To Double in Size, A/E Firms Are Turning to Market Research

By Mark Goodale

NATICK, Mass.--On average, firms in the architecture, engineering, and environmental industry expect to double in size every 10 years.

The question many of these firms need to answer is where all of this growth is going to come from.

One of the first steps firm leaders take toward identifying opportunities is conducting market research. We're getting more and more requests to scan the business environment for new trends and developments.

A few market research tips for firm leaders looking for
growth opportunities:

• Join professional associations
  An effective way to learn about any particular industry and its key players is to become a member of a professional association in which clients or prospective clients are involved.
  
  
• Read industry publications
  Industry publications are a valuable and cost-effective tool for keeping up to date with the issues, the players, the local needs, and the trends of a particular market sector.
  
  
• Research government agencies
  Federal and state governmental statistical agencies can provide information on regional and industry outlooks, job forecasts, and construction spending trends. This is a good source when trying to determine which markets to consider for growth.
  
  
• Outsource it
  Third-party resources can tap into the information firms
  really want to know -- upcoming projects, selection process, contracting arrangements, and other details that clients may be less inclined to provide directly.

Goodale, a vice president with ZweigWhite, specializes in strategic business planning and marketing consulting services.