Four Ways to Keep Product Shortages from Killing Your Business
Prior to 2020, contractors could order what was needed, when it was needed, and products arrived quickly. However, pandemic-related HVAC product shortages have made it very difficult to service customers. Delays, product shortages, and rising costs continue to impact businesses large and small. How can you thrive in this crazy new world? Here are four strategies to consider:
1. Be the Brand
While your “favorite” high-efficiency product brand may be temporarily unavailable, consider alternative brands to fill the void. When you sell what the product “does” for the customer - as opposed to what the product “is” - you can use alternative product brands to deliver on your promises. Selling “yourself” as the brand instead of positioning yourself as a manufacturer’s dealer sets the stage for future sales success. Embrace an approach that positions you as a manufacture that custom-designs, installs, and maintains your customer’s indoor comfort system.
2. Adjust Retail Prices Regularly
Everyone is experiencing price increases. Unless you have a ton of cash you want to invest in your customers, price increases must be passed on for business survival. Adopt a pricing system that simplifies retail price calculations based on current wholesale prices. That way, you can easily adjust your prices and maintain business profitability based on real-world conditions.
3. Present Bundled Choices
Consumers want to enjoy the safest, healthiest, most comfortable, convenient, and energy-efficient indoor comfort system that they can afford. As HVAC professionals, we know what components are required to give customers what they need, want, and deserve. By bundling components as a “complete system” at different investment levels (Basic, Good, Better, and Best), consumers can quickly select their own best choice.
4. Offer Easy Monthly Payments
Properly priced product bundles always cost more than a simple component replacement. To make it easier for customers to enjoy the many benefits that your offer delivers, you must make easy financing options available. Learn to use the power of OPTIMUS and select the right plans to fit your customer’s needs.
Want to make this easier? Consider a flexible software tool like Silver Bullet Price Page or HVACBizPro to streamline your sales process. These great tools, integrated with OPTIMUS, can help you accomplish each of these four strategies. Visit their websites and schedule a free demo today!