Owner, RIKB Design Build
Warwick, RI
Growth
We had such exponential growth (35%) in 2022, and I’m not sure if that was an anomaly because of pent-up demand. We’re taking a more conservative approach for 2023 because I don’t think we can use 2022 as a benchmark. We’re going to get a 5% growth.
Challenges
I think the client is going to drive everything for 2023. There’s still a lot of expectation from the client.
The supply chain issue is still very real, and I think the client’s understanding of that is a big challenge right now.
We have realized that we have to start talking about those things very early on in the conversation to manage expectations. At the beginning, it’s all about getting a rapport with the client and making sure we’re the right fit, but we’re having to do a deeper dive into the mechanics of the remodel earlier than normal because of what’s happening in the supply chain.
I think the client is going to drive everything for 2023. There’s still a lot of expectation from the client.
I think there’s a lot more of a wait-and-see approach from a client perspective. And from our perspective, it’s about, “No, we need to get you in the queue now so that we can place those orders for the materials to get you the project you want when you want it.”
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Advice
Don’t base your budget on 2022, I think it was a bit of an anomaly. You’re better off running your budget cautiously. I think we all need to spend a bit more on marketing again because, let’s be honest, we didn’t have to market to clients in 2021 or 2022.
It’s going to be different in the way that we approach marketing too. What do people want to hear from you? What will make them feel comforted? What will make them feel safe spending their money and putting trust in you?
We’ve been coaching our design team to have deeper conversations early on. “Why are you looking to do the remodel right now? What’s going on in your life?” Normally they wouldn’t cross that emotional boundary on the first call, but they’ve got to get there with the client. If they resist, then you back off. The idea is to tailor our process a little bit toward what they need from us.
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Read all 2023 Thought Leader predictions and game plans here
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