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Marketing Reports

The more I have become addicted to marketing metrics the more I find that it is important to step back and take a big picture look at the reports I am running.  When I first began developing marketing metrics many years ago it seemed that I was generating great data, but it was not always actionable data.  Over time I have learned how to focus on developing data and metrics that drive better decisions and revenue. This past week I have been thinking about the reports that I will be running over the next 12 months with a focus on producing data that can be acted on to help drive profits. Below is a listing of some of those reports and I hope many of you will find the list beneficial. I would love to hear if you have additional reports that you are running to help drive top line growth.

Monthly Reports

  • Revenue Forecasting
    • Lead Reporting
    • Pipeline Reports (Fee proposals and  qualification based proposals)
    • New Business Reports (New work signed by month)
    • Backlog Report  (Volume of contracts signed but not yet billed)

Quarterly Reports

  • Marketing/BD Costs by group, division, and companywide
    • Marketing Labor Costs (Marketing personnel Only)
    • Marketing Labor Costs (Non-marketing personnel)
    • Business Development Labor Costs
    • Marketing/BD Non-Labor Costs
  • Hit Rates by group, division, companywide, and most importantly by opportunity owner
    • Proposal to Awarded
    • Shortlisted to Awarded

Bi-Annual Reports (1/1 and 7/1)

  • Revenue Comparison Report (Compare revenues for Top 100 clients to prior 3 years revenues from those same clients)
    • Identify growth and losses for top clients
      • Reversible or Inevitable?
  • Identify Client Managers and set meetings regarding relationships that are losing ground

Annual Reports

  • Project Size Report
    • Project profitability by project size and as portion of total profitability
    • Project size as portion of total revenue
    • Repeat Clientele Percentage (percentage of clients that are New vs. Repeat)

What will a CRM do for me?

One of the primary goals of a CRM (Customer Relationship Management) system should be Increasing Revenue. This is accomplished by leveraging many aspects of the system, the most important of which are: Communication, Collaboration, Follow-up, Reporting, and Forecasting.  I was recently asked what we should expect from our corporate CRM (Deltek Vision) and I thought that you might find the list helpful as well.

A Good CRM should:

  • Be the corporate Client Database
  • Measure Business Development outreach efforts
  • Remind you to follow-up in a couple of days, weeks, or years
  • Become a central repository for notes and information on a given client or lead
  • Manage qualified leads and keeping them from falling off the radar
  • Manage and track outstanding fee proposals, including forecasting revenue
  • Manage and track outstanding Statements of Qualifications, including forecasting revenue
  • Track customer interactions
  • Identify Business Development Tasks that need to happen
  • Identify if those Business Development tasks are actually happening
  • Notify Client Managers about interactions everyone else the company is having with their client
  • Provide feedback on projected revenues and actual revenues
  • Report projected revenues by group/division/ company
  • Increase collaboration between groups and divisions through information sharing
  • Flag Client Managers and management when revenue is declining for a given client
  • Provide a historic record of project files prior to the award of a project
  • Identify money pits (people we’ve been pursuing for years to no avail)
  • Be a central repository of information on winning firms (ex: Architects that are winning Higher Ed, Local Gov, K12, work that we can team with to pursue future work)
  • Report on Business Development activities: “That which is measured is improved”
  • Manage conferences – costs, exhibiting, attending – and relate it back to specific employees
  • Track and measure Master Contracts (term contacts) to ensure they are being leveraged fully
  • Answer the question: What happens to someone’s contacts when they leave?
  • Provide historic Information on pursuits, lunches, relationships, and more

A Great CRM should:

  • Integrate with existing project and client data, allowing for cross reporting related to current revenues and past revenues and how these relate to future revenues
  • Identify “Stuck Opportunities”
  • Report on the effectiveness of the Business Development staff
  • Identify who and what efforts result in new work
  • Integrate with a Client Retention Program (ex: survey feedback loop to measure success)
  • Become a measurable part of the employee review process

 

Corporate Character

“Corporate Character is the intellectual and moral qualities that distinguish one company from another.” If you were to look at a ‘best value’ bid in Arlington County, VA you would find the following evaluation criteria used to award contracts: “(the County considers) the character, integrity, reputation, judgment, experience, and efficiency of the bidder.” Did you catch that, your clients are interested in the character of your company, not just your fee. They want to know the quintessence of who you are, your reputation, and why you’re the best; they want to understand your Corporate Character.

Inside and Out
Your Corporate Character is made up of hundreds of things that can be separated into two categories: how you are viewed (external) and who you are (internal). The external attributes of your Corporate Character are easy to understand and easy to change, they include your brand, public relations, reputation, sales, and customer service. The internal attributes of your Corporate Character are much more complicated, they include your corporate culture, integrity, honesty, judgment, moral standard, and experience.

Wrapping Paper on a Bad Gift
The external attributes of your Corporate Character are easy to change, but like wrapping paper on a bad gift, they only cover the underlying problem temporarily. To truly change how your company is viewed in the marketplace you must start by changing the internal attributes of your Corporate Character.

Your Corporate Character
It is the inside out approach to changing Corporate Character that builds a company which your clients will want to work with, one that has the “character, integrity, reputation, judgment, experience, and efficiency” to be trusted.

Geographic Expansion Lessons Learned

CharlotteSkylineBelow is a summary I wrote after interviewing multiple partners at design firms related to their thoughts on what makes a branch office (geographic expansion) successful.  No rocket science here, just the summary of conversations with firm owners about what the keys are to a successful branch office.  What would you add to the list?  Post your thoughts in the comments section below.

Geographic Expansion Lessons Learned

Based on interviews with partners at design firms pertaining to office expansions.

Lessons Learned:

  1. The right person leading the charge is the most important factor in the success of a new branch office.
  2. Two key people are needed for a geographic expansion, a Rainmaker (someone that can bring new work in the door) and a Principal Designer.
  3. An expansion needs to be viewed in a positive light both from the new office, as well as the existing offices.  A geographic expansion should provide multiple people with opportunity for growth throughout the company.
  4. The right combination of people is the key ingredient to a successful geographic expansion.
  5. When a new office opens it is not “business as usual,” individuals opening a new office must be prepared to work 2-3 nights per week becoming involved in the local community and in the industry.
  6. Responsibility and autonomy for the new office must be given.  The individuals in that office need to feel as if it is their actions that will result in the success or failure of the office.
  7. Support staff is not critical for the establishment of a new office.

#1 Best Seller, Thank You!

I just wanted to say thank you to everyone here at Cofebuz for your help making the launch of “Network Like an Introvert” such an amazing success.  I was truly humbled this past month as the book rocketed to being a #1 Best Seller in the Sales and Selling category on Amazon and became the #1 Hot New Release in the Marketing and Sales category!  I am even more excited about the stories of people changing how they act as they have learned about networking from a new perspective, after all, that is how I will define the true success or failure of the book.  I’ll keep you posted as things unfold, but Thank You again!

Network Like an Introvert – My New Book!

My new book Network Like an Introvert is finally here!  I can honestly say that I had no idea just how much work goes into writing a book, so I am extra excited to announce the launch today.  Special thanks go out to everyone that was involved in the project over the past two years, especially Richard Klabunde (that’s my Dad) and Matt Handal.  I am proud to say that Network Like an Introvert is being published by Mark Buckshon and Asset Beam Publishing Ltd.  Please take a moment to order a copy, marvel at the new things you learn, and write an amazing review on Amazon.

About Network Like an Introvert:

For years introverts have been told that in order to succeed at networking they should follow extroverted and sales-driven tactics that are counter to their personalities. Network Like an Introvert takes on these false assumptions and looks at the lives of introverts that have succeeded at networking without trying to be someone they are not. Written by an introvert, for introverts, this book will give you a refreshing approach to networking that will leave you with the tools and plan to build a successful network.

To find out more about this book and to read what others are saying please check it out on Amazon.

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