Top Marketing Trends of 2019

Marketing and technology continue to evolve at a breath-taking pace. Each year, these changes have an impact on on how business-to-business marketers plan and execute their tactics. Marketers need to keep a pulse on current trends will help firms improve their marketing effectiveness in 2019. Key trends to watch:
 

Focusing on the Customer Experience: Years ago, B2C marketers started to focus on the customer experience (CX). Successful B2C companies were able to engage customers by reducing friction and providing positive customer experience. B2B markets will need to take a customer-centric approach to differentiate and build a competitive advantage. 

Content Marketing: Content marketing will continue to be the cornerstone of B2B marketing efforts in 2019. According to the Content Marketing Institute (CMI), content marketing is a strategic approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience — and, ultimately, to drive profitable customer action. CMI recently reported that 80 percent of B2B firms are focused on building a content marketing strategy.

Integrated Marketing Communications: The concept of “integrated marketing communications” (IMC) is a systematic way to coordinate their efforts across all possible channels. While IMC is not a new concept, the application of IMC has fresh relevancy as new channels emerge. IMC is a strategic approach designed to harness advertising, direct marketing, public relations, sales promotion, digital marketing, content marketing, and other programs to work in coordination as a unified force. This approach enables the consistent delivery of coherent brand positioning through all media. An integrated effort consists of planning, coordinating, and controlling the communications process with the result being a synergistic, seamless, customer-focused marketing program.   

Retargeting/SEM/SEO: Retargeting, Search Engine Marketing (SEM), and Search Engine Optimization (SEO) will continue to be critical to a firm’s marketing success. Over the past few years, considerable attention has been paid to managing title tags, headers, and meta descriptions while posting content online. And these strategies remain as important as ever — after all, what good is it to create great content if no one can find it? Web searches drive most traffic to B2B online content, therefore higher SEO rankings typically result in higher traffic and more customer conversions. Algorithms will continue to change in 2018, so marketers will have to remain vigilant in their response to those changes. Targeting— Without diving into the nuances of differences between search, behavioral, and contextual marketing strategies, targeting will continue to emerge as a key tactic for marketers. Targeting involves processes by which visitors see specific and relevant advertisements based on their browsing history, content engagement, or other online behaviors. Targeting is a powerful way to remind past visitors to re-engage. It is driven by the insights and analytics provided by big data. Fortunately, setting up and managing a targeting program has become very easy. Marketers will seize on this effective approach to focus on relevancy, connect and engage with viewers, and convert them to customers.

Big Data/IOT Marketing Applications: In many industries, business rely on big data provides actionable insights and predictive analytics. The internet of things (IoT) is a network of physical devices, wearables, and other items that are embedded with electronics, software, sensors, and actuators. With network connectivity, these objects can exchange data, and this interconnectivity provides opportunities for marketers to listen to their clients and more effectively respond to their needs. Firms who leverage the IoT and Big Data will focus more on buyer personas and the customer’s journey, thereby increasing engagement.

Video Content: The use of video in B2B marketing has gained considerable popularity. Studies show that video content engagement levels are far higher than they are for standard content. Video consumption is increasing on mobile devices, as well. Subject matter that addresses clients’ challenges and problems will be the most successful — after all, construction processes are complex, and visual demonstrations can be invaluable. Video content must be relevant, clear, and concise and have a call to action (CTA).

The above tactics tie into one of the most touted terms in the business world: ROI. Increasingly, marketers — like other business professionals — are focusing on tracking the return on their investments. Factoring marketing into a firm’s overall ROI tracking can help guide strategies and improve results. By quantifying the achievement of specific goals and targets, ROI helps ensure that campaigns are effective … because what can be measured can be managed.

Collaboration Results in Better Project Outcomes

The construction industry needs to move beyond being a siloed and adversarial industry, where incentives lead stakeholders to preserve their own self-interests and priorities. The traditional chain of command that was instituted to avoid or mitigate risks has hefty costs in terms of delays and inaccuracies. Common goals are the solution, because synergies between team members can produce quality products more efficiently. Genuine collaboration results not only in improved outcomes for the owner, but in more successful projects for all parties involved. It leads to less friction, improved relationships, safer jobs, better quality and higher profits.

For years, construction has had extremely low productivity growth compared to other industries.

Fragmentation within the industry is often cited as the primary cause of this. While other industries have been incentivized by the economies of scale they could realize by putting together large teams and sophisticated processes, such economies have been rarer in the construction industry because each project has a unique set of challenges and opportunities. This has had a detrimental effect on many aspects of project delivery and on overall project success. But new workflows and technologies are enabling the construction industry to achieve greater alignment across projects, with both information and relationships having broader reach than were once possible.

Traditionally, phases of work have been competitively bid. Architects, engineers, general contractors and subcontractors are typically part of different companies that have different—and often conflicting—goals and objectives. Furthermore, the goals for individual projects are short term: the multiple firms that come together to construct a single project move on after it is complete. In this scenario, it is too easy for the companies to become aligned against one another.

In response to competing interests, hierarchies form. Subcontractors are typically the most affected. Seen as being at the bottom of the chain, they are not treated as equal partners. However, subcontractors are often able to provide great perspectives, ideas, approaches and solutions to a project. If their input is not considered during project planning, this expertise goes untapped, leading to errors and delays as the project moves forward. This is a direct result of competitively bidding the phases of the project.

While competitive bidding may result in lower costs to the owner, it can lead to disputes and conflicts as players seek to shift risks. The litigious nature of construction fuels a risk-averse culture, and a downward spiral is perpetuated. Contract structure and wording tend to reinforce individualism and competitiveness. This translates into unforeseen costs that are passed along to the owner, negating the low prices that seemed to be the benefit of a competitive bid.


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Are We Facing a New Era in Foreign Direct Investment?

In 2017, the A.T. Kearney Foreign Direct Investment Confidence Indexconcluded, “Investors are bullish about economic growth and FDI [Foreign Direct Investment] prospects, but are monitoring political risks for abrupt changes to the business environment.” 

Fast-forward to 2018, and that monitoring is heightened. Trade negotiations and legislation having an impact include: The Tax Cuts and Jobs Act, President Trump’s renegotiation of NAFTA and other trade agreements, the Foreign Investment Risk Review Modernization Act of 2017 (FIRRMA), and tariffs and trade wars.

Some of these actions may have their intended effect of protecting U.S. companies and the nation’s security. For example, the construction industry should reap benefits from tax cuts that lower their effective tax rates. But while easing financial burdens on U.S. businesses—especially small businesses—may be good for the economy, there is widespread concern regarding actions seen as hostile to international trade. Governmental proceedings, as they unfold day-to-day, are very dynamic and fluid. They represent a confluence of political, economic, security, and social issues, and the complexity of the situation is currently causing large international companies to press pause on their investments.

Yet FDI is critical to a thriving domestic economy. According to the Office of the Chief Economist within the U.S. Department of Commerce, “FDI supports a host of benefits in the United States, such as good jobs and innovation resulting from research and development.” And historically, the U.S. has been about average in terms of its restrictiveness on foreign investment. Currently, however, Congress is reviewing FIRRMA, a proposed bill that seeks to protect national security by limiting foreign control of the country’s critical infrastructure.

Significant upheaval was triggered in the first half of 2018, when the White House announced a 25% tariff on foreign-made steel and 10% tariff on aluminum. The action was largely a response to China’s perceived “dumping” of cheap steel and it made a statement about the Trump administration’s attitude toward global trade relations and the perceived status quo. 

Maintaining a healthy global economy based upon reciprocal economic relationships—and with the U.S. as an equitable participant—is key to the stability of our own economy.

Stakes rose much higher in early July, when the U.S. imposed an additional 25% tariff on $34 billion of goods imported from China. China responded with an equivalent tariff on $34 billion of goods it imports from the U.S. By July 10, the Trump administration had released a list of $200 billion worth of Chinese goods that could be subject to 10% tariffs. Hearings on these proposed tariffs are scheduled to occur Aug. 20-23.

Beyond this escalation between the world’s two largest economies, Canada announced that it would match (but not escalate) the dollar value of the U.S.’s steel and aluminum tariffs with tariffs of its own, with affected products including consumer goods. Europe is pondering how it can respond to U.S. tariffs without becoming embroiled in a damaging trade war—a task made more difficult by President Trump’s threats to impose tariffs on European auto imports. Switzerland, Russia, China, India, Canada, Mexico, Norway, and the European Union have begun working with the World Trade Organization (WTO), pursuing dispute settlement.

It’s impossible to judge just how long the domino effect will continue. Some experts are predicting that Europe, China, and other economic powerhouses will form mutually beneficial trade relationships with one another that exclude the U.S.

According to consulting and research firm Rhodium Group, Chinese acquisitions and investments in the U.S. fell 92% in the first five months of this year. CSNBC recently reported “Foreign direct investment worldwide is on the decline due to trade war fears, immigration, and protectionist policies.” This follows FDI that was already in decline. According to the United Nations World Investment Report 2018, global foreign direct investment fell by 23% in 2017, and the UN expected it to grow little (or not at all) in 2018. On July 11, the Bureau of Economic Analysis (BEA) released numbers on expenditures initiated by foreign investors in 2017 (the latest available data), and those expenditures were down 32% since 2016.

Various experts have reported that the construction industry is already feeling the effects of the recent tariffs, not only with higher steel and aluminum prices, but with higher prices on Canadian lumber. The news outlet Route Fifty shared a Moody’s Investors Service report which found that “states with the greatest trade dependency on China, Canada, and Mexico are at highest risk of seeing their tax revenues decline—namely Michigan, Kentucky, and Louisiana.” The report also identified manufacturing hubs like Detroit and Greenville, S.C., as well as port cities, as being at high risk.

FDI raises the standard of living for communities and creates opportunities for construction companies across the U.S. Maintaining a healthy global economy based upon reciprocal economic relationships—and with the U.S. as an equitable participant—is key to the stability of our own economy.

Construction Crews Face Labor Shortage as Demand Increases

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By 2026, the U.S. Bureau of Labor Statistics estimates the job outlook for the construction industry will grow by more than 10 percent. The demand for more skilled construction labor is being felt in upstate South Carolina as new construction is happening rapidly.

"That demand is certainly putting a strain on the industry in terms of not having enough manpower," Board member for the Associated Builders and Contractors of the Carolinas Brian Gallagher said.

He says the industry as a whole has not made a lot of effort in the past to recruit new laborers. Now, as much of the long-time construction workers are aging toward retirement, they are experiencing a huge gap in manpower.

"Everything from carpentry, to masonry, to concrete work, folks that do steel erection, folks who do welding it's really across the board," Gallagher said.

Like many other projects in South Carolina, a lack of manpower is what put the new Van Wyck Elementary School weeks behind schedule.

"It could impact the schedule, projects not being done on time," Gallagher said, "It could impact the quality and most importantly-impacting safety."

While the need for workers is a great opportunity to cut the unemployment rate down, industry leaders say it has not been that simple.

"A lot of school systems are geared toward getting students on track to go to college." Gallagher said.

Ed Moore is the Department Chair for York Technical College's Building and Construction Trade Program. He says there was a dip in enrollment after the recession, but it has started to pick back up. Many of the enrollees, he says, already have a four-year-degree in something else, but have come back to trade school to get a job.

"We had one guy who was a theater major-4 year degree-he couldn't get a job, so he came here and did one semester," Moore said. "Now he's an electrician. So 16 weeks of school got him a job."

The program can be completed in as little as 16 weeks, if a student specializes in one trade. Moore says they also offer one-year certificates and two-year associates degrees for completing all of the trade courses.

"We're at 100 percent job placement, so all of our students who are graduating are getting jobs even before they graduate," Moore said.

The program is successful, but now the challenge is getting more students to enroll in vocational school.

"It's just a matter of people getting interested in going back to hands on work," Moore said.

"Not only do they have a job right when they come out, but they have competitive pay which is sometimes higher than those with a four-year degree and I think most importantly they don't have student debt," Gallagher said.

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Moving the Country Forward with Foreign Direct Investment a Balancing Act

Shake-ups are happening for foreign investment in the United States. New legislation is in the offing and precedent-setting decisions—particularly those surrounding an executive order to block a corporate deal in the tech sector—are in the headlines. What will it mean for the construction industry?

Foreign Direct Investment, or FDI, is critical to the U.S. economy. Many cities and states owe their strong economic standing to the investment of foreign-affiliated companies. Across the country, contractors are benefiting from this investment with the construction of buildings, manufacturing facilities and other structures. While the investment fueling the industry is critical, so is the protection of national security interests. Tariffs, trade wars, infrastructure investment and policy changes are already having implications for the construction industry.

According to SelectUSA, the United States is home to the largest amount of FDI in the world. FDI is an investment in or acquisition of a business by an investor from another country who has authority over the management, operations and policies of the company purchased; for this reason, most governments want to track who invests in their country’s businesses. Globally, developed countries have been tightening restrictions on FDI. The United Kingdom and the European Union both adopted stricter controls in 2017. Historically, the U.S. has been about average in terms of its restrictiveness on foreign investment. Recently, however, Congress introduced two pieces of legislation that could significantly change traditional FDI assessments:

• The Foreign Investment Risk Review Modernization Act of 2017 (FIRRMA), which seeks to modernize and strengthen processes undertaken by the Committee on Foreign Investment in the U.S. (CFIUS). The goal of the act is to more effectively guard against risk to U.S. national security posed by certain types of foreign investment. Presumably this could include areas such as artificial intelligence, robotics and aerospace, but it could also reach further. The law could restrict purchase or lease of real estate located in the United States “in close proximity” to a U.S. military base and/or other “sensitive” government facilities or properties by foreign individuals and companies. In addition, the legislation would also address acquisitions and joint ventures involving foreign-owned companies.

• The United States Foreign Investment Review Act of 2017 (USFIRA), intended to create a new process whereby the economic effects of certain proposed foreign investments in the U.S. would be reviewed by the U.S. Department of Commerce.

These bills are being presented to protect national security, in part by limiting foreign control of the country’s critical infrastructure. The U.S. Department of Homeland security defines 16 critical infrastructure sectors “whose assets, systems and networks, whether physical or virtual, are considered so vital to the United States that their incapacitation or destruction would have a debilitating effect on security, national economic security, national public health or safety, or any combination thereof.”

The question can be asked: Why even participate in FDI if there could be a national threat? The answer is that FDI is critical for developing economic prosperity. According to the Brookings Institution: Foreign multinational corporations that invest in the U.S. pay higher wages, offer greater benefits, exhibit higher productivity, provide more value-added to U.S. domestic inputs, import via superior access to external supply chains, export more goods and services, and engage in greater research and development than purely U.S. domestic firms. At the same time, foreign investors put competitive pressure on U.S. firms to upgrade their technologies, management practices and quality-control procedures, and often offer channels of learning for imitation by U.S. firms. Indeed, the most recent data show that 12 percent of all productivity gains by firms in the U.S. economy over more than two decades can be traced to spillovers from foreign investors.

 FDI raises the standard of living for communities and creates opportunities for construction companies across the U.S., as well as giving the economy and businesses who are investing a competitive advantage because of the diversification, which typically increases return without increasing risk.

Striking a Balance
Many policy and legal experts believe FIRRMA will be passed in the next few months, while USFIRA may face a tougher road before being enacted.

Many have questioned the nature of CFIUS’s reviews and the expansion that is outlined under FIRRMA. Concerns center on the fact that previously the committee narrowly identified national security threats, whereas FIRRMA broadens the scope and requires CFIUS to judge if there will be any loss to the U.S. in terms of technological or industrial advantage, and to judge if sensitive information may be exposed. The bill also expands the jurisdiction of CFIUS and gives the committee authority over technology exports. If any threats across this broad spectrum are identified, the committee can advise the president to suspend or block an investment.

It is telling that only four investments have been blocked by past presidents. Concerns over China’s acquisitions, in particular, as cited by John Cornyn, United States Senator for Texas, are driving lawmakers to close existing gaps in the CFIUS review process. The new bill is a bipartisan effort to support the review of FDI to protect U.S. based companies and their technologies. The language in the bill is tailored to focus on national security concerns and distinguish between investments that are financially motivated and investments that are strategically motivated.

In addition, the legislation changes the review process timing. FIRRMA authorizes certain declarations for certain covered investments such as technologies, materials and infrastructure and increases the initial review period from its current 30 days to 45 days. Under extraordinary circumstances, CFIUS may extend the 45-day review period by an additional 30 days. For those in the construction sector, FIRRMA comes with significant improvements to the current process and is a reasonable approach to afford the key protection of intellectual property and infrastructure we must have as a country; many believe the bill will help the U.S. fight foreign trade barriers while allowing the country and state’s economy to continue to prosper. 

A Precedent-Setting Move
On March 12, 2018, President Trump issued an executive order to block a proposed takeover of the U.S. tech firm Qualcomm by Singapore-based Broadcom. In late 2017, Broadcom had offered an unsolicited takeover bid that Qualcomm rejected, making the recent situation (in which Broadcom offered $117 billion) a hostile takeover. The two companies together represent a large portion of computer chip manufacturing.

Prior to President Trump’s order, CFIUS had voiced concern that the takeover could be a competitive disadvantage for the United States in the upcoming 5G “tech revolution.” 5G cellular technology is not only faster than previous iterations, it also supports much greater connectivity, including new technologies such as self-driving cars and remote medical care. Additionally, its transmission will be globally standardized.

A CFIUS memo released in early March gave insight into the group’s process and mindset. The memo stated CFIUS was looking at "the risks associated with Broadcom's relationships with third party foreign entities," as well as the "national security effects of Broadcom's business intentions with respect to Qualcomm." The letter was written by a Treasury Department official.

The Situation on the Ground
Contractors for federal projects must keep informed regarding the Trump administration’s implementation of CFIUS’s review process. According to Federal Publications Seminars, “If a foreign party invests in or acquires a U.S. government contractor – not just defense contractors – the parties may need CFIUS to review and clear the transaction. This process includes CFIUS reviewing the foreign party, the U.S. company’s industry and business, as well as the U.S. company’s past and current government contracts, supply orders and any export controlled or classified information.”

Additionally, “FIRRMA may require more extensive ‘mitigation’ of national security risks to clear deals, such as installing secure operating systems, firewalling foreign buyers from operations or prohibiting offshoring/outsourcing.”

Furthermore, President Trump’s recent announcement of his plan for improving the nation’s infrastructure calls for more private investment in infrastructure projects. The President’s plan calls for $1.5 billion of investment, with only $200 million coming from federal investment. The potential exists for investments in critical infrastructure such as roads, bridges, dams, water ways, water treatment facilities, power projects broadband and other projects. These projects could be subject to review under the proposed legislation. In addition, investment by foreign firms in U.S. design and construction firms, materials suppliers and technology providers could face more scrutiny.

A higher bar for contract procedures, delays in review and approvals, increased paperwork and more will be worth the extra effort if national interests are served by the changes to CFIUS review. 2018 will be a year to watch as U.S. lawmakers strive to balance protecting the nation’s interests with avoidance of protectionist policies.

This article originally appeared in Construction Executive.

How Technology Is Changing the Construction Industry

Most construction industry professionals acknowledge that increased adoption of technology is in their future. Yet many still resist committing their time or money, and others invest sporadically, hoping to see results by using tech for tech's sake.

Top 10 Trends in AEC Marketing for 2018—With a Tech Twist

Technology and consumer behavior continue to evolve, having a significant impact on how marketers in the architecture, engineering and construction (AEC) industry plan and execute their tactics. The "rules" change on a regular basis, so keeping a pulse on current trends will help AEC firms improve their marketing effectiveness in 2018. There are 10 key trends to watch.

1. Content Marketing
Content marketing will be the cornerstone of AEC-firm marketing efforts in 2018. According to the Content Marketing Institute (CMI), content marketing is a strategic approach focused on creating and distributing valuable, relevant and consistent content to attract and retain a clearly defined audience—and, ultimately, to drive profitable customer action. CMI recently reported that 80 percent of B2B firms are focused on building a content marketing strategy.

But while content fuels the digital marketing experience, as the internet becomes more crowded and attention spans dwindle, companies must strive to create engaging material that keeps an audience’s attention. Investing in ebooks, white papers, infographics, videos, webcasts and more will allow AEC firms to share insights, ideas, expertise and perspectives with clients, prospective customers and the community. This will help establish them as credible resources. Marketers will seek to encourage users to participate in their content and engage them in coversations. Some content will take a storytelling approach, because stories help communicate messages and create customer connections; they can be about ideas, projects, people or relationships. In 2018, AEC firms will focus more on telling authentic stories about client challenges and how they solved their problems.

Branded content is a specialized form of content marketing. Branded messages engage clients and lead to conversions. In 2018, AEC marketers will focus on mapping content to buyer personas and will help their clients be successful by providing content that educates them.

2. Video Content
The use of video in AEC marketing has gained considerable popularity. Studies show that video content engagement levels are far higher than they are for standard content. Video consumption is increasing on mobile devices as well. Subject matter that addresses clients' challenges and problems will be the most successful—after all, construction processes are complex, and visual demonstrations can be invaluable. Video content must be relevant, clear and concise and have a call to action (CTA). Subcategories of video marketing that are expected to expand include:
• Live Streaming video will continue to become more popular in 2018. AEC marketers will stream more events such as webcasts, speaking engagements, presentations, ground breaking, ribbon cuttings, grand openings and more.
• Explainer Videos are a growing trend. These relatively simple videos describe a company’s product, service or project. While typically of short duration, these videos are very effective because they get viewers' attention and can quickly, effectively convey messages and concepts.

3. SEM/SEO/Targeting
Search Engine Marketing (SEM), Search Engine Optimization (SEO) and retargeting will continue to be critical to an AEC firm’s marketing success. Over the past few years, considerable attention has been paid to managing title tags, headers and meta descriptions while posting content online. And these strategies remain as important as ever—after all, what good is it to create great content if no one can find it? Web searches drive most traffic to B2B online content, therefore higher SEO rankings typically result in higher traffic and more customer conversions. Algorithms will continue to change in 2018, so marketers will have to remain vigilant in their response to those changes.
Without diving into the nuances of differences between search, behavioral and contextual marketing strategies, targeting will continue to emerge as a key marketing tactic for AEC marketers. Targeting involves processes by which visitors see specific and relevant advertisements based on their browsing history, content engagement or other online behaviors. Targeting is a powerful way to remind past visitors to re-engage. It is driven by the insights and analytics provided by big data. Fortunately, setting up and managing a targeting program has become very easy. Marketers will seize on this effective approach to focus on relevancy, connect and engage with viewers, and convert them to customers.

4. Integrated Marketing Communications
AEC marketers are embracing the concept of “integrated marketing communications” as a systematic way to coordinate their efforts across all possible channels. While IMC is not a new concept, the application of IMC has fresh relevancy as new channels emerge. IMC is a strategic approach designed to harness advertising, direct marketing, public relations, sales promotion, digital marketing, content marketing and other programs to work in coordination as a unified force. This approach enables the consistent delivery of coherent brand positioning through all mediums. An integrated effort consists of planning, coordinating and controlling the communications process with the end result being a synergistic, seamless, customer-focused marketing program.

A related term is "marketing automation," which refers to a group of software platforms and technologies that help marketers effectively manage efforts across multiple channels such as social media, website, email marketing and others. AEC and manufacturing firms commonly use these tools to coordinate content and landing pages along with postings on LinkedIn, Twitter, Facebook and other social sites. The marketing automation software segment grew out of email automation. Tools such as Marketo, Eloqua, Cosential and HubSpot offer a range of activity management, scheduling, monitoring and analytic tools. The software can be hosted or web-based, and many can tie into a firm’s customer relationship management (CRM) system. These tools offer insight into prospect/buyer behavior and buyer personas as well as provide an excellent means of managing engagement with a firm's digital marketing efforts.

5. Big Data/IOT Marketing Applications
Big data provides actionable insights and predictive analytics. The internet of things (IoT) is a network of physical devices, wearables and other items that are embedded with electronics, software, sensors and actuators. With network connectivity, these objects can exchange data, and this interconnectivity provides opportunities for AEC marketers to listen to their clients and more effectively respond to their needs. AEC firms who leverage the IOT and Big Data will focus more on buyer personas and the customer’s journey, thereby increasing engagement.

6. Artificial Intelligence (AI) and Machine Learning
In many industries, AI is having a significant impact on how companies market to their customers. In 2018, AEC marketers will become more analytical and focus on insights. AI consists of a range of items that support basic functions in business, including machine learning, deep learning and computer vision. AI enables AEC marketers to interpret and analyze big data and deliver customized content based on habits and personas. Investments in AI are already paying dividends for contractors in terms of improved efficiency, safety and quality.

7.  Chat Bots
During the last few years, live chat has gained steam on AEC websites. It is expected that an increasing number of firms will begin to use chat bots. These simple bots are based on predefined workflows and can quickly answer customer questions, driving engagement and converting leads. Chat bots are one example of how AI can help facilitate customer interaction.

8. Augmented and Virtual Reality (AR/VR)
Augmented and virtual reality technologies are one of the hottest trends in the construction industry. As more firms embrace AR/VR, their marketing departments will begin to communicate the ways in which these technologies enhance the client's experience.

9. Account Based Marketing (ABM)
Many AEC firms will continue to focus on account-based marketing strategies. These firms are taking a strategic approach and delivering personalized messages to key decision makers in select accounts. The messages are based on the specific attributes and needs of the targeted account. ABM strategies resonate with their audience because people are more likely to engage with content that is geared specifically to them.

10. Conversion Rate Optimization
Conversion rate optimization (CRO) is an approach in which a firm focuses on increasing the percentage of visitors that take a desired action and ultimately convert into customers. Landing pages are important elements of CRO. Specialized pages that visitors are routed to after they've clicked on a link or an ad, landing pages are typically very focused on a particular product or service. Anyone who is investing in social media, e-mail marketing, pay per click (PPC) or web ads also needs to invest in landing pages.

All of the above tactics tie into one of the most touted terms in the business world: ROI. Increasingly, marketers—like other business professionals—are focusing on tracking the return on their investments. Factoring marketing into a firm's overall ROI tracking can help guide strategies and improve results. By quantifying the achievement of specific goals and targets, ROI helps ensure that campaigns are effective...because what can be measured can be managed.

The new year presents interesting opportunities for AEC firms seeking to engage in authentic dialogue and conversation with customers. The buying process in the construction industry can be very complex and there are learning curves for buyers. Marketers are increasingly focused on facilitating information exchange, enhancing relationships and establishing lines of communication that decrease confusion and increase conversions. These emerging trends present both challenges and opportunities for the AEC marketer.

This article originally appeared in Construction Executive.