Bits and Pieces from the SMPS Twin Cities Program on November 6 - Market Research for Business Development

Posted by commadmin on Nov. 14, 2013  /  Subscribe 1

More on our speaker – Joy Svoboda

For more than 12 years Joy Svoboda has helped A/E/C firms with their marketing and business development efforts both locally and nationally. She has conducted many market research studies for clients on topics that include service and production line expansion; geographical analysis; and market segment studies. According to her LinkedIn profile, Joy thrives on information gathering, interpretation and synthesis, and living somewhere between her right and left brain (a definite advantage in our industry). She readily admits to being a research geek.

Presentation Tidbits

Joy’s PowerPoint will be available to SMPS members on the SMPS website. You can also contact her at [email protected] if you have questions. The PowerPoint was very inclusive. Here are some additional tidbits from the presentation.

• Remember that market research is not only about what you need now, but also what you will need in the future.
• As you research a client or subject, you should start to recognize useful themes in your research items.
• Market research cannot predict human behavior, so doing in-person interviews (primary research) can be a great tool.
• Check out “bd4aec.org”, a division of COMPASS Consultants. They produce a monthly Ezine with useful articles about AEC-specific strategic planning and marketing. Joy has written a recent article for them.
• Clients have become more sophisticated. They know more and demand more. That has increased the need for market research.
• Know what specific questions to ask a client. It shows you are sincere about trying to find a solution to their particular issues.
• Along with knowing a client’s business, know their mission/values/vision. Relational alignment is critical with them to help them achieve their goals.
• Know what recent regulations have affected your client’s industry. For example, a recent food manufacturing modernization act might have mandated changes for a client in that market segment.
• Client satisfaction surveys are a good quantitative tool, but an interview can give you the client’s voice (qualitative).
• It is helpful to have a “client experience model.”
• If you use Google alerts, it is useful to use a different email than your work email, and set up folders for related information. Commit to looking at them – make the appointment on your calendar!
• Use LinkedIn to find graduation dates and estimate an age range for a potential contact. Use this information to determine who in your firm is the best person to call on that contact.
• In health care, decisions on large projects are typically made 5 to 7 years ahead of the project.
• Make sure your key messaging is woven consistently into all your content.

Karla Sampson
Marketing and Business Development Manager
LKPB Engineers, Inc.

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