Fast FactsA periodic bulletin on Programs, Products, Promotions and Services that will drive your Sales, Efficiency and Profitability
IT’S THE LITTLE THINGS… There is no magic bullet on how to survive in a down economy. However what I can tell you is that if you implement one (best practice) business strategy, life gets a whole lot easier. Here it is: As you are aware, replacement retro-fit business is pretty moody these days. On the other side of the coin, service work is up considerably. As a result, service technicians can make a huge difference if they do one little thing…offer accessories on every service call.
We’re not asking your techs to hard sell anything just offer products and quality of life solutions. A perfect example of how this works is to put a consumer-electronics chain Best Buy on the pedestal. Every time you buy anything from Best Buy – a game controller to a flat screen- their associates offer you an extended warranty. In most cases, this task is being performed by a minimum wage person. However, the results are impressive. According to Best Buy, they sell them ONE OUT OF EVERY THREE TIMES they are offered and it’s a HUGE source of their profitability. What is their secret? All they do is offer them! If a minimum wage Best Buy associate can do it, then there is absolutely no reason why your service technician can’t pull it off!
This is how it can impact your business-one service technician at a time:
· One Service Technician
· Five Calls per day= 25 per week X 50 weeks (two weeks vacation)=1250 per year
· If this technician offers accessories on every call, according to industry averages they will sell approximately 400 of them
Sales X Extra Ticket=Additional Sales
400 x $50=$20,000 in revenue
400 x $100=$40,000 in revenue
400 x $250=$100,000 in revenue
400 x $400= $160,000 in revenue
400 x $999=$399,600 in revenue
(Multiplied by how many service techs
On your staff)
Possible Products in this category
Carbon Monoxide Detector
Electronic Air Filter, Media Air Filter
Preventative Maintenance Agreement
UV Light, Thermostat upgrade, Air Cleaner
ActivTek AirScrubber, Wireless Thermostat, Zoning
Once again, no high pressure sales tactics here… just offering products with direct consumer benefits. To drive the process, we encourage you to incentivize your technicians with a spiff on any of these products sold. It works and many of our customers swear by it (in a good way).
Bottom Line…It’s a WIN-WIN-WIN scenario… As a business owner you gain much needed revenue and profitability during these uncertain times. The consumer gets peace of mind with quality products that provide IAQ solutions or energy saving benefits. And the service technician gets to earn some extra money in a time where they might not be guaranteed maximum hours.
Where do you start? You can think about it and procrastinate for a while and never do it…OR you can implement the strategy TODAY! All we are recommending is that your technicians OFFER products to consumers that are already doing a transaction with your company. How easy is that? Your Ferguson H&C TM can help you with the process. That’s another great offer!
Contact you Ferguson Heating and Cooling Territory Manager for more information.
John Clifford –Sales Manager
Ferguson Heating and Cooling
