Upload
others
View
1
Download
0
Embed Size (px)
Citation preview
VPVI-49:Leveraging the Power of Vision for Marketing Success
Jennifer Payne, DOWL
Leveraging the Power of Vision for Marketing Success
In the last four years, DOWL has transformed its go/no go process to include business development,
proposal tracking, and selection statistics to better inform and drive the firms marketing dollars to
wins.
Session Type: Customer Success Story
Session Code: VPVI-49
CE Credit Type: NASBA
CE Credit Value: 1
Track Filter: Vantagepoint/Vision
Audience Job Function: Business Development, Management/Executive, Marketing
Audience Technical Level: Intermediate (3-6 years), Advanced (7+ years), All Levels
Relevant Products: Vantagepoint/Vision
Speaker: Jen Payne | DOWL,
LLC
Jennifer PayneChief Marketing Officer
Brian FarrellCorporate Services Specialist
About DOWL
Who are we?475 Employees
Where is DOWL?
23 Offices in 7 Western States
What We Do
Vision Superusers (Since 2008)
Accounting Project
Management
Marketing/CRM
Qualifications
Opportunities
BD Campaigns
Project Planning (micro-user)
DOWL Marketing
200-300
Q-Based Proposals
a Year16 Marketers
Sharing what we have done…One firm’s journey
Still
learning
Not a linear story Still have places to
go
Our Problem
Our Problem2015: Quality issues. Low hit rate. Lackluster performance.
Dissatisfied
Clients
Too Many
Write-offs
Working Harder,
Not Smarter
Our Solution
2016- 2021 Strategic PlanFocus on quality
Operational Excellence (OPEX)
Leveraging Vision for Success
STEP 1: Opportunities Database
Marketing DataCanary in the Coal Mine
Getting the Most Out of Data
Opportunities
Opportunities
Opportunities Database Marketers only
Track RFPs (Lead, Pursuit, Pending, or Win/Loss)
Client
Project number
Practice/Sub-practice area
PM
Marketer
Stage
Due date
Database Fields
Marketing reports
Hit rates
Revenue wins
Reports
STEP 2: Rigorous and Mandatory Go/No GoCapturing the information in Opportunities
Go/No GoWe All Have One
Operational Excellence (OPEX)
Go/No Go Procedure (Since 2017)Win Potential Yes No
Did we know the RFP was coming out and begin pursuit efforts?
Do we have a positive relationship with the client?
Do we have a good chance at winning (greater than 50%)?
Do you want to go for this project?
Can we differentiate ourselves from our competitors?
Do we have a competitive project champion/PM who is excited about the
project?
Do we have a team (including vetted subconsultants) and three recent,
relevant past projects that meet the minimum RFP/RFQ requirements?
Is the project work a current core competency or existing sector?
Is there adequate time to prepare proposal? (RFP was posted less than 72
hours prior to PM approval)?
2016 Go/No Go Hit Rates 47%
25%
13%
9s 8s 7s*All data out of Vision
STEP 3: Business DevelopmentMaking Vision work for us
Get Ahead of the Opportunity
BD Our ProblemGrowing firm with no unified system
No unified
BD
database
Not ahead
of RFPs
Marketing not
engaged
BD Our Solution
Vision BD Database.
Transformed “Marketing Campaigns” into “BD Campaigns”
Five marketers supported the (then) five Practice Areas with their BD meeting.
Made it the fire-of-the-day
Growing firm with no unified system
BD CampaignsGetting the Most Out of Data
BD Campaigns
BD Database Project Managers and Marketers Track BD efforts
1. Pre-RFP
2. Wish-List Clients
3. Out-of-Seat Marketing)
Mandatory Fields
Action Items
Scheduled Actions
BD Reports Generate action-oriented reports Sorted by:
1. Sub-practice area
2. Priority
3. Project Manager
STEP 4: Research and EducationLook at our data and share the results
Average Cost of PMs/Marketers
48
$71.70/hour
Cost of Proposal Effort by G/NG Score
Q-Based
Proposals
Number of
Hours
Cost of Proposal
Efforts
Total Proposals 28,602 $2,059,344
Unknown 5,004 $358,787
6 and below 1,430 $102,531
7s 1,386 $ 99,376
8s 7,091 $508,425
9s 13,691 $981,645 *All data out of Vision
Cost to Win $100K of Work by G/NG Score
Q-Based
Proposals
Cost to Win
$100,000
7s $1,988
8s $6,238
9s $4,641
50
*All data out of Vision
G/NG Hit Rates
47%50%
25%
30%
13%
30%
0%
10%
20%
30%
40%
50%
60%
2017 2018
9s 8s 7s *All data out of Vision
A Deeper Look at Go/No Go
Most of the time 7/8 are going to lose
Sometimes it’s good to go for a 7/8
1. Transformational project
2. Senior leadership and senior marketer involved
3. Mitigating factors
What we learned
Go/No Go Procedure (Late 2018 Change)
Win Potential Yes No
Did we know the RFP was coming out and begin pursuit efforts?
Do we have a positive relationship with the client?
Do we have a good chance at winning (greater than 50%)
Do you want to go for this project?
Can we differentiate ourselves from our competitors?
Do we have a competitive project champion/PM who is excited about the Project?
Do we have a team (including vetted subconsultants) and three recent, relevant
past projects that meet the minimum RFP/RFQ requirements?
Is the project work a current Core competency or existing sector?
Is there adequate time to prepare proposal? (RFP was posted less than 72 hours
prior to PM approval)?
Win Potential: Total the number of Yes answers for 1.
9 = Go
7-8 = No Go unless approved
0-6 = No Go
YES Score:
__/9
Questions added to Vision (From Go/No Go)
Questions added to Vision (From Go/No Go)
The Success: Working Smarter Not HarderNumber of Qualifications-based Proposals
336
281
246
The Success: More Dollars in the DoorQ-based, Prime Project Proposals
$22
$42
$69
The Success: Hit Rate ImprovementThe Upward Climb
15% increase
Still…Our 9s were also less than 50%
50 48 46
0
20
40
60
80
100
January March May
*All data out of Vision
STEP 5: EvaluateWhy are our 9s dipping? What Go/No Go questions are losers?
Why Do We Lose 9s?
Why Do We Lose 9s?
Top Reasons We Lose 9sWhy we lose when we think we should win?
Competition
We can’t differentiate ourselves from our competition
Client Relationship
We misjudge our relationship with clients
Unintended Consequences
Because we changed go/no go, PMs were fudging the numbers
Loss Correlation (Go/No Go Questions)
Go/No Go Loss Questions
Did we know the RFP was coming out?
Do we have a good relationship with the client?
And when we lose it’s one of these…
2020 Goals
Improve Go/No Go process
Pipeline - Capture all revenue sources in
Opportunities
Final Thoughts
Use Vision to track and monitor success
Constantly evaluate/re-evaluate what you’re doing
Do change what you’re doing based on new data
It’s a Process