How to Win With Customer Satisfaction - Qualified Remodeler Magazine July 2015
Stebnitz Builders was featured in the Qualifed Remodeler's July 2015 Magazine Issue: How to Win With Customer Satisfaction.
Working with GuildQuality, Qualified Remodeler Magazine, a trusted and tested resource for remodelers and home improvement professionals, was able to identify 60 top remodelers nationwide (including Stebnitz Builders) and have them share their incredibly high recommendation rates and tips for what works.
As business owners, top remodelers use key financial, accounting and marketing metrics to monitor the health of their firms. The accuracy and timeliness of those metrics correlate directly to the quality of an owner’s decision making. Better data leads to better decisions and ultimately to a bigger bottom line.
The report was prepared in close collaboration with GuildQuality Inc. whose recommendation scores formed the basis of the selection process of the 60 outstanding remodelers who comprise this list. To learn more about GuildQuality go to www.guildquality.com/stebnitz.
To view the full Qualified Remodeler Magazine July 2015 issue CLICK HERE.
From Stebnitz Builders:
Over the past decade, the importance placed by leading remodelers on customer satisfaction metrics (generally) and “willingness to recommend” (specifically) has grown dramatically. Many argue it is the key remodeling performance measure after revenue and profit. Today, thanks to the efforts of new research, we know more than ever before about its relevance to the health of all businesses, not just remodelers.
First, higher customer satisfaction is tied to increased revenue per customer. An InfoQuest study found that “a totally satisfied customer” yields 2.6 times more revenue than a “somewhat satisfied customer” and 14 times more revenue than a “somewhat dissatisfied customer.” A company that consistently satisfies its clients is often getting double the return on its investment to acquire a new customer. Second, high customer satisfaction neutralizes any negative word-of-mouth impact often associated with the inevitable unhappy customers. A McKinsey study found unhappy customers on average tell between nine and 15 people about their negative experience, and 13 percent of unhappy clients tell more than 20 people. Bad news travels faster than good news, especially with the Internet. Customer satisfaction therefore is a good way to play offense and to help a business grow, and it provides a solid defense against faster-traveling negative word-of-mouth.
The only effective way known to track customer satisfaction is through regular survey work of past clients. This is important because other studies have shown that most clients don’t tell you they are unhappy. For every complaint received there are another 26 customers who don’t speak up. So surveys are required to get good visibility on this metric.
You can do this work on your own, but it tends to be more accurate when conducted through a third party. Since 2003, Atlanta-based GuildQuality has been conducting such surveys for remodelers and builders. In all, they have used their software as a solution application to survey over 1.2 million homeowners.
Heat Map of Highly Valued Service Traits
In addition, GuildQuality created the first-of-its-kind heat map that draws upon tens of thousands of remodeling customer responses to identify and benchmark remodeler behaviors that correlate directly to higher satisfaction. These, combined with the 60 profiles, offer insights in a performance metric that can make a huge difference over the life of your company.
This heat-map shows areas of focus and importance to consumers regarding their recent remodeling project. The data was collected by GuildQuality and represents more than 100,000 consumer surveys conducted post remodeling projects. Scores closer to zero (blue) are less important for consumers than scores closer to 100% (red), which are very important to consumer who have recently remodeled.
GuildQuality was founded in 2003 by Geof Graham during his time as a real estate developer as a surveying solution for small to mid-sized homebuilders and remodelers. Since then, GuildQuality has grown to become the nation’s leader in web-based customer satisfaction surveying for the residential construction industry. With nearly 2,000 companies who are members of the GuildQuality community of quality and having surveyed over one million homeowners, GuildQuality is the trusted partner of homebuilders, remodelers, and home improvement contractors who value gathering authentic customer feedback and providing high quality service to their customers. The best residential construction professionals rely on GuildQuality’s customer satisfaction surveying, performance reporting, and marketing tools to help them monitor, improve, and share their commitment to quality and receive the recognition they deserve for doing exceptional work.
To learn more about GuildQuality go to www.guildquality.com/stebnitz.