CEDIA Issues Call for Benchmarking Survey Participants
The Custom Electronic Design & Installation Association (CEDIA) wants full CEDIA member business owners to participate in its second annual Benchmarking Survey.
The survey will be distributed on March 26 to all CEDIA Full Members; the deadline for submissions of completed surveys is April 30.
The survey includes questions about compensation, financial ratios, sales performance, profit margins, strategic planning, marketing and more. The resulting report “is a valuable tool for gauging the best practices of operating and growing an electronic systems business,” said Larry Dashiell, CEDIA Benchmarking Survey committee chairman.
CEDIA said last year’s survey found, for example, that “residential electronic systems contractors who have written strategic plans experience twice as much growth as those who don’t.” said the organization. Also discovered, said CEDIA, was that “one additional full-time sales employee increases revenue by an average of $1 million, and a written marketing plan will increase the effectiveness of each sales employee.”
“It doesn’t cost anything to participate in the CEDIA Benchmarking Survey, but what business owners get out of participating is a valuable forecasting resource that will help them make critical operations and growth management decisions year-round,” said Dashiell. “There is no other tool out there that allows you to compare your company against the rest of the industry.”
Only participants in the survey will receive the results report when it is completed this summer.
Interested parties should contact Tabatha O’Connor at email@example.com or (800) 669-5329.