Power Up Your HVAC Pricing Strategy

Man looking at paper surprised

As an HVAC contractor, managing your pricing has always been an important part of your business, but this past year had made it more critical than ever. Many contractors we have spoken to recently have described the perfect storm of challenges facing their businesses:

  • Strong demand for services, but continued lack of skilled labor
  • Equipment shortages creating delays and disruptions
  • Inflationary pressures increasing the cost of doing business

If you don’t play close attention to your pricing strategy, these factors can damage your profits and growth prospects.

Dial in Your Pricing Strategy

When your costs increase, whether it’s equipment or labor, it’s critical to have a strategy for how you incorporate those costs into your business. HVAC businesses are not alone in dealing with this problem. We’ve scanned the web for some expert advice, and found a few that are worth your time.

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5 Promotional Ideas to Help Grow Your HVAC Business

Coming up with creative promotional ideas to grow your local HVAC business is critical. Sure, even the big guys need a boost every now and then, but the heart of your small company depends on gaining (happy, loyal!) customers for consistent business—and unique HVAC business promotions are just the ticket.

If you think that all the best promotional ideas have already been done before, we’re happy to share a few tricks up our sleeve that you might not have tapped into yet. When it’s time to grow your HVAC business with a promotional push, think about these five strategies.

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Marketing for the HVAC Contractor: The Case for Marketing

Your company tells a story, and it should be the right one

Marketing-story

The Case for Contractor Marketing

Marketing can be intimidating, especially in the midst of everything else today’s HVAC contractor must worry about. Finances, company morale, hiring skilled talent — to name a few. And if a business is doing well enough, the “marketing department” might consist only of a sparsely-populated social media page.

 

But that’s a mistake. A well-formed marketing strategy is a must to ensuring your company makes profits for years to come. It will identify where you are spending your money to acquire customers, whether that method is working, and how your strategy’s return-on-investment and efficiency could be improved.

And while marketing’s focus is on the company’s relationship to its customers, marketing done right will also improve the company’s relationship with its employees. Correctly executed, a company’s marketing strategy will show that the business takes itself seriously and acts professionally, a quality that will attract serious, professional candidates to your job applicant pool. Plus, marketing done right will give your company and brand a personality, generating an identity that employees can connect with, and ultimately, be loyal toward.

Marketing generates a personality, because, at the end of the day, marketing is a story.

Marketing Is a Story

Marketing is the intentional process by which a company moves a customer from awareness to purchase to loyalty. In other words, your marketing is how your company answers this question: How do we get people to know we exist, then to buy a product/service from us, and then to recommend us to friends?

A marketing strategy, fully-fleshed, will be complex. It will tie together your finances, your social media, your employees, your customer service, your office space, and much more. But, at its simplest, marketing is telling a story. It’s casting a vision and telling people, implicitly and explicitly, what sort of experience they will have when they interact with your company.

Your company is a main character. Your company and brand will always have an identity and personality. This is the connotation people have with your company — the “taste” in their mouths when they hear a contractor’s name. The thoughts, emotions, and memories that spring to mind when they read your company’s name in the newspaper.

Your customer will associate a personality with your company. Even if it’s the first time they see your website or a company truck, they will immediately judge whether your company looks professional, profitable, and personable. In real-life conversations, we set first impressions of strangers in the first second. Your interactions with a customer are the exact same.

Your customer will judge your company. Marketing is your company controlling that image the customer has of you. And the more conscious you are of marketing, the more you can guide that brand image to where you want it to be.

And that image is critical. Primarily, people do not make decisions from the brain. They make them from the heart. An emotional connection with your business, built through experiences with employees and advertising, and then supplemented with low-cost financial incentives, will decide whether a potential customer goes to you or a competitor.

So How do I Market?

This series of blog posts, found on The ACHR NEWS’ Business Management Blog, will discuss how a person with limited (or no) professional marketing experience can still build an effective and profitable marketing strategy for their HVAC company.

For now, begin with this: A marketing strategy is just that. A strategy. It is an intentional plan to guide customers from awareness to purchase to loyalty, and every marketing decision should be made with this in mind. Instead of haphazardly posting on social media, ask, “What message do I want to convey about my company, and how I can write a post to convey that message?” Instead of spending money on an advertising campaign in the newspaper because you’ve done it for the past ten years, ask, “How many leads have I generated from this campaign in the past? Is the campaign worth continuing, or would those dollars be better spent elsewhere?”

Be strategic and realize that you have control of your company’s reputation through your marketing. And that reputation has a very significant, quantifiable role in how much profit your business generates.
That’s the first page in your company’s marketing story.

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4 Lead Follow Up Marketing System Techniques

As a trade service professional, it’s incredibly important to keep your customer base strong. One of the best methods for doing so is investing in a strong sales follow up marketing campaign. Knowing how to market your HVAC business isn’t always simple, but taking an extra step to follow up with a prospect can be the difference between a sale and empty pockets.

But follow up marketing isn’t just limited to that first contact with a prospect. Another follow up marketing opportunity happens after you’ve provided a service to a customer. How do you keep that customer in the marketing loop to avoid never seeing them again? The key – again – is to rely on timely follow up marketing.

At its most basic definition, follow up marketing means that you – wait for it – follow up after an initial communication to stay in contact with a prospective customer who may convert into a first-time customer or turn into a return customer, if you play your marketing cards right that is.

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