Market Research

Selling Benefits Over Features is What Creates Value

Seems like it’s time to confuse you with selling tips but, if we do our job, we’ll clarify what we’re talking about well enough to un-confuse you! Since we focused on selling value just last week, it may seem contradictory to offer thoughts on selling benefits over features this week.

It’s not though since, as the title of this post claims, benefits-based selling creates value for the products and/or services you have to offer.

As the marketing mavens at HubSpot like to say, “Features tell, benefits sell.”

While both are important bits of information for the consumer, the majority of prospects will be swayed by the benefits they will enjoy because of the features. “Features are often technical in nature, describing what the product or service does [or is built]. Benefits, on the other hand, paint a picture of success in the prospect's mind of how it will change their life in some way.”

selling benefits

Features or Benefits – Which closes the sale?

The upgraded features of luxury furniture will often be used to justify the greater cost. Yet, for most homeowners, those things will not matter nearly as much as how they will affect their lives.

After all, will having eight-way hand-tied springs supporting the cushions of a new designer sofa improve their lives in some obvious way? Not bloody likely (as the Brits might say).

Yet, as you (and we) know, such a support system will greatly enhance the comfort of any quality piece. This labor-intensive system will also prolong the life of the cushions as well as the piece overall. Not to mention, these springs even reduce the possibility of squeaking due to years of use.

Hmmm… That looks like we have four clear benefits to the homeowner for a single feature! (That’s what we’re talkin’ about!!!)

Though we came up with four benefits for a single feature above, here’s a proven yet simple formula you can use to create value and close the deal:

Feature + Benefit + Benefit + Benefit = Make the SALE!

In other words, the quickest way to make a sale is to present three benefits for each feature.

Since anyone can list the features a given manufacturer might claim for their products, it takes knowledge and experience to outline the advantages for your clients and prospects. You’re the expert, which means you understand the benefits offered by every feature. Use that expert knowledge and hard-earned experience to close the deal.

The beauty of this approach is that it is not restricted to particular products or services. That is, selling benefits works across all markets and industries. If you find yourself struggling to implement a benefits-based sales strategy, Ted is available for sales coaching and business consulting to the trade. Simply… Get in touch with TD Fall today.

Selling Value Over Price – The Key to Sales Growth and Profits

Whether you call it “value-based” or “benefits-based” selling, the concept is the same: selling value is more likely to close the sale and protect profits than focusing on price.

“Price is what you pay, value is what you receive.” – Warren Buffett

We recently spoke of the need for creativity when selling in today’s volatile markets. This included concepts such as creating a sales pitch that is solution-focused, value-driven, and creatively tailored to the needs of each client or prospect. That is fine as far as it goes but, what do we mean by value-based selling?

“Value-based selling is the approach of highlighting the measurable business values your product or service brings to a customer. It is about finding a match between your client’s needs and your product’s benefits. Value-based selling means putting the customer’s needs above your own revenue, helping them become more interested in your product. The core principle of this technique is to think of your prospect’s problems and desires [before your own].” (NetHunt.com)

This is not some sort of misguided sense of altruism where you sacrifice the goals you’ve set for your business to the needs of your prospects. On the contrary, you should prioritize the satisfaction of their desires as the means of making the sale. If you follow this approach, profit and sales growth will take care of themselves.

selling value

Give Your Prospects a Reason to Buy

Would you like to raise your prices while increasing the odds of conversions? That’s impossible, right?

“In the 1970s, Harvard psychologist Ellen Langer conducted experiments about compliance, trying to discover what makes people agree to a request. In short, Langer’s students asked people to cut in a line for a photocopier with three different requests. A straightforward request was honored 60% of the time, but Langer found that adding a reason for the request increased the compliance rate to 95%.”

This proves that when you give people a reason to buy, they become more receptive when you ask for the sale. By their nature, human beings are predisposed to look for a reason to agree to your requests.

This also explains how the best salespeople on the planet succeed: they give their clients a reason to buy – and they ask for the sale. Further, because repeat clients have already said “Yes” once (compliance), they are far more likely to do so again.

The beauty of this approach is that it is not restricted to particular products or services. That is, selling value works across all markets and industries. If you find yourself struggling to implement a benefits-based sales strategy, Ted is available for sales coaching and business consulting to the trade. Simply… Get in touch with TD Fall today.

Client Retention – Building Relationships is Critical to Keeping Clients

How often have you heard that relationship building is the key to client retention and acquisition? We know we have trouble counting the number of times we’ve read about it. Guess that means it’s important, huh?

Of course, this begs the question of how you build relationships online, as well as person-to-person.

After all, and as we’ve often claimed and continue to believe, the internet is as impersonal a place as can be imagined. By its very nature, it is completely indifferent to your wants and needs and, while it has value to all of us, we have no value at all to it.

Now that we have the metaphysics of our online world out of the way, what does all of this mean when it comes to doing business online?

The simple answer is – it is entirely up to you to learn how to build relationships with your clients and prospects as the foundation of your online marketing strategy. To do this, you will need to understand what compels them to search for solutions in such an unforgiving environment and let them know that you can be trusted to help them.

Clearly, this is no small task.

client retention

Sustain and Grow Client Relationships

Thankfully, we’ve found help for you (and us!).

In an article at Business.com, editor and author Chad Brooks keys us in on how to get this done: “The most important thing in marketing is to retain your most profitable business customers.”

While Mr. Brooks offers a dozen or so valuable ideas to help small businesses improve client retention, we will focus your attention on those we believe to be the most valuable. Our hope is that these will resonate with you and inspire you to follow the link above for more.

  • Continually evaluate your market and network – Research your customers’ markets, needs, and goals. Big data analysis tools should be part of your sales team’s planning. Market trends shift often, and you need to know what strategies to employ to increase shares or enter new markets. Engage customers in product development and enhancement via beta tests, focus groups, and pilot programs. Learn their business habits, purchasing patterns, and requirements for effective proactive solutions.

  • Use a CRM system – A Client Relationship Management system stores client and potential client data in a format that is digestible by your team. It also monitors things such as customer satisfaction and may provide overviews of sales and other metrics. Typically cloud-based, these programs help businesses organize customer relationships and facilitate interactions.

Since existing clients are your most valuable asset, it is critical to your ongoing success that you understand them on both an organic (i.e., in-person) and digital level (i.e., the metrics).

  • Communicate relevant information regularly and effectively – Keep in touch with existing clients with targeted emails and newsletters. Update customers on industry trends potentially affecting them and give your take on upcoming issues. Let them in on your visions for their (and your) success, and then explain your take on achieving it.

Social media is a great connector, so use it wisely to keep communication channels open. However, making a person-to-person connection means much more. Be a person, not a talking head on a website. Humanity trumps digital every time.

  • Be accessible and responsive – Talk and listen to customers to maintain a dialogue and build a trust-based relationship. Make it easy for customers to reach you. When they contact you, make it a point to return calls and emails promptly. Implement a customer satisfaction policy that provides a way to resolve and remedy problems and issues. Provide support, service, advice, and information. Train team members on how to manage calls efficiently and effectively so customers have their concerns addressed no matter whom they reach at your business.

  • Become the “Go-To” person in your market – Develop skills and knowledge that make you an authority for your customers. A reputation for expertise means the ability to provide valuable resources to clients unobtainable elsewhere, especially your knowledge. Look for ways to add value, be a real partner, and help your customers achieve results. Provide guidance even when there is little chance it will mean any immediate business gain for you. Doing so almost always pays off down the road.

  • Redefine your concept of who and what a client is – Clients are much more than a roster of potential purchasers of products and services. Retaining customers requires fostering long-term relationships over pursuing short-term money-making possibilities. Recast the relationship as more of an extended partnership. Then be prepared to meet client needs by adjusting your business services as necessary.

Existing Clients are More Likely to Buy Again

There’ are a few reasons we are so focused on client retention. Based on the latest market research, designers and furnishing dealers will do themselves a favor if they can devise ways to retain or reengage existing and past clients. Why?

  • New clients are 7x more expensive to acquire than keeping or reengaging existing or past clients.

  • Probability of converting an existing customer is between 60% &70%.

  • Probability of converting a new client is just 5% to 20%.

  • Repeat clients spend an average of 33% more than new clients.

  • Repeat clients are 60% to 70% more likely to buy an up-sell.

These are just a few of the reasons that re-engaging and working to establish customer loyalty is critical to the growth of your business.

Clearly, there is work to be done to improve the future of your business. There is also further guidance available if you choose to use it. Ted remains available for business consulting to the trade. We think he is a master at both relationships with clients and retaining them. So, feel free to… Contact him at TD Fall today..

Home Remodeling Trends – What to expect this New Year

Home remodeling trends seem to shift regularly, yet often subtly, making them difficult to track before they shift again. While opinions from “the Experts” have value, we’ve long believed that direct experience from consumers, designers, and furnishing dealers tends to be more reliable.

That is why we were pleased to discover this article from the largely consumer-focused online home design magazine Houzz.com. In it, they share what they believe to be 35 Home Design Trends on the Rise in 2023, gleaned from both homeowners and design pros.

Among the many color palettes available in the various colors of the year for 2023, your potential clients will likely prefer a mix of colors that are warm and relaxing.

home remodeling trends

Top Home Remodeling Trends

Always comfortable with the use of contrasting, if not outright clashing, designs, the trend toward what they describe as "Modern Rustic" styling appears to lead the way this year. This particular trend may include, but is not limited to:

  • Natural wood finishes for cabinets and other built-ins which forever have and will continue to add warmth to any space.

  • Soft shades of blue, green, and/or magenta color palettes offer a welcome sense of relaxation and warmth that appeals to many homeowners.

  • Layered textures, which should include:

  • Large area rugs can anchor a space and provide a jumping-off point for building a cohesive color palette and adding texture and softness.

  • Wallpaper is popular because it adds texture and bold colors where needed (or wanted).

  • Warm and comfy living experiences, overall.

  • Sustainable materials – Although it's hard to predict the breadth, depth, or longevity of this trend, at the moment, many homeowners feel the need to become part of this growing trend.

In today’s topsy-turvey, high-stress world, homeowners are searching for increased stability, comfort, and even a sense of joy in their homes. They’re trying to create a personalized haven, a place of respite and relaxation where they can reenergize for the day ahead. Not just a comfortable house but a true home, in every meaning of that word.

The home remodeling trends we’ve shared today are an important starting point for appealing to your target audience. Stay tuned for our next post or, feel free to check with us… Contact TD Fall today.

Sales Trends for 2023 – Can We Trust the Experts?

There is a problem with predicting trends and outcomes, whether in politics, sports, or sales trends. First, the future is malleable and variable. Second, expert predictions are usually based on historical trends.

Unfortunately, while the past can certainly influence the future, it may only foreshadow things to come without offering an accurate picture of the next week, month, year, or the next few years.

Then we have the number-crunchers. Statistical analyses are great as far as they go yet, changing environments over time can skew toward new trends that are unpredictable based on historical models.

So, what does this say about the expert predictions we hear and read about sales trends for 2023?

As always, you should take such prognostications with a grain of salt and remember that interior design and furnishing sales are local businesses so national trends may mean nothing in your market.

sales trends

Broad-based Sales Trends for 2023

With all that said, there are some broad trends that can be seen as influencing past sales trends and can reasonably be expected to continue for at least the next year.

With thanks to the marketing experts at Hubspot.com, we would like to share what we see as the top five sales trends from their latest report:

  1. Specialization – Though it seems counterintuitive, targeting a narrower market is often a great strategy. “In modern sales, ‘the riches are in the niches.’ In other words, when you try to appeal to everyone, the opposite happens: you end up resonating with no one.”

  2. Culture – One thing never goes out of style for a successful business: your sales culture. “Building a high-performing sales team should never fall to the bottom of the priority list. After all, how much a salesperson sells, how productive they are, and how long they stay at a company are all influenced by sales culture.”

  3. Persistence – A never-give-up approach to sales will be critical to overcoming the infinite range of appeals and influences on clients and prospects. “Rarely do we make a sale at first contact with a prospect – although that would be nice. In reality, [making a sale is] a process that requires multiple touchpoints. But here's the problem – the average salesperson makes only two attempts to reach a prospect.”

  4. Relationships – Building relationships and working with repeat clients should be a priority this year. “26% of sales professionals say existing customers took priority over finding new ones [last] year and we predict this trend will carry over in 2023. Almost 90% of sales professionals try to upsell their customers. The result? Almost half of [those] companies report up to 30% of their revenue comes from upselling. When it comes to cross-selling, 80% of sales professionals use this tactic. 42% of companies report up to 30% of their revenue comes from cross-selling.”

  5. Personalization – We’ve previously mentioned the importance of a personalized approach to sales. “In 2023, personalization [will be] the name of the game in sales. In fact, more than a quarter of sales professionals believe personalization is the biggest change in the sales field this year. A good place to start is with your trusty CRM, which can put all that data to good use to help you paint a clearer, more holistic picture of your customers. It's no surprise that 22% of sales leaders want to leverage their CRM to its full potential this year.”

If you find yourself struggling to create a sales culture for your business that includes these important elements for making sales, Ted is available for business consulting to the trade. Simply… Get in touch with TD Fall today.

Know Your Target Audience – What to do, what to do? (Pt 3)

In today’s post, we continue, and bring to an end, our series on how important it is to know your target audience, with Part 1 here and Part 2 here. Based on the past few years’ experience, it's clear that consumer attitudes and preferences are shifting and realigning quickly.

As you work to develop and market your brand online in the new year, it may be time to pivot toward alternative tools and marketing channels. Here, rather than using the article we linked to before, we are offering data points and expected marketing tactics taken directly from HubSpot Blog's 2023 Marketing Strategy & Trends Report.

your target audience

What Changed in Marketing During 2022

  • More marketers have made pivots part of their plan.

  • Data-informed marketing strategies have become vital.

  • More brands aim to create content that reflects their values.

  • Marketers increasingly use CRMs to track and organize data.

  • Focusing on customer experiences bridges the gap between service and marketing.

  • Social media DM strategies are growing in popularity.

  • Building online communities around your brand is becoming critical to engagement.

It’s clear that there have been significant changes in marketing strategies by major marketing influencers as a response to the shifts in attitudes and preferences by consumers.

The Top Marketing Trends of 2023

The top trends marketers are currently leveraging are short-form video, mobile-friendly web design, creating content that reflects their brand’s values and using social media DMs for customer service. Not far behind are SEO, mobile messaging, influencer marketing, and selling products directly in social apps.

From the report:

  • Short-form video will see the most growth in 2023.

  • Influencer marketing will continue to grow its high ROI.

  • Branded social media DM tactics are growing.

  • Website SEO continues to shine.

  • Marketers will continue to humanize their brands.

  • Marketers will benefit from data in 2023.

  • These data points illustrate the tactical shifts we can expect to see from marketers in 2023.

The Top 3 Marketing Channels of 2023

Finally, the report shares the most important marketing channels we will see being used this year, with social media marketing clearly dominating all marketing trends.

Marketers leverage an average of four different marketing channels in their role. Social media is used by over 42% of marketers, making it the #1 channel marketers are currently leveraging. It also has the highest ROI of any channel and will grow significantly in 2023. Additionally, one in four marketers say they use social media shopping tools.

The Top Social Media Marketing Channels for 2023

  1. Instagram

  2. YouTube

  3. Twitter

  4. TikTok

  5. LinkedIn

Further, one in three marketers will be leveraging their own blog or website, as well as SEO, to land on SERPs. Meanwhile, 32% use email marketing.

Blogs, social media shopping tools, and influencer marketing are neck and neck for the highest ROI of any marketing channel.

Getting to know your target audience remains just half the battle. Reaching where they live, surf (and troll?) is paramount to building your brand and converting them.

If you suspect you need help with these strategies and tactics for 2023, Ted remains available for business consulting to the trade. Feel free to… Get in touch with TD Fall today.

Know Your Target Audience – The Challenges We All Face (Pt 2)

Today we continue our series on how well you know your target audience, using data and metrics from the HubSpot Marketing Survey for 2022.

In Part 1 of this series, we shared some depressing data about trends among marketers who lack solid information on the make-up and lives of their potential clients. This is data that is necessary for creating an ideal client profile of your perfect prospect, which would be used to direct all of your content creation.

As the article articulates, “The biggest challenges marketers face in understanding their target boil down to two main issues:

  • New Data Privacy Measures: Data privacy regulations are reducing marketers’ access to the consumer data they need. At the same time, consumers are less trusting in sharing their personal data.

This results in marketers missing out on critical data on their target audience, from their shopping and media consumption habits to their basic demographic information.

  • Evolving Audience Targets: Consumers’ lives have changed drastically over the past few years, and with a looming recession, their habits, attitudes, and preferences are likely to continue shifting quickly.

The two challenges above are difficult to overcome because they're actively developing as data privacy regulations tighten and unprecedented events that change consumer behavior continue.”

your target audience

Overcoming These New Marketing Challenges

All is not lost, however. The HubSpot author, Maxwell Iskiev, provides us with a few steps we can take to moderate the negative influences of these outside sources.

Here are the answers to his question: “How Can Marketers Improve Their Data Strategy?

  • Gather First-Party Data: A great solution to increased data privacy regulations like Google’s planned phase-out of third-party cookies is gathering your own first-party data.

Since first-party data comes directly from your customers, it offers high-quality insights about your audience and allows you to create a personalized experience for them.

  • Use a Single Source of Truth for Marketing Data: Only 27% of marketers say their marketing data is fully integrated with their systems and tools, and as we saw earlier, data not integrating well is a top challenge for marketers trying to understand their target audience.

Disconnected marketing data is problematic because you don’t have the full context needed to make data-driven decisions. On the other hand, a single source of truth offers a holistic view of your target audience by connecting all the data points you have.

A single source of truth also improves efficiency by making marketing data more easily accessible for marketers and their collaborators.

  • Keep Your Data Fresh: We talked about how consumers’ lives are changing rapidly, and marketers need up-to-date data to keep up.

The interests, habits, and attitudes of your target audience probably changed several times over the course of the pandemic. And with a recession looming, your audience will likely change again – so whatever data tracking method you use, make sure your data is regularly updated to keep a pulse on your customers in real-time.

Plus, you need up-to-date information on your target audience so you can pivot your marketing strategy and message in response to the changes your customers are experiencing.”

Stay tuned for our next post in this series, in which we will share tips from the article on how to adapt and enhance your marketing strategy in response to these challenges.

Statistical analyses of data are fine as far as it goes. However, if you continue struggling with ways to get to know your target audience, Ted is available for business and marketing consultation. With more than 25 years of experience in the trade and an exceptionally empathetic approach, he is sure to find ways to help.

Just click here to… Get in touch with TD Fall today.

Know Your Target Audience – Where Too Many Marketers Fail (Pt 1)

Are you among the few online marketers who know your target audience well? We ask this question only after reading a recent article from the SEO and Marketing Mavens at HubSpot that claims you probably don’t!

It should go without saying, yet must be repeated often, that developing an ideal client profile of the types of people you most want to work with is critical to your success when marketing your business online. Yet, a staggering percentage of businesses lack even the most basic information on their target audience. Without this and other important data, developing such a profile for targeting your online content becomes difficult, if not impossible.

To quote the opening of the article, “In our annual survey of over 1,200 marketers, we found that just 42% know the basic demographic information of their target audience, like their name, gender, and location.”

What Does the HubSpot Marketing Study Tell Us?

Unfortunately, the numbers from this year’s HubSpot study are not in your favor. Although all is not lost if you heed their warning and respond positively.

For example:

  • “A whopping 82% of marketers say having high-quality data on their target audience is important to succeeding in their role – but more than half of them say they're missing key information.

  • Fewer] than half of the marketers surveyed know their audience’s interests and hobbies, shopping habits, the products they are interested in buying, their purchase history, and where they consume content.

  • Only 31% know the online communities their target audience is a part of and even [fewer] know the challenges they are facing.

  • Just one-fourth of marketers know the social causes their target audience cares about - a huge, missed opportunity when it comes to expressing your brand’s values, especially when marketing to Gen Z and Millennials.”

As you can see from the image below, in addition to lacking basic data, just 29% of the marketers surveyed claim to know their potential client’s pain points! Further, just 41%, know where to reach them online!

know your target audience

Data Can Inform but Rarely Offers Solutions

These are dismal numbers. In fact, they are so bad, we can’t help but wonder how it is that any of these marketers reach their target audience at all.

So, now that we’ve depressed you with these data, and made you wonder if your marketing efforts coincide with them, we’ll end this post here. That is not to say we’re finished with the subject, however. It’s just that we believe there is too much data to unpack in a single blog post.

Take the time to digest this information, then return for our next post in this series where we will dig deeper into the metrics and, eventually, offer ideas on improving your marketing strategy. We’re talking about things that actually work!

Statistical analyses of data are fine as far as it goes. However, if you continue struggling with ways to get to know your target audience, Ted is available for business and marketing consultation. With more than 25 years of experience in the trade and an exceptionally empathetic approach, he is sure to find ways to help.

Just click here to… Get in touch with TD Fall today.

2023 Colors of the Year (Pt 2) – It’s a Pick ‘em

Continuing our look at the variety of Colors of the Year for 2023 (which we began last week), we’ll be taking a look at next year’s offerings from Sherwin-Williams, Butch Boy, Benjamin Moore, and Behr paint companies.

Again, instead of offering us shades of a single color, or even narrowly defined palettes as we’ve seen in the past, the major paint manufacturers are presenting us with more of a mix of categories: soft neutrals, warm pink shades, and rich, deep blue/greens. According to a recent article at the consumer-friendly design site Houzz.com, that is.

2023 colors of the year

Redend Point by Sherwin-Williams

“If less intense pinks are more your jam, take a look at Redend Point [the 2023 Color of the Year from Sherwin-Williams]. It’s a medium-dark sand color, which makes it neutral, but it has a soft coral-pink undertone that gives it a twist. This is not your typical tan.

“The hint of warm pink allows the color to serve as a pleasing backdrop to hues that are more pink- or orange-forward, as seen here. But it’s still a neutral, and as such, it can work with a variety of other colors, especially those also on the warmer side of the color spectrum.”

Sherwin Williams color of the year

Rustic Greige by Dutch Boy

“Along the lines of Redend Point, Rustic Greige [from Dutch Boy paints] is a sandy tan with a kiss of pink. These moodier neutrals seem to be gaining popularity in interiors, likely as a reaction to the long-popular bright whites and cool, silvery grays.

“I think this is a good choice for a neutral background wall color. You can then mix in touches of more vibrant colors or stick with a warm neutral palette and add variety with different shades of ivory, beige, tan, and brown.”

Dutch Boy paint's color os the year

Raspberry Blush by Benjamin Moore

Benjamin Moore [paint’s] selection also is a warm pink, but this one is super bold and vibrant.

“This extroverted hue works best in public areas of a home where an energetic vibe is desired. It’s a conversation-stimulating color for the dining room — good for those who love to entertain.”

Benjamin Moore color of the year

Blank Canvas by Behr

“If you’re seeking a clean slate for 2023, you can’t go wrong with Behr [paint’s] choice of Blank Canvas. It’s pretty clear Behr is making a statement with this choice. And that statement is that most of us probably could use a fresh start.

“This go-anywhere off-white has a slightly warm cast, making it a versatile jumping-off color that can be paired with just about any other color. But because it has a touch of warmth, it also can be used as the dominant color in a room and not feel too cold or sterile.”

behr color of year 2023

If these 2023 Colors of the Year fail to resonate with you, feel free to check in with us for our further impressions of these categories of colors that are trending for next year. Just click here to… Get in touch with TD Fall today.

Design Industry Trends – Shifting Priorities and Practices (Part 2)

As promised last week, we’re continuing to explore shifting industry trends based on an article at BusinessOfHome.com. In it, author Caroline Bourque shares insight into the results of a survey of some 900 interior design firm owners relative to shifting design industry trends, priorities, and practices.

It should go without saying (yet here we go saying it anyway) that the past few years have been some of the most challenging in the history of the design trade. From what some believed to be the end of the design business to a relative boom, challenging times persist. Whether you find yourself dealing with twitchy clients or coping with ongoing supply-chain issues, the survey reveals a few other hills to climb moving forward. (We know where you can get some great hiking boots!)

design industry trends

Increasing Labor Costs Forcing Design Rates Upward

“As [interior design] firms increase compensation, squeezing a business’s net profit and margins, they’ve also been forced to raise their rates – a decision that’s being met with some client pushback.”

This “pushback” from clients appears to be a direct result of those aforementioned escalations in interior design fees and “long timelines in the wake of [ongoing] supply chain issues and material shortages.”

The response from many designers has been an exploration of set fees. “While the report reveals that 80 percent of designers still charge hourly fees or hourly plus markup, [other] firms are beginning to trend toward fixed fees, which are used solely or in addition to hourly rates by 40 percent of respondents [to the survey].”

This then creates a new problem for a significant number of designers: undervaluing their services and setting their fixed fees too low. “Nearly two-thirds of all firms charge $200 [per hour] or less, with most charging $150 [per hour] or less. Meanwhile, the majority of smaller, newer firms charge less than $150 per hour.”

Administrative Challengers are Increasing

“Changing billing practices was one of the top strategies to address current business challenges,” for a majority of respondents. Further, “maintaining contact with current and former clients; increasing networking with local building and real estate professionals, contractors and service providers; and improving social media presence” were also problematic.

“Along with a detailed look at information like average gross sales, salaries, and benefits, the report also includes observations and insights about this period of new industry highs and lows.”

If you have questions about these design industry trends and how they are affecting your business, Ted remains available for business consulting to the trade. Simply… Contact TD Fall today.