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SMPS Headquarters
625 North Washington Street
Suite 302
Alexandria, VA
22314-1936
email
info@smps.org
phone
703.549.6117
The Pinnacle Experience 2023
How do we capture profitable revenue in an increasingly commoditized Industry?
FEATURE
Group: Fab 4
Presentation Title
How do we capture profitable revenue in an increasingly commoditized Industry?
Group Name
Fab 4
![ThePinnacleExperience-287.jpg](/image/12108918.1703633228000/ThePinnacleExperience-287.webp)
List of Group Members
Courtney Kinamore, CPSM, Marketing Manager, S. M. Wilson & Co.
Ryan Konst, P.E., CPSM, Executive Vice President, Schaefer
Stacy Robben, MHA, FSMPS, CPSM, LEED AP, Executive Vice President & Chief Marketing Officer, The Boldt Company
Amanda Bohnert, CPSM, Chief Marketing Officer, S. M. Wilson & Co.
Overview
Project fees are not keeping up with the increasing rates of operating costs like improving firm culture, recruiting top talent, and skyrocketing salaries. Challenges like having clients who are making uneducated decisions when choosing a firm for a project so they properly understand the fees in proposals contribute to losses for firms who do not adjust their fees.
Challenge Statement
How do we capture profitable revenue in an increasingly commoditized industry?
Strategy
By examining the scope of a project and the reality of the costs associated with growing a modern firm and attracting top talent, firms must be more strategic in key roles like project managers, and structure their contracts to clearly state fee structure that align with profit goals.
Solutions
Four-part plan to align profit goals
- Client selection
- Client experience
- Value we bring and the risks we take when choosing projects
- Success is meeting or exceeding profitability goals.
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