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
AIA Course: Building with concrete – Design and construction techniques
Concrete maintains a special reputation for strength, durability, flexibility, and sustainability. These associations and a host of other factors have made it one of the most widely used building materials globally in just one century. Take this free AIA/CES course from Building Design+Construction and earn 1.0 AIA learning unit.
| Aug 11, 2010
Blue-Light Schoolhouses
Add the explosion in the number of school-aged kids nationally to the glut of huge, vacant stores in many communities and what do you get? Big boxes being turned into schools. For districts facing population pressure, these empty retail buildings can be the key to creating classrooms quickly, and at a significant cost advantage.
| Aug 11, 2010
Great Solutions: Green Building
27. Next-Generation Green Roofs Sprout up in New York New York is not particularly known for its green roofs, but two recent projects may put the Big Apple on the map. In spring 2010, the Lincoln Center for the Performing Arts will debut one of the nation's first fully walkable green roofs. Located across from the Juilliard School in Lincoln Center's North Plaza, Illumination Lawn will consist ...
| Aug 11, 2010
Loft Condo Conversion That's Outside the Box
Few people would have taken a look at a century-old cigar box factory with crumbling masonry and rotted wood beams and envisioned stylish loft condos, but Miles Development Partners did just that. And they made that vision a reality at Box Factory Lofts in historic Ybor City, Fla. Once the largest cigar box plant in the world, the Tampa Box Company produced boxes of many shapes and sizes, spec...
| Aug 11, 2010
Idea Center at Playhouse Square: A better idea
Through a unique partnership between a public media organization and a performing arts/education entity, a historic building in the heart of downtown Cleveland has been renovated as a model of sustainability and architectural innovation. Playhouse Square, which had been working for more than 30 years to revitalize the city's arts district, teamed up with ideastream, a newly formed media group t...
| Aug 11, 2010
Pioneer Courthouse: Shaking up the court
In the days when three-quarters of America was a wild, lawless no-man's land, Pioneer Courthouse in Portland, Ore., stood out as a symbol of justice and national unity. The oldest surviving federal structure in the Pacific Northwest and the second-oldest courthouse west of the Mississippi, Pioneer Courthouse was designed in 1875 by Alfred Mullett, the Supervising Architect of the Treasury.
| Aug 11, 2010
Divine intervention
Designed by H. H. Richardson in the 1870s to serve the city's burgeoning Back Bay neighborhood, Trinity Church in the City of Boston would come to represent the essence of the Richardsonian Romanesque style, with its clay tile roof, abundant use of polychromy, rough-faced stone, heavy arches, and massive size.
| Aug 11, 2010
Westin Hotel
Mid-twentieth-century projects are in a state of limbo. In many cities, safeguards against quick demolition don't even cover “new” buildings built after 1939, yet many such buildings may be obsolete by current standards. The Farmers and Mechanics Savings Bank, located in downtown Minneapolis, was one such building, a rare example of architecture from a time when American design was ...
| Aug 11, 2010
Dream Fields, Lone Star Style
How important are athletic programs to U.S. school districts? Here's one leading indicator: In 2005, the National Football League sold 17 million tickets. That same year, America's high schools sold an estimated 225 million tickets to football games, according to the American Football Coaches Association.
| Aug 11, 2010
Platinum Award: Monumentally Hip Hotel Conversion
At one time the tallest building west of the Mississippi, the Foshay Tower has stood proudly on the Minneapolis skyline since 1929. Built by Wilbur Foshay as a tribute to the Washington Monument, the 30-story obelisk served as an office building—and cultural icon—for more than 70 years before the Ryan Companies and co-developer RWB Holdings partnered with Starwood Hotels & Resor...
