Interior Design Budgets – A Designer’s Nightmare Come True

Too often, discussing interior design budgets with potential clients can be a nightmare. So many homeowners think they know what a job is worth yet may not have the knowledge to understand the full range of steps needed to match their dreams. So, while they feel like they “know” what a project should cost – and that may be all they’re willing to spend – it’s your job to educate them about their misconceptions and help them move toward a more realistic number.

Yeah, waking from that nightmare is a huge relief!

Take Command of Conversations About Interior Design Costs

Good thing for us, the folks at Business of Home corralled five interior designers to explain how they deal with unrealistic expectations about design costs with their clients.

Needless to say, it all begins with communication and education with plenty of follow-up during a project, if you’ve accepted the job. Then too, it may not be worth your time, energy, and frustration of the budget is unrealistic. Sometimes, as you’ll soon see, you just need to say, “No thank you”.

This is true for Robin Gannon of Robin Gannon Interiors in Lexington, MA:

“Sometimes that’s just what their budget is, and they’re not a fit for us. As a firm, it’s important to understand what you do and what you do well. You can’t sacrifice the quality of what you do simply because of somebody’s budget.”

The same is true for Helena Brana of Brana Designs in Corona del Mar, CA:

“Transparency with our clients is one of our founding principles. We discuss clients’ budget expectations very early in our communications and estimate costs based on our experiences with comparable projects. [Not all] clients are the right fit for us, and it’s better for everyone to find out early to avoid disappointments later on.”

Adjust Your Design Clients’ Expectations

Doing this is a priority for Daniela Holt Voith of Voith & MacTavish Architects in Philadelphia, PA:

“We seek to set client expectations not just about budget, but also about schedule and fees. We can design a beautiful, functional project for a client based on all the listening in the world, but if it’s not in the budget, it’s a nonstarter. As much as you never want to walk away from an opportunity, if there’s no consensus, it’s better to part ways amicably.”

Handling the budget conversation should be done up front, says Johanna Barger of Johanna Barger Design in New York:

“Design is a very creative field, but it is also a business – my business. And I never shy away from budget discussions. I take the financial aspect of the process very seriously, and one of the first discussions in our initial meeting is cost expectations.”

And further, she says:

“Many clients do not have a sense of the financial commitment it takes to create what they see in magazines or on social media. Part of my service is to educate the client through direct, transparent conversations about numbers while also realizing their design aspirations.” (emphasis added)

Finally, we have these comments from Alison Downey of Downey Interiors in New York:

“The project budget is always part of our initial conversation before moving forward. As our fee is commensurate with the budget, and [considering] clients don’t always understand the vast range of options when it comes to price points, we take the time to educate them from the get-go. In order to determine a realistic level of investment [rather than] ‘budget’, we prepare a project plan that includes a high and low total reflecting the items we anticipate will be used.” (emphasis added)

She continues with:

“If the client doesn’t feel comfortable moving forward, we need to determine whether the project is a fit [for us]. When a project doesn’t align with what’s needed for a successful outcome, it likely won’t be a good experience for anyone involved. That said, we wholly respect a realistic budget that is set at the beginning of the project. We work hard to be as accurate as possible and guide the client when they are veering off course. It is our job to check in with them, let them know where things stand financially, and ensure they are well-informed.”

Conversations about money can be tough, as can dealing with a potential client’s expectations based on their interior design budget. Yet, as we all know, they must take place and must be frank and open. Anything less would be not only a disservice to your client, but to yourself, as well.

If you find yourself regularly getting caught in the nightmare surrounding interior design budgets with clients, Ted is available for sales coaching and business consulting to the trade. Simply… Get in touch with TD Fall today.

What Does Success Look Like… To You?

Pretty much everyone wants to be successful, right? Few people say that, as a child, they wanted to grow up to be a failure but, success has no universal meaning. That is why the most popular question among consultants, mentors, and coaches is usually: What does success look like?

You probably noticed the part that’s missing there: To you.

For us, that’s the most important part of the question because each of us has our own definition of success. “A state of prosperity or fame”, which is found in a dictionary, seems far too narrow and narcissistic. “An event that accomplishes its intended purpose” is too shallow. “An attainment that is successful” too circular (success is about being successful).

Plus, in the face of our new changing world, each of us will surely answer that question differently than we would have just a year or two ago.

So, perhaps we should ask instead: What does success look like – to you – among shifting today’s paradigms?

Set a Flexible Business Vision

While it may be true that life seems like it hasn’t changed much for those of us who work in the virtual world, many feel isolated, and others are living in fear. Moving forward, there may be some serious residual anger from folks who lost income or loved ones. Even relationships are being stretched to their limit in some cases, with differing views on causes and potential solutions causing conflict.

With these things in mind, preparing your business for our current business environment should be high on your list of To-Do Items now. In other words, whatever you're doing now to keep your business viable, be conscious of the fact that your short-term choices may have long-term consequences. So, be prepared, and be flexible.

Without sounding too negative, there could be some significant changes in how you're able to do business. Granted, for first-world economies like ours, a dystopian future is unlikely. Yet, you should probably take into account the range and severity of the challenges others are facing.

Whatever your niche, your vision for the future of your business should include the evolving needs of potential clients, such as:

• Safety – Set conditions that ensure the safe operation of your business.

• Authenticity – Be sincere in all you do, and respect others’ need to express their needs, fears, and frustrations.

• Stability – Be the rock they can rely on, the stable foundation from which to move forward.

• Reliability – Bring back as many familiar faces as possible and commit to being there for your clients.

• Meaning – Significant changes require a significant response. Be true to your vision of the future and share it freely.

It should also be mentioned that, if you work with a team, they too will seek these qualities (and more) from their leader. (Maybe our recent blog post on goal setting for your business will be helpful.)

It’s becoming a bit of a cliché in the world of sports, but it is no less true that, for a leader, the greatest ability is availability. Be available. Be visible. Be relatable.

Are you struggling to decide what success looks like for your business? Maybe we can help. Simply… Get in touch with TD Fall today.

Business Goal Setting Tips (How to Set Up Your Business for Success)

Advice about goal setting for your business (and life) is ubiquitous among coaches of all types, and that’s a good thing – sort of. This is especially true in the new year.

The problem develops when you recall that, on average, eight of ten yearly resolutions are never realized. In fact, they are usually forgotten as early as February each year. That is a stunning lack of success in the face of so much “expert advice” about how important it is to set goals.

The possible reasons for this failure rate tend to be more a matter of opinion than of scientific fact but, one thing must be said… If you regularly struggle to set and reach business goals, it’s because you’ve not been taught how.

Wait, wut?

Yes, Virginia. Goal setting is a learned skill that requires training and practice. It is not “instinctive” and is barely intuitive. Despite our tendency to endlessly look to the future, hoping always for good things to happen, we are frequently blinded to the present by our focus on tomorrow, next week, next month, and next year.

In other words, we lose focus on the practical day-to-day steps that need to be taken to reach the end result we hope for; that One Big Goal every coach tells you to set each year.

Successful Goal Setting Starts with Small Steps

Turns out, successful goal setting requires you to focus on the small steps you need to take to get to your Big Result; the boring, daily routine that will eventually get you where you want to go.

While this may fly in the face of currently popular belief, the truth of such a claim should be obvious. After all, if you're climbing a ladder to reach the roof of your house, you have to do it one rung at a time. The same is true for reaching your One Big Goal; there must be a clearly outlined, step-by-step process to get there or you will fail again.

You Need a Goal-Setting Strategy

So, rather than repeating those steps here, let’s take a look at what your goal-setting strategy should be:

• Be realistic – No matter how high you want to reach, if your goal is unrealistic, you’re setting yourself up to fail and you will never get there. Big goals are fine because they give you something worthwhile to aim for. However, they have to be reachable, or you will remain in that 80% of folks who never reach their goals.

• Set positive goals – Setting negative goals for the new year is probably the most popular approach; to lose weight or quit smoking for example. These are rarely successful. Instead, it’s better to put a positive spin on the changes you want to make: to get more exercise, to eat healthy, to wear the patch, etc. Turns out, a positive mindset is far more powerful than negative thinking.

• Recruit others – Sharing your goal with others will help you stay focused. Sharing it with your team will enable and engage them in helping you get there. Do NOT be shy about telling someone about what you hope to achieve. Instead, get them on your side and allow them to encourage and support you in your efforts.

• Make a plan – You’ll need to outline the steps along the path toward the result you want to achieve. It’s important to always remember that you're in the middle of a process here; a progression from point A (setting your goal) to point B (the realization of your goal). There are no shortcuts.

• Daily follow-through – If small daily goals are the secret to successful goal setting, then following through on them is the only way to get there. This is your responsibility and only you can ensure these tasks are completed. The benefits of being diligent are outlined below.

Of course, all of these ideas are great in the abstract but, that begs the question of how to put them into practice. Below is a very simple example of how to reach a new business goal for the year.

Your Big Goal: Increasing Income!

• So, at the top of the pyramid: your Big Goal = Boost Income 25% this year

• Next level of the pyramid: 4 Quarterly Goals = Boost Income 6.25% each quarter

• Next level of the pyramid: 12 Monthly Goals = Boost Income 2.1% each month

• Next level of the pyramid: 50 Weekly Goals = Boost Income 1/2 of 1% each week

Do you see how easy it is to increase your income by 25% next year – IF you think of doing so in terms of Less Than 1% per week? Your half-a-percent per week goal quickly becomes more than 2.1% per month, which is more than 6% each quarter, which will easily surpass your 25% Income Boost for next year’s Big Goal!

Easy peasy! Who knew successful business goal setting for boosting your income could be so simple? (We did. LOL)

Are you looking for more tips on goal setting for your business, or other marketing ideas? Ted is available for business consulting to interior designers and luxury furniture dealers across the US. Simply… Get in touch with TD Fall today.

Bye, Bye Resolutions & How Acceptance Lowers Stress

That’s right, it’s time to say bye, bye to your New Year’s resolutions and accept that making them didn’t work out – again! Does this sound like you? Yeah, you’re not alone (believe it). You’re also not alone if you’ve made resolutions every year for decades and rarely (if ever) followed through on them.

But that’s OK because, depending on whom you believe, something like 80% of resolutions goes bust within the first month or two of every year. This begs the question of why we keep doing the same old thing and expecting a different result. (We all know what Einstein said about that, right? Coo-Coo for Cocoa Puffs!)

Why does this happen so consistently? Well, stated simply, it’s because you're human: life and work get in the way while enthusiasm fades. Other priorities kick in. Old habits persist and are hard to change. Limiting beliefs hold you back. It’s hard to let go of last year and focus on this year. You always aim too high and fall short. The list is almost as long as the number of people who make resolutions each year.

So, what to do? What to do?

Change Your Mindset and Accept Slower Change

Making changes is NOT easy. Truly, old habits die hard, and familiar ways of thinking (and feeling) become like that worn-out but comfy old sweater you can’t throw away. Yet, it’s also true that sometimes what’s familiar no longer works – and that’s when changes need to be made.

(BTW… Though this is a business blog, these lessons apply to both your personal and business lives.)

In practical terms, change is stressful and can be frustrating. Failing to reach goals is discouraging and the resulting negative expectations lead to a self-fulfilling lack of faith in yourself. All of this can lead to a persistent, negative mindset that virtually guarantees your goals will not be realized.

“The unfortunate truth is that change, all change, entails some degree of emotional friction, which in turn generates a ‘heated state’ we call stress. Whether you're feeling anxious, depressed, frustrated, fatigued, weak and out of control, or simply bored, emotional friction (stress) becomes the high-octane fuel of failure. When it comes to handling the stress involved in change, many well-adjusted, happy, overweight, out-of-shape people share the fundamental problem of self-sabotage.” (USNews.com)

So, unless you change your mind first, you can’t expect change or acceptance to follow.

Power of Positivity & Successful Goal Setting

Professor Carol Dweck at Stanford University has found that when it comes to achieving success, more important than believing in our abilities is the belief that we can improve upon our abilities. While much has been written about how these beliefs shape our individual success and well-being, her latest research suggests that these beliefs also exist within our organizations, and shape our ability to create innovative, risk-taking cultures and have happier employees.

Research done at Harvard has shown that, if you train yourself to see stressful situations as challenges rather than barricades, a situation to overcome rather than an impossible barrier, you are far more likely to experience “good” stress rather than “bad” stress in that situation. Doing this then leads to the release of the “feel good” enzyme dopamine which leads to a more positive mindset.

Further, as presented by researcher and psychologist Shawn Achor in his entertaining and very popular Ted Talk, there is also ample research that shows a positive mindset affects every aspect of life, including work. Positive people are happy people and happy people are successful people – not the other way around.

As he explains, and as the latest research into the structure and function of the mind suggests, success does NOT lead to happiness; happiness leads to success!

In other words, mindset is the key to success in life and business because a positive mindset leads to:

• 23% Reduction in stress

• 39% Better Health

• 31% Increase in productivity

• 34% Increase in positive social interaction (relationships)

• 37% Increase in Intelligence

“Huh?” Yes, take a look at that last one again. A positive mindset will not only reduce stress, improve your health, make you more productive, and improve your relationships – being positive will also make you smarter!

While there is plenty more to be shared on the relationship of mindset to successful yearly resolutions and goal setting, we’ve pretty much hit the limit for a blog post. So… stay tuned for more in future posts.

Looking for more tips on goal setting for growing your business? Ted remains available for business consulting to interior designers and luxury furniture dealers across the US. Simply… Get in touch with TD Fall today.

Client Acquisition Tip – Take The LEAD & Get More Clients

Despite the ongoing disruption to many of our businesses and lives, we are convinced that things will improve, and we will return to a more normal state of affairs. Why do we believe this? Because it’s what we do – what human beings do. Always have and always will. With that in mind, we’d like to offer a client acquisition tip that will almost certainly help you grow your interior design and/or luxury furnishings business.

• Now, since acronyms are all the rage these days, we’ve developed a li'l sumpin’, sumpin’ we call the LEAD approach to client acquisition:

• Listen – to your target audience and they will tell you how to convert them.

• Educate – your audience on solutions to their pain points.

• Adapt – to the needs of a broad client base.

• Develop – services or products that meet specific needs.

These steps will become the foundation for a fully integrated, well-conceived approach to generating leads that will address the needs of your target audience. This will enable you to communicate with them as individuals, not as a vague, superficial, poorly defined collection of personality types.

4 Tips for Improved Client Acquisition

Let’s dive a little deeper into the practical steps of the LEAD approach; steps you can take to effectively generate leads for your business in virtually any business environment:

• Listening includes increasing communication – in both directions. As we’ve mentioned before, prior and existing clients may be your greatest asset. Since they already know and trust you, they are an invaluable source of information about the value of the things you do – as well as a resource for referrals. Engaging with them will enable you to speak to them about alternative offers, explore new value-added services, and make yourself invaluable to them and prospective clients.

• Education and learning are equally valuable – to your audience and you. Learning about the challenges your clients are facing will create opportunities for you to offer increased, targeted support. The current situation could create life-altering changes that will need both short- and long-term solutions. Regularly scheduled meet-ups with clients, prospects and team members should become the norm.

• Adapting to the needs of a broad client base now includes adjusting to new challenges. This is where you will begin to employ some outside-the-box thinking since new challenges are going to need new solutions. You may need to get some online training yourself, as a means to offer more services and greater value. You may want to offer special deals, temporary rate reductions, and freebies to generate interest. You may even want to reexamine your values in an effort to discover what really matters – to you and your clients – in these challenging times.

• Developing new products and services will be critical to your success. This will likely include broadening your own skill set, as well as finding new ways to present them. This is especially true for service providers, like interior designers for example. You may need to expand your services menu to use your entire skillset, as you figure out new and inventive ways to offer value to your clients.

Many design clients struggle to articulate their vision for a particular space, which is where you come in. Find creative ways to offer them the greatest value by presenting practical, real-world solutions to their pain points. Assure them that you’ve spent years building relationships with dependable contractors and furnishing suppliers that enable you to deliver as expected in a timely, cost-effective manner.

Even if staying in touch with clients and team members regularly involves nothing but sharing stories and commiserating, staying engaged has value. Being visible will keep you front-of-mind with your audience as the economy and markets return to normal. Showing you care will build trust and loyalty, which will allow you to retain and acquire clients more smoothly.

And yes, we believe that optimism is key because we know that life and business WILL return to normal and, when it does, you want to be ready.

Are you looking for more client acquisition tips or other marketing ideas and support? Ted remains available for business consulting to the trade. Simply… Get in touch with TD Fall today.

Professional Copywriting – Outsource it and Save Mental Energy

Specialists dominate our economy, whether online or in the “real world”. There’s a reason for this and it’s pretty simple: we recognize that no one can be an expert at everything. For example, baseball pitchers can’t hit; quarterbacks can’t catch; public speaking coaches aren’t dieticians. And, more important for us today – none of them are or excel at professional copywriting.

Now, when it comes to types of copywriting, there are several areas where professionals will specialize. Some copywriters focus on website copy. Others spend their time creating landing pages and sales pages (and some of those go further, specializing in products over services, and vice versa). Some writers are great at creating emails and newsletters for you and some are great at writing blog posts for you.

Finally, there are the ghostwriters. These are specialists who can write “in your voice” and can speak to your audience in ways you simply can’t. They are excellent collaborators who can literally write a book for you. They can also generate high-value opt-in content on a variety of subjects you can give away to build your email subscriber list.

Stop Wasting Mental Energy on Onerous Tasks

Did you know there is an increased cost to doing tasks that you struggle with, or simply hate to do? Besides the time wasted and the focus diverted from areas where you excel, there is a huge price to pay in mental energy!

Entrepreneurs and small business owners are often proud of their ability to multi-task, taking on any challenge that affects their business at any time and dealing with it effectively. But there’s a real cost to working this way, in both emotional and mental energy that is physically draining.

Why? Because, as explained in an article at PsychologyToday.com, “Apparently, the human brain is not designed to be able to do two or more things at once.” This is especially true if the tasks are difficult or dreaded.

Further, “Multitasking involves two distinct stages: one is goal shifting and the other is rule activation. Goal shifting consists of deciding to focus on another task than the one you are currently [working] on. Rule activation consists of turning off the ‘rules’ for one task and turning on the ‘rules’ for another.”

What does all of this have to do with outsourcing copywriting for your business?

If you find writing particularly difficult and taxing, you're wasting mental energy that could better be used to – oh, maybe get more clients – or devote more time and energy to the ones you have.

Why Outsourcing Copywriting Makes Sense

Spending so much time and energy on a task that you find especially burdensome doesn't make sense. We’ve supported some great clients who simply stretch themselves too thin and wind up exhausted, physically, mentally, and emotionally. Too many of them get that way because they hate writing copy, emails, and lead magnets instead of focusing on acquiring and servicing clients.

It makes sense to stop wasting your valuable time and outsource that work to others who can do it faster and more effectively. And we can help!

Do you still have questions? We can help with that too. As a business consultant to the trade, Ted is familiar with and can introduce you to a professional copywriter or two who can help. Simply… Contact TD Fall today.

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.”

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.

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.

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.

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.