Vertical Analysis: Construction, Home Services & Real Estate

Construction, Home Services & Real Estate together represent more than $4 trillion of annual economic activity in the US, roughly 15% of GDP. The slides below offer a closer look at this consolidated vertical segment of our survey data.

A significant percentage these respondents express issues, perspectives and objectives that are generally consistent with the overall survey sample. Yet there are some key differences, including the following:

• Hiring and employee retention are bigger challenges for these businesses than the overall group
• The owner/operator is more likely to be the sole arbiter for marketing and software decisions
• Traditional media is their #1 marketing channel; they're also more focused on reputation management than others
• Their software priorities are 1) Payroll and HR, 2) Accounting and invoicing, 3) CRM and they're less satisfied with their software than others
• They spend less monthly on software today than others today but plan to increase spending over the next 12 months
• In buying SaaS/technology, they're more likely to be influenced by more direct connections and real people than digital marketing or online channels
• They're more interested in a free trial than B2B reviews or strong customer support
• They have an upbeat view of AI but less likely to be current users. And a higher percentage (than overall) believe AI will have "little or no impact" on their industries