News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Nina Patel / REMODELING / August 14, 2013
Mapping the reach of referrals
When Lori Bryan, vice president and COO of Marrokal Design & Remodeling, in San Diego, created a chart to show the reach of a specific client, she was surprised to find that $4.7 million worth of work over 12 years had resulted from a $100,000 project. The first clients, the Smiths (all client names have been changed for this article), heard about Marrokal from a radio ad. “No matter how much it cost for radio that year, it paid off!” Bryan says.
That original job led to two other raving-fan clients who referred much of the additional work. Johnson referredRead More
Christopher J. Bucholtz / CRM Buyer / August 2, 2013
A salesperson at a software company is going to be celebrated internally and rewarded financially for landing a new 10,000-seat customer. How much reward goes to the team that keeps five or eight or 10 similarly sized customers happy, satisfied and contributing to the bottom line for another year? Not much. They’re just doing their jobs, or so some would say.
If you want glamour, status and prestige within your company, go out and get new customers. If you want to stay in business, specialize in keeping the ones you have happy and loyal.
Customer retention isn’t flashy, and it doesn’t