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How Long Does it Take for You to Close a Contract as an Architect? – Transcript
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Summary
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- The speaker shares a real case study of a commercial architecture firm that generated 102 leads and closed a project for $75,000 in fees within 28 days using ads.
- Another firm called WDA spent $4,619 over the course of three months, generated 59 leads, and sent over $800,000 in proposals without closing any projects due to slow proposal times and a lack of follow-up.
- The speaker explains that the time it takes to get projects signed can range from as short as a week to as months, depending on lead quality and sales skills.
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All right, so we're going to dive into how long does it take to get project signed with something like ads? That's one of the most common questions we get and the reason it comes up is because most people don't know what comes from ads because he's never done it before. And so I just want to show you like a real actual case study perspective of how quickly and how long best and worst case in terms of how long it's going to take you to get your first project signed using something like ads. So just
to dive into an example, uh we can just dive into to a firm that uh they're a real commercial firm and if you look at the last 28 days in the ads manager, this is where we host all of our ads. Again, this is not relevant to you, but what it is relevant is the numbers.
Right? So just super super simple, we spent 2490 in the in the course of February. As I'm recording this, it is now March 25th, okay? So when we look at the 2490 we spent in um in February, we spent that over the course of 28 days. So it's about a little bit less than $100 a day, okay? Now we generated 102 leads. That puts us at about a $24
cost per lead. And what we found is that as we were vetting and nurturing these leads because none of our architects do this, we do this. And so we can found that there were some issues with quality and stuff like that. Typically lead costs are you know, a little bit under 20 bucks is typically super trash. Um so the biggest point is is that we we're getting a lot of leads, but not a lot of them are super quality. So we fixed that. Once we fixed that, we ended the 28 days with 12 qualified appointments.
12. Now 12 qualified appointments means they meet the four criteria's, which is they have a scope, they have the resources to actually realize on that scope or capitalize on it, actually do the work. The third thing is going to be they have an actual timeline, meaning they're ready to go now.
And the fourth piece is that they're going to make they are the main decision maker. Simple as that, okay? So what happens is is that once we did those four boxes are checked and we truly feel that this person's actually qualified and ready to move forward because they have the intent, they have a serious project, etc.
We actually send this person straight to the architect for them to hop on a Zoom call with and actually go for through their sales process. Okay, so in the same time span of 28 days, we had 102 leads come through, and just to walk you through what this looks like. If you look at the scheduling channel, you can just see all of these leads are coming through every single day. March 21st, March 20th, March 19th. If I were to scroll it back into February, you can see all of these leads just start to come through every single day.
It's because our goal is to get you in front of 1,000 people per day. That's why we spend the money. And that's why ads work so well, is cuz we are spending money to get people our eyeballs out there. Just I put a dollar in, I get 1,000 eyeballs out.
That's attention. We're getting attention. The only problem is most firms don't know how to convert attention, which is why we exist. That's what we help with. And so, we're getting all this attention, you know, Abhinav, Eric, Bob, Sam, all these different people.
But what happens is is that all these leads are great, but they aren't closed deals. And so, back to the question about well, what actually happens when a deal needs to be closed? This is when I get a a DM from Aparna, which is the the firm that I'm working with. And in that same 28 days, we generated a particular lead, his name is Patrick. Um and in in that he was actually one of the qualified appointments, and he's actually the one that closed for
$75,000 in fees. As you can see here, she said, "Hey Juan, just passing on the news that we'll be working with Patrick for his development." I said, "How much?" She said, "$75,000." So, super super great feedback on that. But the biggest point is is that we had $75,000 that was closed in 28 days. That's how quick you can make something happen.
That is how quick you can turn two $2,409 into $75,000 in fees. Super super straightforward. Now, what happens is is that this has to happen with a great system and a great sales process, which means that to be super frank, she was she wasn't following up with Patrick.
That's her particular scenario, and we actually have the entire case study on our um that's going to be up on our website. But, the whole point is so you can actually watch it from her perspective. But, she noticed that things were getting cold. Pat- she would send Patrick an email, and Patrick just didn't respond in time, and she felt like maybe this guy wasn't as qualified.
I said, "Hey, why are we not following up with these people? Like, they have their own lives. They have everything going on with them. As much as we like to follow up with, you know, architects, they'll be delayed for days or whatever whatnot. Why is that? Well, probably just caught up in their day, or they're not putting time towards things that they know are important.
Again, the whole point is is that I asked her to follow up. She followed up on that lead. He immediately responded, and she actually closed the deal. If she got cold and did not follow up and did not follow a proven sales process, she's going to turn out like another account that we have, which is WDA. They're a commercial firm out in Texas, um and we were working with them for about 84 days. I think it was a little bit longer than that, actually. So, it's about uh three-ish months, almost.
Uh yeah, it's about three months, six days less. And we got we spent about $4,619 over the course of the three months, so it's about 1,500 a month. Uh we got about uh 59 actual leads. And as you can see here, you can pretty much go through like all what that looks like, but we had a really good pickup rate. These leads were very responsive. We had uh 21 appointments, and 12 of them showed, so we had a 50% show rate, uh which is a huge issue because and it was a very self-explanatory issue. People at this
time people were booking to the architect's calendar, and that would then result to a low show-up rate because they wouldn't show up to that appointment. And so, we immediately fixed that by having our team take those appointments. But, once we felt like they were qualified, we We 12 of them that showed, and we had a $219 cost per booking, a $384 cost per qualified booking, and a 20% schedule rate, which is typically average. Show up rate was about 57% as I told you, and they sent out about eight
proposals. These proposals totally over like $800,000. I know one was like a massive $300 fee for apartment buildings and some townhouse communities, something like that. And so, it was like 330,000.
Like, the guy was sending great proposals out, and nobody's going to send a proposal to somebody they don't feel actually has a decent project is ready to be even considering a proposal. But, their time to proposal was so long. It took them weeks just to get out a a valid proposal, weeks.
And so, the client, they need an architect. And so, the moment you aren't able to produce or deliver a proposal, they will go find someone else. So, they've lost deals just having the time to proposal being so long. Another big thing was that on these proposals, like there was no follow-up involved, you know, cuz they're so caught up in their architectural day-to-day that they did not follow up. Therefore, they lost fees. And so, again, this might just be a matter of fact of, well, if your day-to-day is so jam-packed, it's like what's so important?
Do you want to make more money and grow in your fees, or do you have a delegations issue where you're handling everything at once, causing you to lose out on potential fees um and actual opportunity? And so, they were sending us proposals but hasn't closed anything. They would not close pull any projects through.
And all of the follow-ups they ended up doing was too late. All of these prospects are already looking at other options because they just took so long. And so, it goes to show, you can even get qualified appointments. You can send all the proposals you want, but this is the worst-case scenario where you close nothing because your sales skills don't amount to what your prospects need from you.
Luckily, and fortunately for these people, we actually help them with that. And but, in terms of their finances and where the the business was, it's like their overhead was so much where they couldn't facilitate any more spend. So, uh with that all to say, it's a clear sales issue, but this is worst-case scenario. Best case scenario is that you actually do follow and take our feedback as to how to properly vet and nurture these leads. And on top of that, we're actually optimizing for the quality of appointments that we must. And so, from
that point, you can close fees as is you know, as uh as simple as 18 days. A lead can come in on the 24th of February, and then on the 18th of March, you'll be actually able to pull that project through for 75,000 as a partner did. So, with all that said, I just wanted to pull up a case study and show you how long does it take to get projects signed. It could be as short as a week to as long as months. It just depends on the kind of quality and obviously your sales skills that are
involved as well. Now, we'll help on the quality side, and we're also helping on the sales side, but you're the one that has to execute. You're the one that has to level up. If the data shows that there is a clear sales issue. So, hope that answers the question about how long it takes to get signed up with with ads, and I'm hoping to see you actually come partner with us that we can help you get you launched and get you closing $75,000 fees in the course of 18 days as well. Ciao.