It’s so interesting to watch what happens when you shine the light on something. Everyone runs over to the lighted spot and pours all their energy into improving that issue. In AEC BD and marketing, the light is continuously shone on proposals and interviews. For so many firms, that’s the only point of measurement and that is where most everyone runs to when revenues start to slide. How about getting everyone to run to other key performance indicators (KPI’s) to improve the behavior and performance that can affect your bottom line? So, what do you want to improve?
More opportunities to submit on?
Shine the light on the quantity of opportunities you have in your bucket at any one time PLUS the other accounts in your bucket you’re teeing up for future work. If you’re only pursuing current opportunities (leads) and not setting up your future opportunities, you’ll be chasing those leads from now until forever. Doesn’t sound like much fun!
Larger average project size?
Shine the light on your Preferred Client Profile. Huh? A Preferred Client Profile defines the optimal high-value client that best fits your firm’s operational capabilities, culture, goals, etc. Thus, you’re shining the light on the types, sizes, quality of the projects you’re pursuing. Better quality of account per your standards can equate to better project size.
More repeat & referred work?
Shine the light on your client relations. Train your seller-doers in your firm’s client relations program and bring that topic forward on a regular basis. Coach them on how to obtain repeat and referred work, follow-up with them on their pursuits, and embed quality service delivery into your firm’s culture.
Improve your short list rate?
Some firms ignore the short list rate KPI, but, they do so at their own peril. The short list KPI reflects a different behavior / performance than the win rate does. If you’re struggling to get short listed, shine the light on the quality and quantity of upfront legwork being done on the projects you’re pursuing. The more upfront work done going into a proposal, the better your proposal should be (as long as a team knows what goes into a great, winning proposal). If you’re sending out boilerplate most of the time and / or submitting at the last minute without any upfront project knowledge, don’t count on a strong short list KPI.
Shining the light can apply to all kinds of behavior at your firm. Want to improve performance? Find the behavior, process, system, etc. that you want to improve and shine that big old spotlight on it. Everyone will start paying greater attention to it.
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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