Market Analysis

BUSINESS GENERATION STRATEGY

"EVERY ASPECT OF MARKETING IS ENTIRELY USELESS UNLESS IT PRODUCES CONVERSIONS" 

Jeremy Smith

Business generation strategy is not simply lead creation (although that is part of it). It is the marketing strategy your firm uses to consistently attract your ideal clients. As Allan Dibb states in his book The 1-Page Marketing Plan, “marketing is the strategy you use for getting your ideal target market to know you, like you and trust you enough to become a customer.”

 

The main goal of Business Generation Strategy is to clearly define the marketing and sales process in such a way that it leads to predictable lead creation. Most architectural firms experience a feast-to-famine flow of work. They chase to get work, then as the work fills up the marketing is put on hold so they can deliver the service.When the project is over they reboot the marketing (often changing or updating it) and go chase more. 

 

Business Generation Strategy leverages your Market Value Positioning in such a way that the clients you want to work for are attracted to your business. The ultimate goal is to have so much of the work you want to be doing that you can turn away all the work you shouldn’t be doing. 

 

Benefits

  • Boost Staff Efficiency - Bringing in work that excites your team increases productivity and work satisfaction

  • Reliable Lead Propagation - Systematizing lead generation to ensure a consistent flow of work

  • Higher Profit Margins - Obligates you to increase your fees and profits

  • Project Satisfaction - Allows you to choose the projects you want 

  • Project Freedom - The freedom to reject projects you don’t want

  • Shareholder Detachment - Frees the owners and principals from the everyday grind

 

Misconceptions / Mistakes

  • We need to learn from the big, successful firms - Big firms have different marketing goals and often have teams of people or an outside firm controlling their marketing and branding

  • We don’t have time or money to market - Marketing is more about time well spent and well placed investments.

  • We already spent our marketing budget - If i was handing out $5 bills for $1, how many would you buy? Marketing plans should be based on how much you are willing to risk on a particular tactic, but when a tactic proves successful you should milk it until is stops.

  • Architects Marketing is different - marketing your firm is different, but without a system the business will always rely on you

 

Solutions / Best Practices

  • Understand your Value Proposition

  • Focus on your Core Story

  • Create a Value Ladder

  • Define your services to create more value than anyone else

  • Create a realistic, consistent plan

  • Align your marketing with your clients wants and desires (it is not about your services or features)

  • Track your lead sources (especially cold leads)