February 24, 2014

Teaming to the Top: CRM is the Secret Weapon for Sub-consultants

Firms that engage in teaming need a CRM that understands the concept of teamed opportunities. Subconsultant firms have to team up with a Prime Consultant (typically an Architecture or Construction firm) to win business.  One of the challenges when you’re not the Prime is getting good metrics out of your CRM.

Most CRMs are not designed to function in the complex framework of a teamed opportunity. In most systems, you have to create separate opportunities for each team you join, eliminating any chance of getting accurate metrics regarding hit rates. This makes it impossible to analyze which markets to pursue and with whom.

A tool like Cosential was designed to help manage teamed opportunities in a way that enables the user to accurately track the overall opportunity, teaming partners, competitors, and the targeted owners. By accurately reporting the hit rate with these complexities, it enables firms to make more strategic decisions going forward on where to spend marketing dollars and allocate resources in future pursuits.

For example, let’s say you’re an electrical engineer pursuing work for a hotel project. You manage to get on a team with 3 of the 5 Architecture firms pursuing the job. Cosential allows you to track the project as one Opportunity while also tracking the details of each team. So win or lose, you gain insight into which teaming partners give you a competitive advantage. In most other CRMs, users have to track each team as an independent opportunity, thus skewing hit rates and not enabling you to look at the pursuit as one entity.

With the ability to track team details, you will also be able to track which Primes are teaming with you for various services, disciplines, etc. With Cosential, firms have this knowledge at their fingertips and can scale appropriately.

Skewed hit rates can also derail marketing’s ability to evaluate resources. In the above example, if they’re tracking the overall cost by teaming partner, the marketing cost might be $4k/ team, but 2 of those teams didn’t get selected. Thus, you spent $12k on winning, but can then detail what costs were spent on lost teams to allocate those funds better on future pursuits.

Pulling metrics on both opportunities and sub-opportunities is critical when trying to answer the following questions:

  • What is our actual hit rate for Won and Lost pursuits?
  • What Prime teaming partners do we win with the most?
  • Which teaming partners are getting Shortlisted, but aren’t winning at the interview?
  • Who aren’t we teaming with that is winning?
  • Which of our competitors are being selected instead of us? For which services? Which disciplines?
  • Who are the winning teams by discipline or team?

When companies engage in teaming, they must have a CRM that includes functionality that accounts for their business process if they want to make informed, strategic decisions.

If you are in need of a solution for your data, proposals, or customer relations we would love to show you our CRM. Book your demo now!

Feel free to also reach out to our sales team at sales@cosential.weareshellshock.com or 800-505-7089 ext. 1 with any questions you may have.

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