Review your mid-year marketing goals and steer toward improvements
Midyear is the perfect time to review your AEC firm's marketing plan. Score your successes, log your failures, and steer toward improvement. Here are four questions that will help make the year’s final stretch successful.
Is your plan quantitative?
Take the time to make your marketing goals measurable. For example, when writing your AEC marketing plan, set quantifiable goals for each marketing task; e.g., number of client calls, number of tradeshows, number of direct mail pieces, etc.
Are you on track to meet your annual fee goal?
This number should be evaluated on a regular basis by market sector. Redirect your marketing efforts if needed. For example, if 15% of your work is expected to come from the healthcare market sector, are you on track to meet that goal?
What is your short-list and capture hit rate?
Realize that if your hit rate is 30%, you are losing 70% of your marketing efforts and dollars. Set your sights high. A 75% hit rate or higher is achievable by strategizing your pursuits.
Do you know your percentage of repeat business?
The easiest way to get work is to market your existing clients. If you are not meeting the 80/20 Rule (80% of your business comes from 20% of your clients) perhaps it’s time to reassess your strategy.