Partly because of the different ways contractors want to see software priced, there’s sometimes a wide divergence in the price of similar offerings. For example, there can be significant variance in the price of specific products such as takeoff software.
CMS providers need to find out which features are valued, and to apply a robust, triangulated set of pricing analyses to determine the optimal packaging and pricing. We’ve found that companies can increase revenue by 10%-30% with better pricing.5
Determine where and how to deploy premium training solutions and concierge support.
The growing complexity of solutions, together with construction labor turnover and limited user familiarity with software, has users looking for more support. In response, a number of companies have deployed premium training and support. For instance, BuildBook includes direct access to a dedicated team member with its intermediate offering, adding personalized setup with its most advanced package. UDA includes a dedicated success coach with its intermediate and advanced bundles, and also provides on-site training. Hover adds white-glove onboarding with its most advanced package.6
Companies need to determine the best form of support for the customer they’re targeting, such as basic training for smaller, less sophisticated users. They also need to decide how to deliver it, whether through boot camps, customer visits, distance learning or other formats. Another decision involves how to price and bundle the training — say, as a stand-alone service or as part of a package of other features.
Find ways to support users’ need for data to meet corporate sustainability goals.
Corporate sustainability goals have increased focus on buildings and their construction, providing an emerging opportunity for construction management companies. Net-zero commitments have to be measured, which means an increasing need to demonstrate sustainability practices and to measure the use of materials and energy on the job site.
In light of this trend, CMS providers should consider ways to help installers burnish their sustainability credentials and measure the carbon impact of their construction. One example is a feature that provides pro forma carbon footprint information on a bill of material.
Identify ways to monetize data given building and construction investors’ appetite for insights.
Investors and players in the building and construction industry are eager for more insights about the state of the marketplace and the use of specific materials and channels. This is an opportunity for CMS companies to think about where they can monetize data. For instance, takeoff solutions can be redesigned with a specific goal to pool and generate insights from multiple takeoffs.
Data aggregation and monetization will become more important over time as more and more installers adopt solutions. CMS companies can prepare now by designing and implementing the optimal data gathering and analysis mechanisms to capture future benefits.