RCD Points to Onvia for Lead Generation in a Tight Economy

Posted by editor on December 4th, 2008

Reed Construction Data Calls Onvia a “Lead Generation and Business Development Leader”

In a recent article titled “Demand for Leads Growing in Tighter Economy,” Reed Construction Data (RCD) writer Craig Roberts makes a strong case for use of lead generation sites in a down market. The article cites a November 2008 survey of Reed customers, asking the question: “In today’s economic environment are you more or less likely to use your lead service?” The results were compelling:

The sample customer group consisted primarily of contractors and manufacturers; however, engineers, environmental firms, and equipment rental companies were also represented. Overall the majority (64.81%) of respondents said they are “much more likely” or “more likely” to use the lead service in today’s economic environment. Less than one third (29.63%) said there would be “no change” in their usage and 5.56% said they would use the lead service less frequently.

Roberts goes on to list several more examples of increased attention to lead generation activity in the recent economic downturn. It’s clear that, as companies need to do more business with fewer resources, they are looking to outside sources to take on the difficult and time-consuming work of lead generation. As a provider of comprehensive business intelligence, Onvia is a leader among these external resources. Roberts mentions Onvia’s recent designation as a “Rising Star” by Outsell:

How can these observations be interpreted and are they supported by other sources? Many proclamations have been made — from Business Week to Buzzle.com — about the virtues of reliable and actionable information when the economy hits a rough patch. Print advertising is forecasted to decline; however, online subscription services and online advertising should fare much better. Anthea Stratigos, CEO of Outsell, a popular research and advisory firm for publishers and information providers, very recently predicted subscription offerings coming “a little bit more back into vogue” and in September, 2008 Outsell highlighted Seattle-based Onvia, a lead generation and business development leader, as a “rising star” in its 2008 Information Industry Market Size, Share, & Forecast Report. These B2B trends have relevancy for the construction industry as it slowly but steadily embraces technology and especially the internet.

Construction and product specification lead services, trade shows, and advertising are typically large components of a building product manufacturer’s marketing budget. Contractors have for decades used construction leads to find new business, bid projects, and develop partnerships. It has been said that cutting marketing spend for leads and advertising may be giving ground to competitors who are more aggressive and decisive in a downturn. That aside, it is rational and prudent to scrutinize all expenses during a downturn; “cost containment” is a term often used right now. Expenses that cannot be linked to revenue are first on the chopping block. Lead services and online advertising — when implemented correctly — have measurable outcomes making an ROI determination easier. The best vendors are active in customer implementation by assigning resources, facilitating integration, conducting training, and measuring results with customers.

To read the entire article, go to http://www.reedconstructiondata.com/news/2008/11/demand-for-leads-growing-in-tighter-economy/.

In order to assist companies struggling in the current market, Onvia CEO Mike Pickett has recently started writing a series of posts for Government Contracting Best Practices. The series, titled “Succeed in an Economic Crisis,” puts Pickett’s 20-plus years of business experience to work with actionable advice for today’s market.

In times of economic stress, companies of all sizes are looking to reduce workforce without slowing growth. Hiring additional staff to handle lead generation is no longer an option for many businesses across the country. Having an Onvia subscription is like hiring an entire team of researchers to find bids, RFPs, contact information, and other opportunities targeted to your area, industry and business needs. To find out more, go to www.onvia.com.

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