Some HVAC salespeople believe price is all that matters. Their conversations begin and end with the customers’ question: What’s the job going to cost?
Selling on price
So, what happens when you sell on price? Simple. Your customers will make their decision based on one factor only: your quoted price.
Even in an emergency situation, like a broken AC in the peak of summer, your customers will do their research. And telling them your job is competitively priced won’t be enough to win them over.
It is far more likely that those customers will be looking for competitors with similar offers that can beat you on price.
Selling on value
Value selling, on the other hand, shifts your customer’s focus away from price toward a mutually beneficial dialogue.
Salespeople that lead the sale with value ask customers to explain problems they’re experiencing in detail. And they ask those customers to describe what they want as fully as they can.
Based on customers’ responses, these salespeople will offer the most beneficial solutions their HVAC businesses can provide.
Tell them a visual story
Leading the sale by value means sharing precise, clear-cut visual stories that cater to customers wants and needs. It means you leave customers looking forward to a bright future, where their investment in an energy efficient seer-unit will pay dividends over time, by saving them hundreds of dollars on their electric bill. Plus, you enable them to feel good about reducing their carbon footprint.
But that’s not all. You can also provide added-value to their story. Such as a future in which the customers’ whole family, including their two young children (one with asthma), breathe easier, thanks to the installation of an IAQ device.
Offer the best solution to their problem
You can also offer customers a solution that will put their mind at ease about their future: Think, a contract agreement that can protect their investment on a higher-efficiency unit, year after year. And remove their worry of having to deal with a broken AC again.
By putting yourself in your customers’ shoes, you can see why selling value is so much more effective than selling price.
Educate your customers
Spend time educating your customers on how your services and products will benefit them, achieve their goals, and solve their problems, and their perception of your items’ value becomes very high.
You’ll find that your customers won’t have the same urge to pick up the phone and call your competitors to see if they’ll offer them a better price.
With the value approach, you lead the sale with how your customers’ lives will be improved with the product or service you’re offering. And as you do this, the price of the job becomes less important for them.
How to use financing to sell value
Of course, price is still important. And this is where financing can help you close the job.
Let’s assume your customers are sold on the 3 value-added items you’ve offered them:
1. A higher efficiency system that saves on electricity and reduces carbon footprint
2. An IAQ device that will safeguard their home’s air quality
3. A maintenance guarantee will protect their family’s comfort, year-round
Here is when the ticket price of this job comes into play.
Even though your customers like these benefits, they may still get scared off by $11,000 ticket price.
This fear should come as no surprise. Right now, customers are being extra cautious about the money they spend from their savings. And high-ticket items like these are no exception.
So, what can you do? Here is where offering your customers a financing solution that fits their needs can help you close the sale.
Give customers a way to comfortably pay for a big ticket item
Once your customers are sold on the value of the job, you need to provide them a good option for how to pay for it.
With Credit for Comfort’s financing app, you can offer customers no-interest, short-term plans or long-term, low-monthly payments plans from multiple lenders.
Using the app is easy for you and your customers. The application is paperless and customers get a decision on whether they’ve been approved for a loan in seconds.
Despite the fact that an $11,000 ticket might initially put some customers off, giving them a financing option to pay for the job can help you close the sale on value.
Offering them $192 monthly-payment for 60 months at 4.99% APR can go a long way in shifting your customers’ buyer perspective.
Suddenly, making that high-ticket purchase becomes totally doable. And for the value, totally worth it.
Credit for Comfort can help you lead the sale by value, not price. To find out more, book a demo now.