The bad news: the hefty consumer HVAC tax credits, one of hundreds of goodies in the American Recovery and Reinvestment Act of 2009, have expired. Thousands of HVAC businesses took advantage of the handouts and expanded accordingly. The good news: Smart HVAC firms can keep the momentum going, long after the perks disappear. So says HVAC specialist and author Mike Moore in his latest post at HVAC Learning Solutions. Moore has three solid insights for HVAC firms on how to keep growing into 2011 and beyond. Quick recap:
- Tap into rising demand for energy-efficient equipment. High-efficiency HVAC equipment was gaining market share before the stimulus package took effect in 2009 — and will continue to do so heading into 2011 and beyond. HVAC businesses need to lean into this trend more and graduate more homeowners and commercial customers alike into greener and more cost efficient HVAC systems.
- Lock in those new customers with great service. All the new clients who arrived by virtue of the tax credits are potential long-term customers with great value to your business. Go the extra mile to lock them in. As Moore says, “sometimes it doesn’t take a lot of money or sacrifice to make your customers happy and keep them coming back — it can be a simple complimentary maintenance or assessment session. It can also mean extending your hours, or providing a discount on certain service packages.”
- Can’t hurt — ask for more. There’s a chance that Congress could extend the HVAC portion of the stimulus program. Says Moore: “Some are convinced that the end of the stimulus means the end of some HVAC jobs. At savehvacjobs.com, people can fill out a form letting their government know why they want or need an extension on the stimulus.”