekeeping. But beyond a certain point, cost-cutting becomes a diminishing return, as Elon Musk has discovered during his ‘Doge’ period in the US government. Slashing everything in sight doesn’t create a path to meaningful growth, and without growth, sustainability becomes harder to achieve.

‘Boosterism’

To balance the equation, revenue must increase. And in most cases, that means generating more business. So the logical conclusion is to focus on sales. Now, in a challenging economic climate this might be regarded as ‘boosterism’ or unfounded optimism. But companies must find ways to attract more of the right customers, win better contracts and retain high-value clients. This depends on sales technique and product quality, but equally on marketing that is properly focused and executed with precision. What is needed now is a sharper approach, guided by intelligent data and aimed directly at the decision-makers.

Oddly, though, many bosses will head directly to the Marketing Director’s door when the word ‘cuts’ is mentioned. This temptation to cut marketing altogether when things get difficult is, unfortunately, still common. However, withdrawing from the market during a slowdown is almost always a short-sighted move. It hands opportunity to competitors who stay visible and creates a longer road back when demand begins to recover.

As I’ve experienced time and again, the better path is not to stop marketing, but to do it better. It  means eliminating guesswork, cutting wasted effort and focusing only on prospects with the greatest potential. It means understanding exactly who to contact, why they are worth contacting and how to approach them in a way that resonates. And all of that relies on data.

At Insight Data, we have built a reputation for providing the most reliable and comprehensive industry-specific prospect databases in the UK. Our specialist datasets cover every sector of the construction industry and each record includes detailed, regularly updated intelligence, so you can make contact with complete confidence and relevance.

Salestracker

Through our cloud-based platform, Salestracker, clients have real-time access to more than 80,000 potential customers, along with all the information needed to engage them effectively. From contact details to business size, sector focus and key personnel, the data is structured to support both strategic planning and day-to-day sales activity.

This targeted approach enables smaller firms, in particular, to compete with much larger rivals, not by spending more, but by being more precise. Instead of scattering brochures or cold emails across an entire market, your resources are concentrated where they are most likely to deliver results. This increases conversion rates and improves the overall quality of customer engagement.

For sales teams, the benefits are equally clear. Time is no longer wasted on cold leads or poor fits. Calls are warmer, conversations more informed and meetings more likely to progress. And because the platform updates continuously, you always have a current view of the market, allowing you to react quickly to changes and opportunities as they emerge.

Targeting value

Increasing revenue is about targeting value. That might mean expanding into new sectors, identifying larger clients or simply focusing on those who are more likely to buy again. With the right data, these opportunities are far easier to find and far less costly to pursue.

In an environment where costs are rising and pressure is mounting, businesses can’t afford to approach sales and marketing as they always have. The risks are greater, but so too are the rewards for those who can adapt. There will always be a ceiling to how much you can save, but there is no limit to how much you can sell, provided you approach growth with the right tools and the right mindset.

At Insight Data, we work every day to give businesses across the industry a clear competitive advantage. Our insight, technology and expertise are designed to support smarter sales and marketing, built on accuracy and fuelled by opportunity.”

To find out how Insight can help you identify and win the customers that will drive your business forward, visit www.insightdata.co.uk.

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