The architecture, engineering and construction (AEC) industry is quickly evolving. Yet, ongoing labor and supply chain restraints, plus uncertainty around the federal infrastructure plan rollout, make charting a path forward difficult.

Some firms have thrived during this period, transforming their operations with advanced digital technologies. Other firms were slow to adapt—and they risk being left behind.

Hinge Research Institute’s High Growth Study 2022: AEC Edition illustrates the difference in strategy between high-growth and slower-growing firms.

Our study covers 141 AEC firms representing a combined revenue of $40 billion and more than 60,000 employees. The firms are of all sizes and come from different global regions. A vast majority of the companies do business in the United States.

Here’s how high-growth firms have built their competitive edge.

High-Growth AEC Firms Focus on Technology

The pandemic made one thing clear: How we do business will never be the same.

The most agile firms responded with digital transformations that empowered them to survive—and thrive—in the new business environment.

High-growth firms used marketing and business development technologies 20% more than their no-growth peers. They turned to robust customer relationship management platforms, marketing automation and artificial intelligence (AI). In addition, these firms used technology to track marketing and business development activities more frequently than their counterparts.

Half of the companies surveyed used data from their website or other digital sources to score leads and create prospect lists. And 30% of these firms were more profitable than their no-growth counterparts.

These digital technologies helped companies make more informed business decisions. They used metrics and return on investment (ROI) to analyze the impact of their marketing efforts. Dashboards and key performance indicators illustrated the health of their prospect pipeline.

High-Growth AEC Firms Are Not Afraid to Outsource

With the “Great Resignation” and the upheaval of the pandemic, AEC firms today are looking for ways to attract the highly skilled professionals they need.

Our study found that high-growth firms are more likely to consult with outside agencies and freelancers to ensure their marketing needs are met, covering critical skills gaps like design, website improvements and copywriting. The result? High-growth AEC firms have the greatest skills advantage in some of these marketing activities, such as search engine optimization (SEO).

High-Growth AEC Firms are Shifting Their Strategic Focus

What’s the future look like for AEC firms? While mergers and acquisitions will play a role in growing market share, top organizations in our study have turned their focus elsewhere. These firms are studying how prospects will search for and contract services in the future—and they are using state-of-the-art technology to meet their clients’ evolving needs.

While some AEC firms are just beginning to realize AI will change the way they do business, high-growth firms are turning their attention to virtual and augmented reality, big data, green infrastructure and cybersecurity. A new generation of architects and marketers are beginning to utilize real-time 3D technologies and immersive construction tools to help clients and employees visualize design better and increase productivity and innovation in building.

High-Growth AEC Firms Embrace Digital Marketing

This year’s study showed that marketing budgets stabilized after a rapid ascent last year. Still, top AEC firms are introducing new digital techniques into their repertoire to help stimulate growth.

Where do they get the most bang for their buck? The study provides a complete list of their marketing efforts, but the digital techniques show the greatest ROI. The fastest-growing firms invest in podcasts, webinars, thought leadership, social media, video, as well as conducting and publishing original research.

These firms also receive a more significant impact with webinars and keyword research/SEO—critical digital techniques that slow growing firms are not using. Search engine optimization maturity (the more that is invested in SEO) translates to more leads.

Sophistication is Key

The writing on the wall is clear. It’s no longer a question of should a firm undergo a digital transformation, but how to do it well.

Digital techniques give AEC firms the greatest chance to be visible in a highly competitive marketplace.

By creating content, investing in SEO and using social media, high-growth firms increase their visibility and reputation—attracting potential clients and highly skilled employees. Meanwhile, CRMs, AI and virtual and augmented reality will increase productivity and innovation.

The firms that use these techniques proficiently and with sophistication will grow faster and have a competitive advantage over their peers.