Robust ThemeDec 09, 2019 2020-04-08 7:40
Quadrupled Win Rate In One Year, & Sustained
A regional construction company had several years in a row of disappointing financial performance. Their issues were two-fold. The first challenge was a poor win rate. The second issue was a lack of sector diversification.
The good news? Their operational performance and reputation was very strong so the bones for a quick turnaround were there. They just needed some tweaks.
The Importance of Modification To Improve Your Strategy
We began by putting in place an aggressive strategy to diversify their focus from nearly 100% public centric, to add a diversified mix of private-developer and corporate work to the mix. Several tactics were laid out to make this transition as fast and seamless as possible. Concurrently, we began a strategy to improve their win rate.
Tactics included a Go No Go process intended to purge pursuits with low win probabilities, an aggressive community engagement plan, thought leadership initiatives, very intentional early game activities such as client data mining, relationship zippering, and very disciplined brain friendly presentations. The result was dramatic and fast.
INCREASE IN WIN RATE: 400%
INCREASE IN REVENUE: 200%
PUBLIC/PRIVATE DIVERSIFICATION: 50/50
How Creating Diversification Equals A Winning Moment
In only one year, our win rate went from 11% to 46%. We had pursued nearly half the amount of the previous year but won more than double the volume. The lessons learned stuck and became part of the company’s DNA, resulting in win rates of 40% and greater for the last 6 years with a healthy public/private mix.