The real estate market appears to have hit the skids…
Sky-high interest rates and inflation have cooled down the too-hot-to-handle seller’s market we’ve grown accustomed to over the last few years, and that could be GREAT news for your home service business.
As home sales trend down, more and more homeowners are choosing to stay right where they are and put their money towards equity-building home improvement projects and renovations. That’s the good news!
The bad news is you’re probably still facing the post-pandemic problems of labor and material shortages, long delays, unpredictable weather conditions, and supply chain issues.
So, what can you do to keep your home service business thriving in challenging times? We’ve got some great ideas to keep your team on top:
- Offer the Latest and Greatest
Technology is always evolving and that includes the tech tools we use to make our homes more comfortable, functional, and energy efficient. Stay on top of the latest home trends and do your research. You’ll need to educate your customers on why these top-of-the line products are so beneficial and life-changing. Show them how they can save time, money, and energy, and you’ll have no problem making the sale!
- Update Your Tech
Labor shortages mean that you’re taking on more tasks, and that’s not easy with an already jam-packed schedule! Look for apps, programs, and software that can streamline your business and up your efficiency. Consider adding online scheduling software or live chat options to your tech toolbox.
- Get Ahead of the Problem
Mother Nature has been on a tear this year, and while the unprecedented weather can make it harder to complete projects on time, it can also be beneficial to your service offerings. Offer preventative maintenance and other severe weather solutions to your customers. From regularly scheduled maintenance packages to inclement weather home safety tips and easy repair tutorials, your customers will thank you for helping them protect their homes in any weather!
- Build Your Team
More and more tradespeople are aging out of the home service industry, and there simply aren’t enough members of the younger generation stepping up to take their place. According to an Associated Builders and Contractors assessment, there are over 400,00 job openings in the US construction industry. Attract new blood to your business by offering competitive salaries, benefits, flexible hours, free tuition to training or apprentice programs, or substantial hiring and loyalty bonuses.
- Keep Evolving
Whether you’re a plumber, contractor, HVAC expert, or master electrician, your field is constantly changing. Is your business growing alongside the trends? It’s easy to fall into the mindset of, “we’ve always done it this way…” but that won’t help your business grow or attract a new generation of customers. Research the in-demand services in your industry and consider how you can incorporate or adapt those into your current offerings. Customers are looking for top-of-the-line service providers, and you want to prove that you’re miles ahead of your competition!
Resonetrics specializes in solving the problems home service providers face! When you’re looking to grow your business, bring in better leads, and drive more conversions, you need the marketing experts at Resonetrics! Visit www.resonetrics.com to learn more!
Or email Tamar Arslanian with a quick question.