Welp, it seems like just yesteryear that Willis Carrier invented the first AC unit. Fast forward 122 years and we’ve now got smart phone-controlled thermostats and AI-powered dispatch.
Each year, the HVAC industry makes new advancements as tools, technologies, and consumers evolve. And the more you know about these trends, the better you can plan—and not just hope—for success in 2024.
That’s why we’re covering eight HVAC industry trends to align with in 2024.
These eight HVAC trends cover a little bit of everything—sales and marketing, operational efficiency, equipment, and customer experience.
Did you know that over 50% of HVAC customers are willing to pay for a more eco-friendly and energy-efficient HVAC system?
Not only are consumers becoming increasingly concerned with energy efficiency and carbon footprint, but also, laws are slowly taking hold. Prioritizing sustainable solutions can help you to meet customer needs while staying ahead in compliance.
For example, electric heat pumps (vs furnaces), renewable energy sources like solar or geothermal, smart thermostats, and VRF (variable refrigerant flow) technology are all environmentally friendly alternatives that ultimately save money for the end user.
In addition to innovative and sustainable options for their HVAC needs, consumers today expect top-notch experience with any business. That means immediate responses to inquiries, quickly scheduled services, proactive outreach, personalized communication, and convenience at every touch point. And you cannot achieve these things without technology assisting you.
CRMs help you to organize your contacts and build meaningful relationships, automation allows you to respond and reach out at exactly the right times, and AI can help you to add more value to the experience through advanced insights and increased productivity. In addition, it will be wise to invest in new tools and technologies, which we’ll cover in a bit.
AI is trending and it makes sense as the new, industry-changing technology. There are many different use cases for AI, but for HVAC, their appointment setting capabilities are a must-have.
Call centers will use AI to help with the top of funnel appointment setting process to allow reps more time to focus on closing deals and managing customer relations. Appointment-based AI can also be used to confirm or reschedule appointments.
For example, Hatch Assistant provides AI-powered chatbots that engage directly with your customers. You create the bot, the personality, and some rules, then the bot will handle the appointments for you. The AI also handles back end admin work so your agents are free to focus on other aspects of their job.
Not convinced AI should be speaking directly to your customers? Take Hatch Assistant for a test drive and see for yourself.
We have been living in a digital age for some time now, but some industries are slower to adopt new technologies than others. Home improvement businesses and their call centers are one such industry—after all, call centers originated because calling was the best practice for so long.
But today, consumers prefer digital communication methods (text, email, social messaging) over phone. And that’s not just for initial contact, but also for appointment confirmations and bill pay.
The difficulty of incorporating digital channels into legacy systems is a common barrier to digital implementation—and a common contact center trend—but with it being the preferred method of communication among consumers now, the long-term benefits of aligning with consumer preferences far outweigh the hassles of overhauling your systems.
The HVAC industry is expected to continue to grow at a CAGR of 6.1% through 2026. This means competition will continue to grow, too. Which means that optimizing your sales and marketing strategies should be top priority.
You should be investing at least 7-10% of your revenue into sales and marketing strategies and tools like online advertising, SEO, listings, lead aggregators, CRMs/FSMs, and even into sales training and business coaching.
And invest is the word here. When done right, none of the money you spend on marketing is wanted. In fact, the average cost per lead for HVAC marketing on Google is $62—and with jobs earning you thousands of dollars, the ROI is undeniable.
That’s right, folks. Gen Zers are the newest generation of homeowners and this technology-savvy, transparency-seeking generation requires some changes to your marketing strategy. The key to the Gen Z heart? Corporate responsibility.
Find ways to support the issues you care about and give Gen Zers the opportunity to contribute. And prioritize sustainability—not just in the products and services you offer but in your own day to day operations. Go paperless to reduce waste. Offer tips on conserving energy. Adopt the same practices they do and you’ll have Gen Z customers in no time.
Connected HVAC systems connect to online networks and devices so you can monitor, maintain, and control your equipment remotely.They provide real-time data on temperature, humidity, and other system metrics, allowing users to optimize energy efficiency and ultimately reducing costs. You can either keep connected HVAC devices in supply or retrofit legacy equipment with smart devices.
I know what you’re thinking: Isn’t HVAC already a service? Isn’t “as a service” a software term? Yes and yes. With normal HVAC services, the homeowner purchases and owns the equipment, which the HVAC business installs and maintains. With HVACaaS, the HVAC business maintains ownership of the equipment and the homeowner pays a monthly subscription for the business to service and maintain it—largely through connected devices and the cloud.
HVACaaS is a win-win: HVAC businesses get more predictable revenue streams and customers experience the satisfaction and cost savings of maintenance and efficient service.
Maintenance is a big part of HVAC services. It helps homeowners to avoid expenses in the long run while supplying HVAC businesses with a steady stream of revenue. And AI can now help you scale your maintenance offerings without needing more technicians., AI-powered systems use sensors, data analysis, and machine learning to predict maintenance needs, which minimizes downtime and energy consumption. And instead of simply taking your word for it, homeowners now have concrete numbers to validate their maintenance investments.
Whether it’s equipment, the customer experience, your sales and marketing efforts, or the tools you use to optimize them, there are plenty of opportunities to level up your HVAC business in 2024. Take a look at how they apply to your current business model and prioritize accordingly!
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