Why Should Contractors Offer HVAC-as-a-Service?
Updated: Jun 16, 2022
With the advent of novel technology, the crop-up of bustling industries, and a seismic shift in the way property owners make the most out of their investment and finances at large, it’s safe to say the consumer landscape is evolving. Nearly a quarter of cars purchased last year were leases, and a significant portion of the U.S. population has a monthly internet and phone bill. Add in streaming services, grocery delivery, and gym memberships, and it stands to reason the average American is no stranger to recurring monthly bills. Can that translate to the HVAC industry? We’re here to confirm that, yes, it can — and it should.
Now more than ever, contractors are taking advantage of an exciting opportunity to implement a forward-thinking solution that takes the concept of “financing” one step further. HVAC-as-a-Service has been growing in popularity amongst contractors looking to grow their customer base, bolster retention, and contribute to the bottom line. While these are the broad-stroke advantages that any company strives for, we’re here today to dive into how exactly this offering benefits HVAC professionals just like you — and how our Premier Program can propel your business forward.
Enhanced Customer Experience
Heating and cooling contractors aren’t exactly in the luxury business; being able to control indoor temperature is simply something people cannot live without. However, potential customers far and wide are looking for new ways to upgrade their home comfort systems without the initial costs and overall headache of ownership. Homeowners already rely on you and your specialists’ expertise; create an even better customer journey by offering them options that fit their needs! HVAC-as-a-Service is a cutting-edge offering that will distinguish you from other local contractors, granting you a competitive edge that will appeal to property owners.
Increased Close Rates and Profitability
While ensuring the satisfaction of your customers is always a high priority, offering HVAC-as-a-Service helps you close more sales. In fact, Premier Program has been shown to increase close rates significantly! When a customer opts in for this innovative HVAC leasing option, they’re more likely to purchase top-of-the-line equipment they may have not otherwise considered if they were only presented with a traditional route of service and payment. Contractors who leverage these options can see more units sold and a higher total average ticket price.
Ensuring Future Business
One of the most exciting things about offering HVAC-as-a-Service is that it’s an inherent relationship starter with a built-in customer retention plan. When going out for a traditional repair or installation job, there’s no guarantee the customer will call you the next time they need service, but with our Premier Program, you secure 1-2 cross-sell opportunities per year and ensure you’re the first one they call when they need a replacement. This opens the floodgates in terms of recurring revenue, allowing you to shift focus away from preventing costly customer churn to new-customer acquisition and growth initiatives. Simply put—when you earn a new customer, you keep that customer for the long term!
Worry-Free Comfort for Your Customers, Peace of Mind for Your Business
The HVAC industry is becoming increasingly accessible, dynamic, and customized; is your team making the most out of it all? For more information about our comprehensive Worry-Free Home Comfort program, including on-site sales training that transforms the way you do business for the better, reach out to Service 1st Financial today.