Win, Retain, Gain - How To Win New Business In Engineering

Posted by Blair Pringle, New Business Director on July 27, 2015

Win, Retain,  Gain -  How to Win new Business in Engineering

In the 2014 "winning new business" was deemed to be one of the biggest business issues faced in the industry.

It's an understandable viewpoint, after all your firm's success hinges on its ability to raise the revenue it needs.

The temptation may be to simply

Less is more

But what if there is an alternative? What if it's possible to win more business by working smarter rather than harder?

Streamlining and automating the sales pipeline as well as improving your visibility and customer service  is a great way of increasing revenue fast.

Through storing past, present and financial data all in one place, a project-based enterprise resource planning system has the ability to improve visibility for better decision making and enhance customer service at the touch of a button.

When it comes to winning business, it means more can be achieved for less.

Here's how:

You'll send out more proposals

Forget collating information such as team CV's, budgeting information and references from silo'd data vaults. The right technological system can draw documents from a central area, meaning pitches and proposals can be created in the blink of an eye. Doubling your outreach to potential clients could mean doubling your success.

You'll target the business to which you are most suited

But don't just send proposals out to every company on your radar. Spending time chasing the "wrong" kind of clients can simply drain your sales efforts.

Instead, identify your "ideal" client with the help of your customer and financial data. Building a picture of the type of company that is likely to want your most lucrative services helps focus your efforts effectively. When resources are limited, why waste time selling to anyone else?

You'll increase sales organically

Finally, once your new customers are through the door impress them with transparent reporting, perfectly planned out projects and the provision of value-added support.

Your existing customers provide the best opportunities for vertical and "up selling" services. Don't pass up on any opportunity to maximise their revenue potential.

Getting your sales pipeline into shape doesn't necessarily mean a costly departmental overhaul. Simply investing in a centralised technological platform will mean more of your proposals will fall into the hands of your target market and help you capitalise on your partnership as time progresses. This has to be the fastest and most straight-forward road to winning new business and overcoming what's considered one of the biggest issues in Engineering today. 

Learn more about the megatrends affecting the engineering sector today by downloading this Snapshot of the Consulting Engineering Industry.