New research from the Society for Marketing Professional Services Foundation (SMPS Foundation) finds that average AEC firm hit rate—measured most commonly as the total number of proposals submitted to the total number of projects won—falls within the 37-44% range, depending on the discipline. Engineering firms have the highest average hit rate, at 44.2%. Construction firms have the lowest average hit rate, at 37.9%.
The 22-page report, Measuring for Success: A Look at Hit Rates & Other KPIs in the A/E/C Industries, evaluates the tools and processes that AEC firms use to track marketing success. The findings and analysis are based on a survey of 303 U.S.-based AEC firms conducted by the SMPS Foundation in conjunction with the Southern Illinois University Edwardsville Master of Marketing Research program.
“While there are many variables in tracking hit rates throughout AEC industries, there is a benefit to having a metric for evaluating a firm’s progress,” wrote the report’s authors. “The hit rate provides a baseline over time for firms to improve their success rate and should be used in conjunction with other key performance indicators such as profitability, market trends, and backlog.”
The report addresses a variety of topics, including:
• Methods and metrics AEC firms utilize to track their success of winning projects
• How firms use the hit rate metric to improve future performance
• Alternative key performance indicators
• Effectiveness of hit rate and other KPIs
• Barriers to developing a benchmarking standard for AEC firms
• It concludes with takeaways and action steps for AEC firms.
SMPS members receive a complimentary download of the report once they log on to smps.org.
Nonmembers may download the report with a donation of $24.95 until January 31, 2017.
Source: SMPS Foundation
Related Stories
| Aug 11, 2010
Construction employment shrinks in 319 of the nation's 336 largest metro areas in July, continuing months-long slide
Construction workers in communities across the country continued to suffer extreme job losses this July according to a new analysis of metropolitan area employment data from the Bureau of Labor Statistics released today by the Associated General Contractors of America. That analysis found construction employment declined in 319 of the nation’s largest communities while only 11 areas saw increases and six saw no change in construction employment between July 2008 and July 2009.
| Aug 11, 2010
Leggat McCall/Commodore Builders/O’Hagan “15 Days” earns LEED Platinum
The ambitious “15 Days” project that teamed up Leggat McCall Properties, Commodore Builders and Audrey O’Hagan Architects, LLC last September has just been certified LEED-platinum by the U.S. Green Building Council (USGBC) – the first and only commercial interior work in Boston to earn that distinction.
| Aug 11, 2010
Harvard Public Library
Harvard, Mass.
Five years ago, the town of Harvard, Mass., which lies about 30 miles west of Boston, faced two problems. First, its iconic public schoolhouse, known as Old Bromfield, which was built in 1877, had become outdated. So, too, had its public library, which had no room to grow on its site.
| Aug 11, 2010
Green consultant guarantees LEED certification or your money back
With cities mandating LEED (Leadership in Energy and Environmental Design) certification for public, and even private, buildings in growing numbers, an Atlanta-based sustainability consulting firm is hoping to ease anxieties over meeting those goals with the industry’s first Green Guaranteed.
| Aug 11, 2010
Skanska, Turner most active in U.S. hotel construction, according to BD+C's Giants 300 report
A ranking of the Top 50 Hotel Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
An American perspective: skyscraper architecture goes modular in the UK
At 25 stories, Victoria Hall, a new modular high-rise in the city of Wolverhampton, England, is the world’s tallest building constructed principally off-site. The ground floor is site-built, but the other 24 stories are assembled from 383 individual modules shipped over from Cork, Ireland. The mixed-used complex, designed by O’Connell East Architects of Manchester and developed by Victoria Hall Ltd., will house students at the University of Wolverhampton.
| Aug 11, 2010
Architecture Billings Index bounces back after substantial dip
Exhibiting a welcome rebound following a 5-point dip the month prior, the Architecture Billings Index (ABI) was up almost 6 points in July. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the July ABI rating was 43.1, up noticeably from 37.7 the previous month.
| Aug 11, 2010
Gilbane, Whiting-Turner among nation's largest university contractors, according to BD+C's Giants 300 report
A ranking of the Top 50 University Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit /giants
| Aug 11, 2010
70% of Qualified Trade Association Members Attain “Green Brick Specialist” Designation in Comprehensive Training Program
The Brick Industry Association (BIA), the national trade group representing distributors and manufacturers of clay brick and suppliers of related products and services, has announced that 70% of its eligible members have passed the industry’s first-ever online training program, “Sustainability/Green Building Design and Brick.”
