The big focus in bringing in revenue seems to always fall onto proposals and interviews. We HAVE TO WIN is the mantra that runs up and down the halls of most firms. But, why put yourself in a do-or-die position every day?
It doesn't have to be that way if you're paying attention to ALL your sources of revenue. Wouldn't it be great to not have to chase everything that moves? To minimize the valleys of not having enough work? To capture more market share? To have more control of your firm's future?
Put your attention to all of your revenue generation drivers. Pull effectiveness from those three drivers by integrating their activities. Then, define, plan, and successfully implement a cohesive program to move your firm forward while measuring performance and continually making improvements.
Your Three Revenue Drivers
Marketing gets short shrift in most firms. There continues to be the idea that marketing doesn't really affect the bottom line in the AEC industry. H-m-m-m-m. I've had that said to me, in various forms, and each time, those individuals had to change their minds as revenues increased beyond expectations after implementing a focused, long-term integrated marketing program. Do you have that kind of program in place? Is it a strong program that:
2. Business Development
Business development gets the attention in the industry, yet it's the most expensive component of revenue generation and the one with the most uncontrollable variables that affect outcome. If your firm is only in business development mode all the time, it means you're chasing leads instead of developing opportunities. It means you're stuck trying to build relationships at the last minute and guessing at what the issues of the pending project are while cobbling together a team and proposal that might win. A strong BD program:
3. Client Relations
This last item, client relations, is the one that stumps me, over and over again. Firms tout their "repeat business" stats, but, so often, give little attention (or resources) to client relations. This is money in your hand and, so often, you only need to close your fingers to capture it. Separate from planning, designing, and constructing a successful project, a strong Client Relations program:
Do you have a complete revenue generation program that systematically derives full value from your entire revenue generation supply chain?
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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 firstname.lastname@example.org