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
Mixed-Use | Apr 22, 2022
San Francisco replaces a waterfront parking lot with a new neighborhood
A parking lot on San Francisco’s waterfront is transforming into Mission Rock—a new neighborhood featuring rental units, offices, parks, open spaces, retail, and parking.
Legislation | Apr 21, 2022
NIMBYism in the Sunbelt stymies new apartment development
Population growth in Sunbelt metro areas is driving demand for new apartment development, but resistance is growing against these projects.
Building Team | Apr 20, 2022
White House works with state, local governments to bolster building performance standards
The former head of the U.S. Green Building Council says the Biden Administration’s formation of the National Building Performance Standards Coalition is a “tremendous” step in the right direction to raise building performance standards in the U.S.
Market Data | Apr 20, 2022
Pace of demand for design services rapidly accelerates
Demand for design services in March expanded sharply from February according to a new report today from The American Institute of Architects (AIA).
Multifamily Housing | Apr 20, 2022
A Frankfurt tower gives residents greenery-framed views
In Frankfurt, Germany, the 27-floor EDEN tower boasts an exterior “living wall system”: 186,000 plants that cover about 20 percent of the building’s facade.
Healthcare Facilities | Apr 19, 2022
6 trends to watch in healthcare design
As the healthcare landscape continues to evolve, IMEG’s healthcare leaders from across the country are seeing several emerging trends that are poised to have wide-ranging impacts on facility design and construction. Following are six of the trends and strategies they expect to become more commonplace in 2022 and the years to come.
Energy-Efficient Design | Apr 19, 2022
A prefab second skin can make old apartments net zero
A German startup is offering a new way for old buildings to potentially reach net-zero status: adding a prefabricated second skin.
Concrete Technology | Apr 19, 2022
SGH’s Applied Science & Research Center achieves ISO 17025 accreditation for concrete testing procedures
Simpson Gumpertz & Heger’s (SGH) Applied Science & Research Center recently received ISO/IEC17025 accreditation from the American Association for Laboratory Accreditation (A2LA) for several concrete testing methods.
Senior Living Design | Apr 19, 2022
Affordable housing for L.A. veterans and low-income seniors built on former parking lot site
The Howard and Irene Levine Senior Community, designed by KFA Architecture for Mercy Housing of California, provides badly needed housing for Los Angeles veterans and low-income seniors
Building Team | Apr 18, 2022
Shive-Hattery Acquires WSM Architects
Shive-Hattery announces that it has acquired WSM Architects, Inc., a 13-person architecture firm in Tucson, Arizona.