Now that you own and operate a HVAC company, how are you going to ensure you continually grow? You want your business to expand in a sustainable way. That type of growth allows for long-term success, and we’re hoping to help you find it.
By keeping up with Selling Revolution, you’ll keep up with the latest trends in the HVAC industry. That means you can constantly find and implement new ways to drive your growth. You’ll never have to stay stuck at a plateau with no ideas on how to pick up some momentum.
With so many local competitors to contend with, HVAC companies need to stay up to date with the latest trends. Otherwise, they risk being left behind. To ensure you stay ahead of the curve, keep up with the latest trends from Selling Revolution. We’re tuned into the HVAC industry, so we offer valuable information for you to propel your HVAC company forward.
For now, we’ve identified some trends in the HVAC industry that we think are worth paying attention to.
7 Emerging Trends in the HVAC Industry
Here are seven of those emerging trends that we’ve seen in the HVAC industry lately. We hope you find this information illuminating, and we encourage you to consider implementing some changes to benefit your business.
Remember, if you aren’t moving forward, you’re moving backward. These seven ideas will get you moving in the right direction.
1. Improve Control with Connectivity and Data
As HVAC systems become more advanced, there are increasing opportunities to improve control with digital tools. By connecting all of your systems and tracking data such as temperature, humidity, energy and more, you can offer your clients an integrated experience. People benefit from this by being able to improve their experience by remotely monitoring and controlling the air in their homes or businesses.
This trend is true for many industries, not just the HVAC industry. That means people are looking for connectivity across many aspects of their home, so don’t get left behind. Ensure you offer the latest technologies that allow users greater oversight and control.
2. Eco-Friendly HVAC Systems
The environment should matter to all of us. The reality is that many of your customers will care about their environmental footprint, or the impact they personally have. In the home services industry, companies are finding that their clients do often opt for eco-friendly choices when possible.
We suggest you carry eco-friendly options for HVAC systems as well as the various components or equipment that goes along with them. Not everyone will want eco-friendly options. They often cost more than less-eco-friendly options, and some people can’t afford that increase. And that’s ok–even if some customers choose your offerings, it’ll help you and the environment too.
If you’re looking for ways to implement these steps, then we’re here to help. Selling Revolution is ready, willing and able to offer you guidance when it comes to effectively scaling and growing your HVAC business. With our experience helping other companies do the same, we’re confident you’ll be closer to your goals after we help guide you through the process.
If you aren’t convinced yet, consider this: 61% of Millenials and 46% of Baby Boomers are willing to spend more money if it means having a lesser impact on the environment.
Smart HVAC Technologies
Smart technology has been around for years, and it’s only growing more prevalent. HVAC equipment and systems are no different. This new technology allows automatic or self-regulation, temperature and humidity sensors, remote control adjustments, tracking of energy output and much more.
As the digital age continues to bring more and more technology, you’ll see that list grow. Who knows what the future of HVAC technology will bring? But we know you should stay up-to-date, or else you’ll be left in the dust.
Ductless HVAC
This type of HVAC system is increasingly popular. In many old buildings, there simply isn’t room to install ducts. Instead of having no option in these cases, you can offer ductless HVAC units. Even if there is space for ducts, sometimes it’s pricier or bigger of a project than clients might want to choose.
By offering ductless HVAC systems, you’ll be better able to serve your existing customers, and you might even be able to gain new ones. Don’t push them to your competitors who do offer these ductless systems.
Personalized Customer Relationship Management (CRM)
Customer relationship management (CRM) softwares, programs or systems are valuable for many reasons. In addition to managing all aspects of client relations such as payment, scheduling, messaging, forms and more, there’s another benefit…
Personalization. You can make your clients feel connected to the community aspect of your business when you use their name and personalize your messages and materials. Recognizing your clients as individuals will increase their sense of trust, and that can have a huge impact on your bottom line. Think about it this way: if you can get a client to return over and over, how much is that worth?
Do the math for your business: how much does it cost for you to acquire a new customer? Most of the time, it’s around six or seven times more expensive to acquire a new customer. Keep that in mind when you’re allocating your resources between new customer acquisition campaigns and client retention efforts.
Remote Office & Online Consultation (after Covid-19)
We all saw what happened to the economy when the pandemic hit in 2019. It also affected the way that consumers want to shop and the way that businesses run their operations. When there are remote options, people tend to take advantage of them.
So if you want to attract more employees and customers, then see what aspects of your business you can make remote. Consider any options that would allow your workers to get tasks done without coming into a physical office location.
Also consider how you can minimize personal contact with your clients, should they want that option. We’ve found that digital or online consultations are growing in popularity. Investing in these changes now will also ensure you aren’t hit as hard in the event of another economic shutdown.
Basic Steps in a Sales Process
Now that we’ve gone over those seven essential trends to keep up with, let’s look into the sales process. It’s no use having such great services, products and offerings if you can’t get them sold.
There’s a certain amount of the selling process that’s influenced by the quality of your services and the products you offer. But that’s not all of it. The way you go about selling makes a huge impact on your bottom line. If you can’t convince people to buy your products, then what good are they to you?
To ensure you’re improving all aspects of your business, focus on the sales process too. Here are seven important steps to pay attention to. If you can do these, you’ll be off to a great start. Then, we’ll move onto steps that you can take in the HVAC industry in particular. It’s important to always start with the basics, though, so let’s get started!
1. Prospecting
1. ProspectingThis is the first step of the process, and it comes down to evaluating who qualifies for your services. The two basic factors that go into determining qualification are if the prospective client needs your services or products, and if they can afford them too.
If the answer to both questions is “yes,” then you can move along to the next step in the process with them. Over time, you’ll begin to see patterns in your prospects. At that point, you can narrow down what clientele you work with the most, and what audience is most likely to give you good leads.
2. Preparation
Get ready. You’re going to be gathering information and putting together your pitch now. Research the market and collect all information pertaining to your product or service that you need to prove its value. Figure out who your prospect is, and consider how you can psychologically connect with them.
What do they want? What do they fear? What will move them to make a purchase?
By arming yourself with as much information as possible ahead of time, you’ll be able to make a connection with your prospect in the next steps more easily.
3. Approach
This step is the first contact you make with your prospective customer. Maybe you’ll meet with them in person, over the phone, or face-to-face digitally through Zoom, FaceTime or any other application you use. There are three main ways that you can approach your prospect: the premium approach, the questioning approach, or the product-focused approach.
With the premium approach, you’ll be offering the potential customer a gift when you introduce yourself. This makes them feel valued, and will facilitate the sales process down the line.
The questioning approach is, as you might’ve guessed, based on asking a question. It should pique their interest to get the conversation rolling.
The product-focused approach involves providing a sample or free trial to the prospect. That way, they can see for themselves the value of what you sell.
4. Presentation
This doesn’t have to be a literal presentation, though it can be. This step involves presenting your product or service to the prospective client in a way that truly demonstrates the ways in which it meets their needs. You’re showing them that you understand their wants and needs, and that you have the resources and ability to fulfill them. You’re proving your value here.
The more you sell, the better you’ll be able to design your presentations. When your presentations work, make note of what went right and what points seemed to stick. If you can learn what hits home for your prospects, then you’ll better convert leads in the future. Information is power, so gather your information diligently!
5. Handling Objections
5. Handling ObjectionsAt this step, you can majorly make or break your sales figures. When someone objects, how do you respond? If you’re like many sales people, you’ll give up: 44% of salespeople will stop pursuing a lead after one objection. But if you’re wise, you’ll handle those objections gracefully, since 80% of sales will need five or more follow-ups before they convert. Be persistent, and respectfully address objections and concerns.
6. Closing
This is when you make the sale. Here are three effective closing techniques that you can try: alternate choice, extra incentive and standing room only.
Alternate choice: offer two options to the client that both lead to closing a sale. This, or that? Well, both end up with the client making a purchase.
Extra incentive: offer an added bonus that will push the prospect into deciding on the purchase. Popular options are discounts or a free first service.
Standing room only: drive the sense of urgency behind the offer by demonstrating that there’s no time to stall. If a deal won’t last, or if you can only offer services to so many people before filling up, then let them know.
7. Follow-up
You’ve closed the sale, but you still need to keep your customer happy. You’ll want to keep them coming back for more purchases so that you don’t need to spend extra time or energy generating so many new leads constantly. Ask for feedback, request referrals, offer them special incentives or anything else you can think of that would make them feel loyalty to your company.
Expert Tips for an Effective HVAC Sales Process
The above steps are good for any industry. They provide the basic outline for how all selling processes are likely to go.
But for the HVAC industry specifically, there are some other important things to keep in mind. If you weren’t already aware of these, then we’re glad you are now. Read on below to learn four important considerations for HVAC sales specifically.
Boost Individual Sale Prices
By increasing the value of each sale, you’ll be able to increase your revenue while selling to fewer customers. Make sure you go over all options with the customer to address their needs. If they’re coming to you for one service or product, chances are they might need others, too.
Also, a strategy we see working is the good, better, best system. When going over options with customers, categorize them into those three categories. It’ll likely increase the number of customers who choose the middle tier over the bottom tier. It highlights the increased value over the bottom tier without feeling like too much of a jump in price.
Hone Your Team’s Overcoming Objections Skills
We mentioned how important handling objections is. It matters in your sales department, and it matters for your whole team, too. There are plenty of opportunities to upsell on the job, so you’ll want your technicians to know how to overcome objections too. And of course it’s important for your sales staff.
There are going to be common objections that you get, so start paying attention to the reasons why customers say “no.” That way, you can get ahead of it and plan out reasonable explanations and answers. Once you hone them yourself, you can teach your team–both salespeople and technicians alike.
Make Use of Your Sales Reps
In addition to teaching your sales team how to handle objections, there are lots of other ways you can train them. It’s important for your team to have all of the skills, resources and training they need to bring in tons of sales.
If you aren’t giving them regular training, then you’ll be missing out on their maximum potential. You’ve already hired them, so why not equip them with the tools they need to be the best they can be. It’s good for them, and you’ll be making the most of their skills for your company, too.
Encourage Employees to Generate Leads on Their Own
Since your employees are part of the greater community you serve, they’re bound to run into lead opportunities. That means it’s important to let them know that you value their connections, and that you allow them to generate leads for the company. Offer incentives or commission, and it’ll stay at the top of their mind. That way, whenever they hear about or know someone in need of HVAC services, they’ll be sure to speak up.
Give your employees business cards so they can act on the spot when those situations come up. It’ll boost your sales, and increase their sense of commitment to the company
If you’re looking for more ways to boost your sales, then Selling Revolution is here to help. With our experience, we’re confident we can guide you to success with your HVAC business. Book a call with us today–we look forward to serving you!