Recap of Finance Matters! Event on 10/22/2019
Posted by [email protected] on Nov. 19, 2019 / Subscribe 0
When it comes to financial reports for A/E/C firms, marketers tend to shy away from understanding what the numbers mean and where they come from. But on a warm Tuesday morning in October, Chris Rickman, FSMPS, CPSM, of Apex Solutions shared his thoughts to help SMPS members and colleagues to tackle this challenge.
With over 30 years’ experience in engineering and business operations, Chris shared real world marketing and financial performance scenarios such as calculating the return on investment using a Hit Rate and value pricing techniques. The Go/No Go process was also discussed in the workshop and its effect on money, time and resources to produce quality proposals. Chris’ thought leadership guided us through accounting exercises, which he then benchmarked with industry metrics from Deltek. Attendees were able to return to their firms and measure this year’s budget compared to the industry overall.
A key takeaway from this workshop was the opportunity for marketers to be confident and involved in developing marketing budgets with their firm leadership. Attendees gained an understanding to assess their expenditures and be a participant in the budget conversation. This workshop was invaluable for marketers and firm principals to help improve their firm’s bottom line.
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