Jason Mlicki, principal of Rattleback, has published a thought-provoking article that may help anyone concerned with architectural, engineering and construction marketing determine some simple but important metrics for success.
He writes that there are four questions that need to be answered:
- How many leads are we generating?
- How many initial meetings are we generating?
- How many opportunities are we generating?
- What percentage of opportunities do we win?
The interesting thing about these questions is that they each lead to quantifiable data. His story goes into greater detail about each of the questions and leads to further insights as you figure out a way to measure your marketing success.
In detail, here is what he says in response to the second question:
Each week, each month, each quarter? From which lead sources?
As you know from the lead tiers described above, not every lead represents a direct conversation or project opportunity. As I’ve said many times in the past, a lead is a person not a project. Projects can’t hire you. Only people can. When we generate a lead, that person may have a need right now or they may have a need at some point in the future. The act of generating the lead is the act of turning a faceless person into a known potential client and bringing them into your marketing system. The act of generating the meeting is converting that lead into an actual sales conversation for a principal or senior partner.
One of the core mantras of the Rattleback marketing philosophy is that nothing truly meaningful happens until there’s a conversation, which means that a critical objective of your marketing efforts is not only to generate leads, but also to translate those leads into quality conversations for your firm’s principals. This means we have to become adept at nurturing people that are in our marketing system towards high-value interactions and face-to-face or in person conversations with firm leaders.
I’ll let you read the rest of the article directly.
Have you developed models and measurement tools for your AEC marketing? If so I welcome your comments to this post or by email to email@example.com.