An architecture or engineering firm that readily defines the benefits of its services and consistently demonstrates its value better satisfies its clients and, accordingly, receives higher revenue. Value increases when it also provides a benefit to the client’s business.
1. Assess your firm’s past performance.
Past performance establishes a good baseline on which to build value. Interviews with clients and potential clients creates value because it demonstrates concern and initiates a channel of honest communication with the client.
3. Identify your firm’s present strengths.
Internal examination identifies the unique features that give a firm a positive market identity, such as:
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Technological advantages
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Areas of expertise
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Interpersonal skills
4. Client benefits are expressed in:
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Proposal packages
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Collateral materials
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Project team meetings
5. Measure your firm’s value.
Monitoring the results of these plans will uncover measures such as:
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Value as increased revenue
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Higher proposal “hit” rate
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Increased number of referrals
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Higher quality of assignments
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Greater visibility in the market
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Better business relationships.
Creating the value of a firm for its clients builds morale within the firm, supports high standards within the profession, and positions your firm as a leader in its field.
About the Author: In his 40+ years leading PSMJ Resources, Frank Stasiowski, FAIA has authored dozens of books and manuals serving the business needs of the A/E industry, including eight best sellers on management. His recently re-released, The Value Pricing Imperative for Design Firms, details what A/E firms need to do to develop and implement a competitive pricing strategy today, and in the future. In addition to being the Founder and CEO of PSMJ, he is a frequent speaker at numerous prestigious A/E industry events, including PSMJ's A/E/C Pricing and Negotiations Workshop.
Ever wonder if there really is a way to get the upper hand in negotiations? A way to get the fees (and respect) that you deserve…without losing the client? We have packed into PSMJ's A/E/C Pricing and Negotiations Workshop, 40+ years of proven strategies and tactics that the most successful A/E/C professionals are using right now to get results.
You also might be interested in these blog posts by Frank A. Stasiowski:
Why Value Pricing is the Only Way to Survive
Classic Mistakes: 3 Steps To Lose a Client
Client Service Strategy to Guarantee Repeat Clients