This home improvement month we want to recognize the important role contractors play in maintaining the comfort, safety and reliability of homes. Many homeowners look to contractors during times of crisis — like when their furnace fails during a cold snap or their roof leaks after a storm — and trust the contractor to make the necessary repairs. Other homeowners may want ways to potentially save money or to make their homes more resilient and turn to installers to learn more about solar panels and battery storage systems.
Regardless of the reason, for many homeowners, their contractors become a sort of hero — guiding them in decisions that affect their homes and their daily lives. Your customers may be dealing with a lot right now — with rising inflation and an increase in erratic weather patterns. Show your customers that you have their best interests in mind by pausing to really listen, ask questions and offer solutions during every stage of the project.
When you take a consultative approach with your customers, it can help you close more deals. Here are a couple of common scenarios.
Scenario One
A family has a broken A/C system in the middle of a heatwave.
During months with intense weather, home improvements are more important than ever. Customers with an emergency repair or replacement may have different needs than those who simply want to upgrade an existing system. In an emergency, some customers may not have any money saved — but still need the A/C fixed as soon as possible.
How the consultative approach can help:
- For some customers, the cash price might be the best option. Or, they may prefer a deferred interest loan that lets them keep cash in their pocket, but allows them to pay it off over time before they accrue any interest on the loan.
- For others, an unexpected expense may be a burden. They may appreciate longer-term loans that make the project costs more manageable — and allows them to purchase a better, more reliable system.
Scenario Two
New homeowners want to make energy-efficient improvements and need financing options they can repay over time.
Whether it’s adding solar panels, switching from gas-powered appliances to electric or installing an EV charger, your customers may need longer-term financing options to convert these upfront expenses into affordable monthly payments.
How the consultative approach can help:
- Listen to the new homeowners’ needs, and explain the benefits and drawbacks of different financing options to find what works best for them.
- For a smaller job, like switching a gas stove to an electric, cash may be the best choice.
- For larger projects, bundling projects together into a longer-term loan might help them afford more and better upgrades (while also helping you to increase your margins.)
Contractors are an essential part of keeping homes running. As a contractor, homeowners look to you for expertise. This home improvement month, focus on listening intently and understanding your customers’ situations and motivations. Whether through cash price or financing options, knowing how to meet your customers’ unique needs will help you offer the best solutions and grow your business.