How Do You Raise Your Prices? Part Two | HVAC Pricing Series Part 13
This article will discuss the most important element of how you raise your prices: you must raise the value of your company in the eyes of your customer. Your customer must be able to see your company as being worth more money. Your customer has to see and understand that when he chooses your company he is getting so much value that your price is no longer a factor in his mind. So how do you increase your value in the minds of your customers? There are literally hundreds of ways to do it so let’s take a look at the most important ways.
Ask questions. You are there to solve the customer’s needs and the only way to understand the needs of any customer is to ask lots of questions that discover those needs. And once you know what the customer really wants, then offer him exactly those products and services that fill his needs.
Do what you say you are going to do at the time you told your customer you would do it. In this fast-paced world, customers want quality performance on time.
Allow your customers a myriad of ways to communicate with you: phone, text, email, and social media. Answer every communication quickly and professionally.
Have a professional image for your company. These would include clean, neat, matching vehicles with strong company ID, uniforms for all well-groomed employees, a strong customer-need-based website, a strong company logo with a good slogan, job site signs, business cards for all employees with a creative offer, flat rate pricing for service work, menu pricing for replacement jobs.
Use professional-looking proposals for replacement jobs and professional service invoices for service work. With your replacement proposals be sure to include a professional load calculation and financing options. Create a “Sales Book” that has job pictures (before and after), references, warranties, company photos, awards and community service projects. Follow up on every proposal you give to a prospect within 24 hours.
Offer financing on every replacement job. Know and understand at least two or three different financing options for your customers. Most HVAC jobs are financed in some way so make sure your customers know your financing options. Be sure you take credit cards and debit cards for ANY sale.
Have creative, customer-based warranties not offered by your competitors. Include those warranties on all your literature, especially the sales proposals.
Have a viable, professional Maintenance Agreement Program.
Create a Company Brochure that tells your customers the services you provide and the kinds of products you sell. Give that brochure to every customer on every job. Include the BENEFITS for the customer by choosing one of these services.
Be open during “retail” hours. That would include early evenings and Saturdays. Customers demand fast response time and expect longer hours to match their busy lives
As you can see, the items that can increase the value of your company go on and on. It is a never-ending job to be the company that has the best value in the minds of your customers. But if you succeed in establishing a strong value then Price is no longer a factor.
- How Many More Sales Dollars Do You Need To Cover An Expense? | HVAC Pricing Series Part 14 – December 23, 2019
- How Do You Raise Your Prices? Part Two | HVAC Pricing Series Part 13 – December 9, 2019
- How Do You Raise Your Prices? | HVAC Pricing Series Part 12 – November 25, 2019