As we inch closer to the new year, start thinking about how you can get your HVAC, Plumbing, or Electrical business in a spot to see more profits and success in 2021.
With the thick of busy season behind us, there’s no better time to evaluate where your business currently stands and establish a plan of attack for the new year. Take stock of all aspects of your organization – from marketing to staff to your pricing strategy – and identify what’s working and what can be improved. If you’re having difficulty thinking of what your home services business could do to see an increase in productivity and profitability, consider the following:
1. Sell (More) Service Maintenance Agreements
If you’re not selling service agreements already, START. And if Service Agreements are already a part of your sales process, then think about what you can do to sell more. Maintenance work is not only a great way to keep busy during slow seasons, but it also improves cash flow and helps build customer retention. When pitching Service Agreements to customers, drive home on the benefits they can offer (prevent future damage that could lead to costly repairs, always keep your systems in tip-top shape, etc.) Also, do your own research on the power of Service Agreements. The more that you and your techs believe in them, the more your customers will too!
2. Look at Your Online Presence
Your company’s online presence is probably not a top-of-mind concern, but it does play an important role when it comes to new business and customer retention! When planning for the new year, consider doing the following to improve your online presence:
- Amp Up Your Website: By adding things like customer testimonials, before and after photos of your work, and links to your Yelp profile, you can build trust among prospective customers who visit your website without lifting a finger. If you need help enhancing your website, consider turning to the pros, like Market Hardware’s team of industry experts who strive to educate service professionals on the growing trends in Web Marketing.
- Review Your Google Listing Information: Simply search your company’s name to find your Google listing, and check that details like your website, phone number, address and business hours are all up to date.
- Boost Your Online Reputation: Increasing your online reviews can easily help you bring in more business and generate more revenue. To do this, service professionals should consider using Customer Lobby, a company designed to help service businesses improve their online presence. With Customer Lobby, you can collect customers reviews automatically to leverage on your website, or a review site of your choosing like Yelp or Houzz.
3. Evaluate Your Pricing
Did you know that in the HVAC, Electrical, or Plumbing industry, costs for parts increase by 4% a year on average? And now that you have little more flexibility in your schedule, there’s no better time to take a look at your pricing and make necessary adjustments. Updating your pricing doesn’t have to be a chore either, especially when you use a price book like Profit Rhino’s. Profit Rhino’s flat rate price book was not only built and managed by industry experts, but also comes with quarterly parts updates so you can be confident your pricing is always up to date. If you haven’t jumped on the flat rate train yet either, you may want to; 92% of consumers actually prefer flat rate pricing, and that’s just one of the benefits of flat rate. Ultimately, using flat rate pricing AND Profit Rhino’s pricing tools will help ensure you always have pricing that’s both accurate, and works for the profitability you want.
All in all, Profit Rhino’s flat rate pricing software can help you hit the ground running in 2021 and give you the power to grow your business.