How many times have you heard that statement? So often, it seems, the AEC industry approaches revenue generation from an experimental viewpoint. Does it really need to be that way?
Last week, we talked about structure and introduced the three AEC revenue generators. Now, that you're thinking about structure and the inter-relationships among marketing, business development, and client relations, it's time to stop experimenting and strap on some proven, repeatable processes to your revenue generation.
When you use proven, repeatable processes, it takes individual preferences and trial guesses out of the picture. It also means the process can be used by more than one individual and is trainable to others. No more "I have some ideas of how to do things" or "let's try this idea and see how it works." Those shots in the dark of what works and what doesn't are replaced with proven strategies and processes.
Consider it this way:
So why have defined processes?
When people use proven, repeatable processes, the predictability of the outcome increases. That's why Fortune 500 companies and so many other successful firms, whether they're in the AEC industry or not, have proven, repeatable processes for almost all aspects of their operations. The processes work!
What functions in your firm's revenue generation should have formalized processes?
Every firm will be a bit different, but below is a sampling of a few proven processes to consider incorporating into your Integrated Revenue Generation℠ program. Some probably already exist in your firm. If they do, ask your team, "How can these processes be improved so everyone knows about them, understands them, and can successfully implement them on a repeated basis?"
Here, again, is the Three Key Revenue Generators infographic from last week for your reference.
Marketing Component of Integrated Revenue Generation℠
Align, Research, Integrate
Business Development Component of Integrated Revenue Generation℠
The biggest, overall process that your entire revenue generation team should know is your firm's proven business development process. Everyone should understand the multiple doors through which a lead can enter your firm. And, they must know how that lead is to be handled when it enters the firm and throughout its life within your firm. That's a tall order, but one we'll be introducing in the coming months as part of introducing Red Hound Studios' Integrated Revenue Generation℠ program.
Within the Business Development component of your revenue generation, here are some processes to consider:
And, last, but not least, some process ideas for your Client Relations program:
Client Relations Component of Integrated Revenue Generation℠
PS You know what's really interesting?? When there's a failure in a process, around 80% of the time, it's in the process and not the people, per Paul Selden, author of Sales Process Engineering. So, stop wringing your hands about staff failures for problems that are built into the system, not the people..
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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