Financial services senior managers earn on average £78,000 per annum (Glassdoor.co.uk, 2019) and it is alarming that they now only occupy 35% (previously 60%) of business. This provides evidence as to why the average contract is valued at £10,000 less, and therefore it is imperative to increase clients from this industry. Due to the high work demands, convenience to clients should be emphasized as the unique selling point (USP). Due to past experiences with similar clients, they do not need to waste time articulating details of their dream home as the firm has previous experience of this type of client’s preference (mock-Georgian). Relationships with builders need to be improved to ensure contracts are not lost. Hosting team building activities to introduce builders to Waldegrave employees will strengthen the relationship between these two parties and therefore increase productivity through improved communication and work-output. In addition, monetary incentives such as commission based upon referrals can further boost productivity and contract security.   

 

Employing a graphic designer to improve/update the company’s website can increase clients. An improved interface on the website will allow potential clients to view previous designs and allow easier navigation that will increase the likelihood of enquiring about work. In addition, a website will clearly identify the quantity of leads coming through this directory that will provide invaluable market data for the firm. Furthermore, the office in Oxford can be expanded to cope with the influx of tech-based customers in the surrounding area. This will allow clients to meet face-to-face with the firm and spend quality time exploring their options. Taking in to account the limited experience of architecture within these clients, an emphasis will be made on educating clients (possibly through workshops) about design features so that they can articulate their wants and needs for a new home.

 

The aforementioned solutions are all low cost and easily implemented, with educational workshops potentially operated by members of the architecture firm as a cheaper alternative to hiring a third party company. I would also advise Waldegrave and Partners Ltd to host a brainstorming session between management and team leaders, featuring a no negative suggestions session followed by a negative brain storm (starting with worst outcomes). 

 

Ultimately, a website is the most effective method of increasing brand outreach, client referrals and gaining market data. A website will also act as a portfolio that will entice customers to work with Waldegrave and Partners and stop the negative trend for work. Secondly, a better relationship needs to be established between the firm and builders to stop lost contracts. This can be achieved via team building exercises that will also boost morale and increase work productivity. 

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