What does the CoronaVirus Mean for HVAC Businesses?

In the event of a lockdown is HVAC an essential industry?

According to the U.S. Department of Homeland Security Essential Businesses include:

  • Emergency Service Workers 

  • Workers such as plumbers, electricians, exterminators, and other service providers who provide services that are necessary to maintaining the safety, sanitation, and essential operation of residences

  • Workers to ensure continuity of building functions. Read the entire press release here

Are homeowners canceling appointments or do they still need/want HVAC services?

We talked with many clients across 38 states and some of them have had record sales this past week.

 

ServiceTitan gathered data from more than 4,000 of the most successful HVAC Contractors. Here are a few takeaways from their first report:

  • HVAC service demand remained steady across the USA.

  • “Nationally, there has only been a relatively minor decrease in inbound call volume of 2%.

  • “After the first recorded COVID-19 related death, there was a quick spike in job cancelations in Washington, but cancelation rates quickly dropped and normalized. We expect that many contractors have felt (or will feel) a sharp spike. You may want to avoid making quick decisions based on that spike. The data shows that this is temporary, and cancelation rates return to normal after a few days” Read the entire report here

Should I spend more on advertising or cut back on it during these times?

We’ve noticed a surge in lead volume over the last week across many of our clients and it appears like Social Media Ad campaigns are on sale right now with other businesses pulling back. 

 

According to The Harvard Business Review: “Companies that were able to increase share of voice by maintaining or increasing their advertising spending captured market share from weaker rivals. What’s more, they did it at lower cost than when times were good. On average, increases in marketing spending during a recession have boosted financial performance throughout the year following the recession.”

 

They also stated that the most successful companies during the last recession spent more on direct response marketing and online marketing and pulled back on traditional branding campaigns. Read the entire article here

What recommended precautions should we take?

  • Have Office workers work from home as much as possible 

  • Technicians can dispatch from home as much as possible

  • Practice safe distancing and avoid shaking hands with customers

  • Sanitize and wash your hands before and after working

  • Provide Virtual Sales Quotes/Estimates

Do I Qualify for a $10,000 Government Grant?

According to the Official Government website they are offering grants up to $10,000 to businesses with under 500 employees.

 Address. 5051 Horseshoe Pike Honey Brook, PA 19344

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