gaia, Author at GaiaQ - Page 6 of 56

Why is Content Marketing the Future of Advertising?

While every marketer is quite happy following the traditional path of advertising, sampling and selling, in today’s world where no single person moves without a portable device, it’s important to understand that “Content” is indispensable to marketing. Marketing without content is like the Earth without water. While there is oxygen to survive, without water, there is no sustenance.

So, why is it so important to use content marketing? And what is the significant buzz surrounding it?

What is Content Marketing?

It is the type of marketing that doesn’t explicitly advertise a brand but inspires enough curiosity within the consumer to know more about the brand. It is a personalised form of marketing where the brand is promoted without being completely in-the-face.

Hike in Ad-Blocking

Well, a lot of marketers don’t realise that as of December 2016, Asia Pacific is the largest driver of ad-blocking tools (Mobile Segment), with about 94{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} using ad-blockers on mobile/ portable devices. While the advertisement is one of the major drivers of sales, one can’t overlook the increase in Ad-blocking apps and tools that consumers put to use.

More Traffic

According to stats, a Content marketing leader attracts almosteight times higher website traffic compared to non-leaders. While charisma, networks and good values become the backbone of thebusiness, you can’t overlook the fact that personalised content is always more attractive to the consumer than generalised content.

Higher Engagement

About 56{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of marketers believe that customised content arouses higher engagement rate, according to IBM Digital Experience Survey 2015. It builds better brand recall as the brand connects with the consumer at a personal level and the consumer tends to remember the brand because of a higher engagement score.

Lower Costs

Despite charging around 60{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} less than traditional marketing, Content Marketingcan generate more than triple the leads. This means that there is more output than traditional marketing methods and that too at a lower cost. Content marketing leads to higher savings and bigger margins.

Higher Conversion Rates

About 88{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of B2B marketers use content marketing because of their underlying confidence in it. That’s because content marketing drives higher conversion rates regarding sales via impression and it is about six times as much as their competitors. Content Marketing adopters feel that it is value for money with more leads than traditional platforms.

Increased usage

Content marketing has become so indispensable for major organisations that now about 73{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} organisations hire employees or outsource their content marketing strategy to generate leads and sales.

The Key Take-Away

While traditional marketing efforts are important for business, one needs to understand the importance of content marketing in a world filled with busy lifestyles and short attention spans. The median time that a person now spends on an article online is about 37 seconds. Therefore to make those 37 seconds worthwhile, an effective content marketing strategy shall be employed.

Primary Keyword

Content Marketing

Lenders in the Millennial Temple: Revolutionizing Mortgages in the Digital Age

Just a few brief decades ago, almost no one had internet access. Now, the internet has fully invaded every industry, and housing mortgages are no exception.

The housing market has struggled in grabbing the new millennial consumer audience. Research shows that, largely due to the emergence of the sharing economy and changing generational values, young people are not buying homes or cars.

Compared to their parents’ generation, hardly any millennials plan on buying a home in the next decade. Mortgage rates are low, and employment rates are high, but it is simply not a priority for many.

How are mortgage companies capturing millennial audiences?

Instead of trying to rope in young audiences with expansive ad campaigns or through rate incentives, some mortgage companies are taking a different approach. Instead of getting the customer to come to them, they are picking up their businesses and taking it to the customer. And where else could millennials be but – you guessed it – the internet.

It is widely known that millennials essentially live on the internet. They conduct much of their public and private business online. They are the children of the internet age – the expectation is that information on products (in this case, homes) will be readily available, easily accessible and accurate.

Information Access is the key appeal for younger generations

Companies like Zillow, Redfin, and Realtor.com operate well-interfaced real estate search engines that cater to young people’s preference for finding information online rather than heading to an office or hiring a real estate agent.

This online search capability gives a sense of power to the buyer, as they feel they have more control over their finances and future when they are secure that they have accurate information and are not being exploited by a salesperson.

Online mortgages have also entirely changed the lending market. By moving from banks to the web, more peoplecan take out mortgages and gather information about the best rates applicable to them.

Most millennials want to do as much of the homebuying process as possible by themselves, but eventually many also want the affirmation of a real, expert agent. Therefore, even though mortgages are being steadily shifted into the online world, it can never quite push out the importance of loan agents and realtors.

There are plenty of benefits to online mortgage boom, but some negative impacts as well

Online mortgages are often acquired at the lowest possible rates, but without the help of an expert to walk you through the entire process and regulations.

This could actually lead to additional costs down the line due to a lack of understanding of the terms of a mortgage.

However, current technology has made us biased towards the belief that most large purchases can be made very quickly, an aspect where online mortgages have a huge advantage over traditional ones.

Advisory HQ published their recent list of the best-rated online mortgage companies, including:

-Quickenloans
-AmeriSave
-LendingTree
-Sebonic Financial

These companies all have a few things in common which determine online lenders’ success:
-Understandable online interface
-Customizable products
-Low rates
-Fast turnover

The Face of Digital Disruption in the Mortgage Industry – Roadblocks and High Points

The industry is bursting with digital disruptions across verticals, whether its taxi services, accommodation providers or cinemas. Smart players who have spearheaded the digital revolution have done so by single-mindedly caring for the customer experience, as opposed to the resources fed into their service delivery.

How about the mortgage industry then? How far are we from crossing thisdigital chasm?

Key Roadblocks in Digitally Disrupting the Mortgage Landscape

Caring about your customers can profoundly control the extent and degree of innovation and eventual transformation for revolutionary market domination.But there is more to the mortgage industry,and it seems to lag behind. There are obvious reasons, inhibiting a welcome change:

Regulatory complianceis hard to traverse and mainly creates roadblocks in the way of innovation.
Complexities in mortgage products make them more costly and harder to convert into revenue generators.

Customer Experience is Still the Single Most Important Piece of Mortgage Processing

Here’s what’s preventing an excellent customer experience when it comes to mortgage products:

Customers find mortgage products and getting to their core featurescomplex, and determining the value they provide is a tough task for the average consumer.
When applying for a mortgage loan, they might want to take advantage of professional advice to exercise their best possible choices.

The attitude of innovation in the mortgage mindset itself has to undergo a drastic change, to unleash the right degree of force for digital disruption.

Traditional processes, underlying complications, the regulatory maze and most importantly, acceptance for the digital drive weighs you down considerably.

If you are in the mortgage space and creating a haven for your customers, then you are at your best by rolling out a plan that will care of the following:

The best digital and mobile experience on par with parallel industry verticals
An effective no-hassle plan to handle financial documents
Secure end-to-end processes with best in the industry security standards, audit and encryption mechanisms
High priority customer experience and an effectively guided path through your workflow

How Far Can You Get with Mortgage Digitization?

Digital technology can profoundly influence the mortgage process. You might empower the consumer by simplifying the mortgage process considerably, so your consumer feels empowered.

When getting your reliable and scalable product in the market, allowing your consumers to compare available options and getting through with the help of a pre-qualification tool and online application increases your efficiency.

Security is one of the most important aspects of the mortgage transaction and instils customer confidence. Encapsulating your digitization with the help of enterprise-grade technology helps effectively position your product on a global scale.

Competitive lenders must ensure that their technology solution must be extensible and flexible. Also, you must be easily able to configure technology for changing lending scenarios.

The digital world is pushing lenders to embrace digitization that matters to their consumers. Therefore, those who deploy meaningful solutions that create unmatched customer experiences are here to stay.

Digital Marketing and Mortgages in 2016

Online and digital marketing services are in a grand and exciting flux with things like dynamic marketing becoming more flexible and sophisticated. In the mortgage market, typically skewed towards traditional methods, with banks retaining large parts of the markets, digital presence of mortgage lenders is changing the scenario.

Non-bank and digital mortgage servicing is a hit for a very obvious reason, which is that they are customer-friendly. The tech is often marketed as customer-friendly too, proving that there is a real need.

Unlike banks which are traditionally uncomfortable for those who want to borrow money, digital services can seem like a nonjudgmental space for those looking for the best deal. All the information can be accessed from home or in a comfortable atmosphere.

Some digital mortgage services that are gaining in popularity include:

Digital Application Takers

Digitizing the application process leads to a situation where borrowers can access all the information and track the progress of their mortgage application. The borrower gains power by being able to keep track of the various steps in the digital mortgage process without extra work.

This streamlines the process for lenders as well, since much of the communication happens online, in a traceable way. The discussion and processing can happen almost simultaneously with digital mortgage applications once the borrower has made their decisions.

There is no missing paperwork problem to worry about and with a visible list of required documents; borrowers can handle the document check without issue.

Home Market Research

Want to buy a home? There’s an app for that too!

Apps and online marketplaces for home buying is a huge hit. And why not? You can:

Compare the lists of pros and cons of your favorite places right on the screen.
Customers can ‘window-shop’ for houses or apartments without going to a real estate dealer.
The site may often have listings not available anywhere else
They may help with finding agents or other additional matters. On a site, you can read reviews and select from a lot of options.

Pre-Approval

Pre-approval apps get realtors and loan officers to digitize their process. They promise to remove the repetitive and redundant aspects of the work and promote customer engagement.

Dealing with digital risk mortgage problems becomes easier when the mundane tasks are taken care of by software.

Lenders can see results faster when loan officers can focus on customers who are more serious and engaged. This is also helped by pre-approval websites which promise to help with helping them provide customers what they want.

The other way that mortgages have become digitized is the ‘all in one’ solution method. This is where a digital mortgage marketplace has been built up.

There are quite a few lenders who are now jumping on this bandwagon. Going for an online mortgage can allow for several antiquated systems to be left behind. There are applications where the borrower can directly share their financial information with the mortgage application to remove the hassle of doing and redoing the financial paperwork.

With digital mortgage companies and a streamlined one-stop process, borrowers get approval faster than they could otherwise have hoped and lenders and loan officers can get results faster as well. Finding affordable mortgage solutions is much easier with the digital mortgage services.

LSI Keywords: digital mortgage, Digital mortgage applications, digital mortgage process, digital risk mortgage, online mortgage, digital mortgage companies, digital mortgage services

References:

http://www.pwc.com/us/en/consumer-finance/digital-mortgage-streamlining-borrower-experience.html

http://www.zillow.com/blog/can-mortgage-process-be-digital-191267/

https://www.cml.org.uk/events/digital-innovation-in-the-mortgage-market-395/

Here’s Why Customer Onboarding is More Than Just Customer Acquisition

Customer Acquisition is essentially gaining new customers which involves convincing consumers to buy a company’s products and services.

Customer onboarding is a phrase used to describe the method users go through from the beginning of the journey to becoming a customer and beyond it. While both are interrelated customer onboarding goes a lot further than customer acquisition.

Customer Acquisition

Customer acquisition management points to the methodologies and systems used for handling customer potential and inquiries. Many marketing methods generate them, which need strategy and forethought. The process:

Potential customers are identified through mailing lists and call centres. Consumers and businesses who already use or show an interest in similar products to those of your business are determined.
Companies assess the needs further, using research methods. If the prospect of getting this new customer seems viable, his status is elevated, and he is assigned to a salesperson.
Most customer acquisition programs then involve establishing an association with potential consumers to determine their need and how the offered products relate to those needs.
Staff will attempt to ascertain unstated needs determined by interactions and continuing conversations with the prospects.

Word of Mouth – For Customer Acquisition
Word of Mouth (W.O.M.) continues to be the most successful marketing channel

for acquiring new customers and leads. In a Bright Local survey, 28{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of participants indicated that W.O.M. is the most effective of 12 online and offline channels. The next three most effective were online marketing channels. SEO is the most successful marketing channel according to 1 in 5 respondents. 15{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} cited online local directories and 10{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} email marketing. Word of Mouth is still the most frequently cited expressions in marketing.

Customer Onboarding

Successful customer onboarding results in your customers becoming enthusiastic about your product or service. It gives the consumers useful information and engagement to ensure they get the most from their purchases.

Some advantages are:

Revenue – If your customers are onboard, they will stay with your product or service and continue doing business with you. This will improve total conversions and lessen customer acquisition costs.
Recurrent Business – It’s a considerable loss to lose regular revenue when you have secured a customer. Customers who have gone through a robust “out-boarding” process are more likely to stay with you.

20{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of existing customers can contribute to 80{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of a corporation’s future income (Gartner Group). However, research has shown that most B2B companies allocate only 20{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of promotion efforts towards retaining customers.

Word of Mouth – Your customer’s experience successful outcomes with your product or service and are happy with the quality thereof. They’ll want to speak to their contacts about you.

More than 92{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of consumers base their purchase choices on peer reviews. Word of mouth is promoting, and referrals can direct serious revenue to your business.

Reduced Customer Service Load – Your customers are better educated on gaining success from your product or service. They are less likely to have issues in the early adoption stages.

All Your Teams Can Be Involved in Customer Onboarding

It involves:

Marketing
Customer Service.
Technical Support.
Sales and Account Management.

Customer Onboarding is a more intensive and a longer process than the initial customer acquisition. It also involves all the teams in the business. Digital Customer Onboarding is a top priority for 2017 according to 80{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of 200 attendees in a recent Digital Account Openings webcast.

Primary Keyword: Customer Onboarding.

Secondary Keywords: Customer Acquisition, potential customers, word of mouth, recurrent business, revenue, research methods, future revenue.

Working Capital For Industries That Never Stop Working?

Working capital is something no industry can do without at some point or the other.

A primary measure of the Working Capital is Working Capital per revenue, defined as the measure of working capital required to generate one unit of sales.

Electronics and electrical component manufacturing firms show themselves to be in the top 100 users of working capital for the past decade consistently. These industries alone account for close to 5{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of working capital users in the US.

They also show favorable ROI almost across the board and on average required <20{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of Working capital per sales unit, as calculated by NYU Stern as of January 2018, (343 firms out of 7247 surveyed across all industries).

But it’s requirement and effects are probably best demonstrated in the electronics and electrical components industries for the following reasons:

Endless Applications and Users

Take a look around your living room, office or even your car.

Almost anything you see from your lights and wireless routers to your TV and computers is made out of hundreds of individual components. On a larger scale, these can have up to thousands of electrical components, from aim-assist and target acquisition on a tank to geological cameras and horizon scaling imaging devices on weather satellites.

We often only see this larger picture since the constituent elements are so varied and complex in their own right.

Vast Inventory Catalogue

Everything from solenoids to start cars, a circuit board for a transformer to RAM chips for your computer are likely to be manufactured, imported and sold by local and major electrical concerns in varying amounts.

Where the complication arises is – these aren’t always on an order-basis, that is, they need to maintain minimum stocks of these at all times. Otherwise, they risk ending up with the unsold inventory at the end of the lifetime of the product – especially in an industry so fast-moving.

PWC has also attributed the noticeable increase in Net Working Capital (NWC) in the electronics sector (the first since the 2008 market crisis) to these same industry conditions as per a 2015 report.

Lucrative Options For Small To Mid-Tier Firms

With a varied catalog of services ranging from flexible tenure and repayment options to EMI-based loans, working capital loans ensure that even a small to medium-sized business can maintain essential inventory while continuing to innovate in this rapidly-evolving, competitive industry.

With firms like Flexiloans and ICICI offering benefits like low one-time processing fees and zero collateral options, emerging companies, and established concerns are further incentivized to pursue a working capital loan from such institutions.

As per David Clayton of BlueVine Capital Inc., Working Capital is absolutely essential to growth for new firms of firms in the small to mid-tier, especially if they are going up against much larger, established concerns.

Fast-Paced Industry

Studies show that instead of making better phones that last longer, the industry is edging towards revolutionary new products that consumers, casual or “techie,” upgrade almost annually.

This could range from your smartphone and wearables to even your laptop – updated on average, every 3-5 years in the US for even casual users.

Smartphones see annual updates amongst large segments of their user base, the best example of them being Apple’s iPhones. As per a PEW research poll, 96 percent of American adults lacking broadband at home are still smartphone users, showing proving the market is continuing to skyrocket despite lacking infrastructure for broadband and wireless.

Great Option For Component Manufacturers

Another good example is the specialized materials and cabling infrastructure in the new routers you’ll need to support high internet speeds. These can go over 1 GB/second and are making their way into developing markets as well.

With revolutionary new technology from the advent of fingerprint sensor-unlock to Apple’s new FaceID, manufacturers constantly have to update their stocks of components and materials.

Specialized Raw Materials and Parts

Speaking of Apple, did you know that your average iPhone contains fractions of a gram each of palladium, silver, and platinum? This isn’t even taking into account the sapphire crystals on its cameras (the newer models have two lenses at that, so double the sapphire).

Balancing efficient inventory (all/mostly sold before becoming outdated or downright obsolete) and efficient supply chains is difficult. Especially in the electronics industry with such specific and often expensive parts that can be hard to source.

Ideal Users?

This is one of the primary reasons electronics and electrical companies are ideal candidates to apply for working capital loans.

Especially since constantly updating inventory, maintaining spares and older parts for repairs and managing a company of any scale – particularly start-ups, can be expensive.

More importantly, the need for capital is often more specific and inconsistent than say, construction or legal firms, where financing requirements are usually more predictable.

LSI Keywords used: Working Capital, electronics and electrical companies, revolutionary new technology, Specialized Raw Materials and Parts

The Need For Working Capital Loans By The Electricals And Electronics Businesses

A strong and secure capital is the foundation of any good business. Small to medium scale businesses should be especially careful about their working capitals and where they acquire it from.

Loaning working capitals has recently been appreciatingly welcomed in the market, especially by SMEs including electricals and electronics businesses.

Why Do You Need A Working Capital Loan?

Loaned working capital can effectively eliminate problems of regular cash flow
Businesses have recorded increased profits and greater sales margins
The credit limit for loaning out working capital to SMEs is relatively higher, with a lower interest rate
Many loan providers provide customized working capital loans to specific ventures such as electronic and electrical market which allows features like collateral-free terms

Management Of Working Capital For Electrical and Electronics Market

Like any other business, the electronics and electrical businesses need to source their capital from various places. Along with that, methodical management of finances is a necessary driving force for the success of any venture.

Working capital loans or liquidity loans are mainly categorized as:

Short-term liquidity loans: these last for a minimum period of three months to less than one year. Short-term working capital loans mainly function as turnover funds.
Medium-term Working Capital loans: with a loaned period of 1-3 years, these funds are primarily used as turnover funds for day-to-day production and operation in a company.

Most electronic and electrical businesses depend on initial bulk capital, profits, and fixed assets for the functioning of the business. But what you must keep in mind is that this field of business is a day-to-day affair which requires regular sourcing of cash. In such a scenario, working capital loans tend to benefit an SME business owner to a great extent.

Understanding Working Capital Loans

A Working Capital loan is the capital your company requires for short-term goals and investments. The company’s assets and liabilities that hold for a short-term count as its working capital.

For example, if your electronics company requires several bills to be written every day, a billing machine would be a better alternative to save money and time. The acquisition of a billing machine would thus require working capital.

Loaning Working Capital will not only ensure that your businesses run smooth but will also allow you the repayment of short-term debts and fulfilment of current expenses. Management of inventories, short-term assets and liabilities, and payable accounts is of utmost importance while running the company on working capital.

Working Capital Loans For Small Businesses

While working capital can serve the needs of large-scale ventures, small and medium scale businesses have markedly performed well in the market with a loaned working capital. The only difference is their market footprint size. Businesses that deal in electronics, electrical appliances, hardware appliances can greatly benefit with loaned working capital. Retail business also requires regular cash flow and will perform excellently well with loaned working capital.

There are many banks both private and public that provide businesses with working capital loans. The ICICI Bank Working Capital Finance, HDFC Working Capital Finance, and the Channel Financing Program by YES Bank are some well-known working capital schemes amongst Small to Medium Scale Business owners.

The HDFC Working Capital Finance provides capital regarding cash credit, letter of credit, and term loan. All in all, if your business requires regular cash flow, availing Working Capital might be a good option for you.

LSI Words: Loaning working capitals, electricals and electronics businesses, Why Do You Need A Working Capital Loan, loaned working capital, customized working capital loans, Management of inventories, short-term assets and liabilities, repayment of short-term, Loaning a working capital, Working Capital Loans For Small Businesses, loaned working capita

The Need For Working Capital Loans By The Electricals And Electronics Businesses

Building and running a business isn’t an easy job to do, and those brave enough to venture into entrepreneurship face a multitude of problems every day. One of the prime problems faced by business owners is the requirement of capital and dearth thereof.

That is where business loans (or working capital loans) come to the rescue of business owners, and there are a variety of ways in which businesses, especially those dealing with electricals and electronics.

Constructing Advanced Infrastructure

Working capital provided to electricals and electronics businesses enable them to build offices and infrastructure that can aid the smooth functioning of the same. For example, using funds from working capital, the business owners can build better workstations for workers, better offices for other employees and improve the overall environment of the workspace that could directly result in improved productivity.

Hire Competent and Skilled Workmen

Running a successful business requires having an efficient workforce. This becomes truer still for electricals and electronics businesses due to their critical relationship with the safety of the workers involved in their manufacturing as well as the customers who buy such products. Working capital loans allow employers to hire skilled workers and employees, without any financial constraints.

Purchase State-Of-The-Art Machinery For Manufacturing Purposes

Working capital provides business owners to invest in technologically advanced machinery and equipment that workers can utilize to increase productivity and produce a quality product. Equipment and machinery pertaining to the latest technology increases the quality of the product, which in turn helps the business grow due to the positive feedback provided by the target customers.

Better Preparedness

Working capital helps business owners be slightly better prepared for any and all unforeseen circumstance that may arise in the future. Such circumstances may include any emergency payments that may need to be made to employees, and any expense relating to repair of machinery, upgrade of machinery and the like.

Support for Transactions

Businesses require cash in hand for several transactions that they deal with on a daily basis and not all of which can be settled through online mode of payment. Working capital provides owners of such businesses with cash in hand that they can use to settle regular payments with workers, raw material providers/ service providers, and customers.

While over 80{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of loan requests from small businesses are currently not approved due to their inability to provide collateral, companies like Flexiloans come to their rescue in such situations.

Speculation Opportunities

Working capital also helps business owners widen their horizon by providing them with enough money to invest in other opportunities that may help expand their business reach. Such expenses include the purchase of new stock of products, investing capital in the production of other products apart from the usual products manufactured by them. Flexiloans also offers a line of credit facility, which allows clients to withdraw money as and when they require them.

Working capital loans help business owners to invest in better quality raw materials for their products, which not only improves the overall quality of the product but also improves the safety quotient associated with the same. It results in improvement in customer satisfaction, and of course, positively impacts the business.

LSI keywords: electricals and electronics business, business owners, working capital, working capital loans

Rapid Urbanization Leading To Demand Growth In Steel Detailing Market

With the construction of skyscrapers and iconic structures mushrooming around the world, employing large quantities of steel in developments has been a rising trend seen in the densely populated developed cities. Currently, over 50{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of world’s steel production is used in construction.

Moreover, as the global population is expected to reach 8.6 billion in 2030 and 9.8 billion in 2050 along with rapid growth in urbanization, the demand for buildings and infrastructure will rise globally. Building high-rise towers is one of the solutions that most nations are adopting to address the future need for housing.

Also, since buildings are reported to be responsible for around 20{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of global greenhouse gas emissions, the need to minimize consumption of natural resources is becoming vital for future sustainability.

Constructing sustainable, as well as extraordinary structures have become a norm in most metropolises, who want to set them apart from the rest. The world’s marvel structures like The Eiffel Tower – Paris, The Brooklyn Bridge -New York, Burj Khalifa -Dubai, Taipei 101 in Taiwan and numerous other projects across the globe are erected using tons of steel that provides design flexibility and the endurance to a structure. Steel is recognized as a green product for been wholly recyclable, and its ease of maintenance makes it an attractive building material.

Steel is strong enough to resist any damage caused by natural disasters including tornadoes, hurricanes, and earthquakes. It is also preferred the choice of the architects who get more flexibility in designing buildings and homes, creating more great spaces with steel.

Hence, both in the developing and developed nations, there is a significant growth potential for use steel in construction and manufacturing. This, in turn, provides steel detailing companies to become an essential part of the sustainable construction solutions, enabling development of low-carbon-neutral buildings.

Steel Detailing Aids In Development Of Engineered Steel Structures

With the high-paced growth in the development of incredibly engineered steel structures, the field of structural steel detailing services is becoming technologically innovative, thus performing the job more efficiently and cost-effectively.

Structural steel detailing is divided into two parts: first is the structural steel shop drawings or detail drawings that provide all information necessary for the steel fabrication process. It includes information like materials used, component sizes, dimensions and all other information concerning to the fabrication of each component.

The second is about the erecting drawings consisting details about erection and fitting of the steel components, i.e., information about the position of each part, the requirements for installing them, and all the associated field works.

Another essential area of steel detailing services is steel design, connectivity diagrams areas, anchor setting plans, shop bolt summary, BoM (Bill of Materials), and more.

With all the essential detailing information provided beforehand for standard sections, steel bolts, and welds, etc., the builders can then picture their proposed steel building structure and build up efficient construction systems.

Technology Driven Steel Detailing

The development of steel structures is done under controlled industrial processes. With the advancements in software technology such as computer-aided design (CAD), steel detailing and the structural design that was earlier completed manually with hand drawings is now prepared using software, making the task easier, quicker and very proficient. Use of mechanical aid as part of its structural design has made the transition from imagination to reality was quite beneficial.

Structural Steel Detailing Facilitates Flawless Developments

Steel detailing services furnish a precise image of each structural element, its position, connections with other parts and exact dimensions, thus being instrumental in proper assembly and flawless development, which is a growing need in the urban communities.

Pre-engineering of steel structures makes these constructions affordable and low-cost. It also allows measuring the longevity of a project, taking into account the physical, environmental and economic factors before the actual engineering is done.

The construction industry across the world has thus seen a surge in steel detailing companies that offer expert and experienced engineers for accurate and cost-effective detailing services.

Tekla Steel Detailing Enhances Works Performance

While traditional detailing methods have been supporting the industry over several years, the visual representation of structures through the BIM (Building Information Modeling), intelligent 3D model-based detailing software such as Tekla Steel Detailing has made the process of erecting buildings more accurate, reducing the likelihood of errors.

Therefore, city developers are increasingly looking at enhancing their structural steel detailing process using 3D modeling programs that reduce the chances of costly surprises and reworks, permitting total process optimization, ensuring that delivery is error free and on time.

Thus, the structural steel detailers using the advanced 3D detailing and modeling options assist the engineers, fabricators, constructors, and builders across the construction process, as it is impossible to build any structure without using detailed drawings, reports and plans that illustrate various phases of the construction process.

Steel Detailing Challenges

The primary challenge for the industry stakeholders is that 3D modeling software programs costs/training is higher and the process is far more complicated – so it requires specialized expertise.

Therefore, only an expert steel detailer that knows about the various types of steels and materials and architectural details will be capable of giving accurate information.

This makes the presence of high-quality steel detailing companies a vital part for any urban city development across the world, for they aid in planning city’s buildings and model structures like flyovers, bridges and various other types of buildings residential and commercial buildings, factories with the highest level of precision.

LSI Keywords: steel detailing, structural steel detailing, steel detailing companies, tekla steel detailing, Steel structures, 3D modelling software programs, 3D modelling programs, 3D detailing, steel detailing, structural design, steel fabrication process

The Steel Detailer – The Foundation Upon Which Structures Are Built

Real estate is one of the biggest and most lucrative industries currently, what with the need for individuals/groups to find a space of their own in today’s ever-expanding world.

By extension, construction has also become a big part of this process, and such is the demand to complete high-end work in today’s world that different agencies are willing to bid the highest amount for a particular project. This means that construction firms now play a vital role in ensuring that building of any structure goes off smoothly, sans hitches or incidents.

This, in turn, means the need for experienced and smart project managers, structural engineers and architects has become highly important. However, the most important task arguably is that of the steel detailers’, who take inputs from both the engineers and architects to make a blueprint of how the structure should be built – inside out. This process is known as steel detailing, and this is what we will take a closer look at here.

Such has been the impact of the real estate industry that it contributes to almost 4 percent of the total world output, with the total global property value coming up to $217 trillion by 2015 end. 75 percent of this is made up of residential property. For those interested, the world economy had a Gross Domestic Product output of $80 trillion in the same timeframe.

In the Indian context, the real estate domain is the 2nd largest employer after agriculture and is scheduled to develop exponentially over the next ten years approximately. The real estate market of Indian is projected to reach $180 billion by the year 2020. The housing sector itself forms around 6 percent of the country’s GDP.

Know The Work

To begin with, let’s have a look at two of the key terms here: steel detailing and steel fabricator. A steel fabricator is a company that provides – and at times installs – steel foundations for any construction project.

Steel detailing is the process where a person, known as a steel detailer, makes shop drawings for the steel fabricator. Shop drawings are a set of drawings or a kind of blueprint which shows how the steel members have to be erected to get the best possible shape and stability for the structure being constructed.

Based on the steel detailers’ drawings, the fabricator will cut and weld the members together. Along with this, the detailer will also generate instructions for layout which will aid in building and put together the steel skeleton.

Number crunch: In the US, ironworkers (those who install and reinforce iron and steel to form the structure’s skeleton) are paid substantial salaries for their work. According to the country’s Bureau of Labour Statistics, ironworkers’ median pay is $50,830 per year, and $24.44 per hour, for 2016. There were around 90,300 such ironworkers who were employed in 2016.

Did you know: Structural engineering dates back to around 2,700 BC in Egypt, with the construction of a step pyramid by Imhotep, the chancellor to pharaoh Djoser. However, the oldest structures in the world are the Megalithic Temples of Malta, a group of temples even older than the great pyramids of Egypt or the Stonehenge in England.

Why The Steel Detailer Is So Crucial

The detailer is so crucial to how the overall project shapes up. Having to combine the design of the architect and calculations for size and locations of the steel by the engineer is not easy, and slight deviations can lead to stumbles in how the structure finally looks. The steel detailer needs to be aware of the guidelines and norms of all aspects regarding construction so that the structural steel detailing can be made according to the common standards followed. A good detailer should be able to make even the most difficult of projects conceivable within the given budgets and timeframe.

Did you know: The average pay for a steel detailer per hour is $19.75, while total pay can range from $30,000 to $70,000!

Why Is Steel Detailing Now In High Demand?

Anyone who has followed the developments around the world recently will know that construction is a growing field, what with the worldwide population heading towards a “population explosion”, this means that both residential and commercial complexes need to be constructed every other day. There is no lack of construction work around the world, but each country will have its own sets of challenges and regulations to work around.

This is where a good steel detailer, who knows his/her way around a construction site and can communicate clearly with the various people he has/she to work with (engineers, architects, contractors, fabricators) as to what is the best way to move forward with the project.

While there is no shortage of steel detailing companies around the globe, finding a detailer who can provide quality and clarity is not easy. Of course, this is not to say that the detailer is the be all and end all when it comes to construction of a structure.

But someone who is good at the job can be a big difference between extra costs or losses incurred and making optimum use of available resources to come up with the best structure possible.

Know the union: Most developed countries have trade unions, which include those working in the construction field. These unions take care of demands, requirements, wellbeing and safety of workers.

Technology Cutting Off Detailers

Many companies have started making use of technology to aid detailers in coming up with the best models for a structure. In fact, nowadays, they are doing away with detailers, instead focusing on using the accurate virtual models that are prepared by machines. All that is to be done is feed in details of the construction site and structure, and an accurate blueprint is brought out by computers.

For example, the Tekla steel detailing model has been a big success, thanks to the BIM (Building Information Modeling) technology that is used by the company. This form helps reduce fabrication errors and minimizes the need for rework.

Technology has made its presence in many fields in today’s world, be it sports, finance, politics or human resources, and it wouldn’t be a surprise if the construction field embraces its use shortly. Until then, combining the best quality of steel, the best manpower, the best engineers and architects and detailers can help contractors and fabricators come up with the best structures.

Some of the software used for steel detailing are:

Bocad by AVEVA
Advance Steel by Autodesk
ProSteel by Bentley Systems
Tekla Structures by Trimble Navigation
TecnoMETAL by Steel&Graphics
SDS/2 by Design Data
Soft Steel
SSDCP
SOLIDWORKS
TSD (The Steel Detailer)

Primary Keywords: steel detailing, structural steel detailing, steel detailing companies, Tekla steel detailing

LSI Keywords: real estate, construction, project, project managers, structural engineers, architects, steel detailers, blueprint, steel fabricator, steel foundation, shop drawings, steel members, cut and weld, steel skeleton, common standards, technology, virtual models, fabrication errors

Author: gaia

Why is Content Marketing the Future of Advertising?

Lenders in the Millennial Temple: Revolutionizing Mortgages in the Digital Age

The Face of Digital Disruption in the Mortgage Industry – Roadblocks and High Points

Digital Marketing and Mortgages in 2016

Here’s Why Customer Onboarding is More Than Just Customer Acquisition

Working Capital For Industries That Never Stop Working?

The Need For Working Capital Loans By The Electricals And Electronics Businesses

The Need For Working Capital Loans By The Electricals And Electronics Businesses

Rapid Urbanization Leading To Demand Growth In Steel Detailing Market

The Steel Detailer – The Foundation Upon Which Structures Are Built

Would you like to explore Gaia's brands?