HVACR Business

OCT 2017

Help hvacr contractors master the critical components of business management.

Issue link: http://digital.hvacrbusiness.com/i/890176

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Page 12 of 23

T oday's competitive landscape is as cutthroat as ever. With customers being constantly bombarded with ads on all media platforms, it's easy for your message and marketing materials to get lost in the crowd. is is especially true in a bourgeoning niche service market. e HVACR industry is expected to grow to $173.16B by 2022, an implica- tion of the growing demand for related services with the recent rise of home own- ership. With increased demand comes an increased need to differentiate your com- pany from others in the market — this is where smart marketing becomes essential to your success. When promoting your services, the specific marketing and advertising tactics you choose to employ will have a significant impact on your business. Strategically timed advertising campaigns and well-designed marketing materials are key to capturing the attention of new clients and turning them into loyal customers. A healthy mix of digital and print assets will guarantee the greatest reach, but only if you're pushing out the right message to resonate with your target audience. When you're creating a direct mail piece or a multi-media marketing campaign (di- rect mail and mobile ads work best when combined), the following should be taken into consideration before determining the right strateg y for your market. Understand Your Competition Before mapping out your strateg y, you need to have a comprehensive understand- ing of your competitors. Know where they're advertising and what offers are being leveraged, as this will help you plan your own marketing efforts. Understanding the pricing and special offers that your competition is advertising will allow you to determine how to create a more compelling proposition to drive traffic into your business. Additionally, this basic research will help you better understand if you're underpriced or even overpriced. For an even deeper grasp on your com- petitors' relationship with local customers, check out their social media activity. Are they actively engaged with customers on their social channels? Do they respond to questions or concerns via social media in a timely fashion? Do they create original, educational content? Knowing how other brands in your market interact with customers can pro- vide insight on how you can best reach your target audience and appeal to their demands. Once you have a firm understanding of your competitors and where you stand amongst them, a unique, multi-level marketing and advertising strateg y can give you the necessary edge to grow your customer base. Determine the Right Reach For a direct mail advertisement, you'll need to evaluate the number of house- holds you're seeking to touch. Home im- provement brands typically need to target a larger number of households to effective- ly penetrate the market and garner the best response. You should consider reaching the neighborhoods within a 10-25 mile radius of your location. Also, it's important to know whom you're reaching — some direct mail pro- viders mail to apartment complexes while others mail directly to homeowners. Someone who rents an apartment prob- ably isn't going to care too much about repairing their air conditioner or furnace. Homeowners who are responsible for re- pairs on their HVACR equipment, how- ever, will care more about saving and be more likely to take advantage of an offer. It's also important to take the time to evaluate the average income for the surrounding areas and target neighborhoods that fit your customer demographic within those zones. 13 HVACR BUSINESS OCTOBER 2017 www. hvacrbusiness .com Knowing how other brands in your market interact with customers can provide insight on how you can best reach your target audience and appeal to their demands. Smart marketing tips and advertising strategies to increase customer engagement and ROI BY MIKE TINZ DIFFERENTIATE YOUR COMPANY continued on page 14

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