Without measurement, there is no gauge to know if you're doing well or not. Golfers, engineers, contractors, architects, retailers, runners, hospitals – all measure what they're doing in order to improve. Guessing or "a gut feeling" just doesn't cut it when they want to improve their performance.
More importantly, none of those professions waits until the end to measure their performance. Golfers measure by the hole and the individual stroke so they know what to improve before they hit the final hole. Architects and engineers measure project completion via defined phases of a project. Retailers measure just about everything and runners measure by the mile, quarter mile, speed out of the block, early performance vs. late-in-the-race performance and so on. They all measure their performance by the phase rather than by a single and final metric of the entire process.
A lot of firms evaluate how many proposals they've submitted and how many they've won. That approach assumes that there is only one measuring point in the process. That point is whether the project is won or lost. However, in AEC sales and marketing, it's possible to parse the process into measurable steps so you can understand what segments require improvement. Why is that important?
Measuring individual phases of the sales and marketing process allows you to make adjustments, during the process, to improve your process, instead of waiting until the very end to see if you've done well!
Where can you start?
1. Define and implement a structured sales and marketing process at your firm
2. Select the key points in your process that you want to regularly measure
3. Implement a data collection process to gather the appropriate information
4. From the data measurements, identify the weak points in the process
5. Make adjustments to improve
Here's a sampling of the points you can measure in your sales and marketing process:
What you can measure, you can improve.
Got questions? Email me at firstname.lastname@example.org
Friday Chow is posted weekly, or thereabouts, to provide you with insights and considerations for AEC sales and marketing. Good stuff to feed your revenue engine!
When you're ready to improve your business development, marketing, and client relations programs, contact Red Hound Studios at email@example.com