Want to Grow Your Architecture Firm? Start With These Smart Tips!
Research shows that the global architecture and engineering market will show steady growth through 2020, with an impressive compound annual growth rate (CAGR) of 10.75%.
Are you at the helm of an architecture firm, looking to cash in on this valuable opportunity?
If so, you may be looking for ways to get your business off the ground. Though your team is the best in town, projects may still lag because you aren’t visible enough.
Today, we’re sharing five ways to get your company the recognition it deserves, so you can build profits alongside gorgeous buildings.
Ready to learn more? Let’s break ground!
1. Get Your Policies Down Pat
Before you can scale for growth, you’ll need to establish clear policies and procedures for your architecture firm.
This way, when new projects come through the pipeline, you aren’t starting from scratch and reinventing the wheel every time. Doing so can create inherent business risks. You need a set of standards to refer to at the onset of every new client relationship so plans are congruent and expectations are met.
What are the first steps you should take when architectural project leads come in? Who on your team handles which tasks? Where are the industry codebooks located and who updates them on a regular basis?
This is only a sample of the questions to ask yourself. The more granular your standards, the easier it is to grow.
It’s also helpful to write down your major goals, as well as your more specific objectives. Make sure everyone on your team has input. This way, you can make unified decisions for the greater good of the company.
2. Find Niche Markets
Is your firm still going after mega-sized shopping malls? With the dawn of e-commerce, these institutions are on the decline.
Look for places where no local architect has infiltrated yet and swoop in to make your mark. Is there interest buzzing around new breweries downtown? What about art galleries, sports facilities, or hospitality venues?
Don’t be afraid to step outside of your comfort zone just a little to explore undiscovered sectors. Explain your position and detail your experience. You may be at the forefront of the next best thing in your city!
If you’re a residential architect, distinguish yourself by specializing in a modern and exciting form of home design. For instance, you may be the top choice for locals looking for a modern farmhouse aesthetic. Or, you might hone in on French Country details or modern minimalism.
The key point? Find what makes you different and where you can make the most impact. Then, chase projects that align with that vision.
3. Step Up Your Marketing Game
In an industry such as architecture, you’d like to think that your expertise and talent alone would win you plenty of business.
Yet, with so much competition around every corner, that isn’t the case anymore.
Instead, you need to be tech-savvy and intentional about your marketing and advertising efforts. Still passing out old-school flyers or relying on mailed newsletters? It’s time to enter the digital age.
Hire a designer to create a sleek website showcasing some of your most impressive projects. Make sure the photography is top-notch. Add a page full of client testimonials, as well as one that details the background and education of your team members.
Need some inspiration? This guide to marketing for architectural firms is full of great ideas to help you grow your visibility and get your brand noticed.
4. Hire the Best
Want the capacity to take on large-scale projects? You’ll need the best in the business to join your team.
Attend job fairs, speak at local colleges and post openings on your website. Then, fine-tune your recruiting process to make sure you’re vetting candidates in the proper way. Create a list of required skills and essential competencies to make it easier for the cream to rise to the top.
In addition to skilled architects, you’ll also need project managers who can help your firm juggle multiple projects at once while meeting all deadlines. Other key positions to fill include accountants, HR managers, and administrative assistants.
It takes a crew to keep a firm running, and you’ll want yours to outpace the rest.
5. Prioritize Customer Communications
Want to fill your customer testimonial page with glowing, five-star reviews? It all starts with listening to your clients.
Make sure everyone on your team is well-versed in how to handle customer requests, resolve conflicts, and follow-up on any issues or concerns. In addition, everyone should know how to network and make connections within the industry.
This is one of those fields where it’s just as important to know the right people as it is to know the right things. Once you make a connection, use a Customer Relationship Management (CRM) tool to keep track of everyone’s contact information and project pipeline.
Give Your Architecture Firm a Solid Foundation
You don’t become the best architecture firm in town overnight. It may take years of dedication, sweat, and networking to become a household name.
To get there quicker, it’s important to organize your goals, look for ways to stand out, improve your marketing efforts and have the best team at the helm.
With these steps in place, you’re ready to give your clients the level of work they expect. This improves your bottom line and sets your business up for long-term success.
Want more business tips? We’ve got them, as well as the lifestyle advice you need.
Ready to explode your profits in 2019? Check out our five tips that can turn your firm into a cash cow before the year is up!