How To Grow Your HVAC Business In 2024

If you own an HVAC business that’s struggling, there’s no reason to give up. The HVAC industry will grow in the coming years so if you shift your strategy and implement some changes, you can capitalize on this growth opportunity in 2024. 

But, which areas should you focus on?

Join us as we show how to grow HVAC business from the ground up!

Why Do HVAC Businesses Struggle?

Even though the industry is experiencing a period of growth, the regular rules of business still apply. The current stats show that over 18% of businesses fail within the first year, and it’s expected for one in five organizations to go down within the first 18 months.

Don’t take this as a discouraging fact. If you’re struggling, you’re certainly not alone. Heck, if you survived the first year, that’s impressive in itself. 

Many HVAC companies are started by individuals who know a thing or two about fixing, repairing, and installing AC units. While that’s all fine and dandy, operating a successful business takes specific business and financial planning skills that few contractors possess. 

In addition to this, most HVAC companies lack the customers and the cash flow to keep their business afloat. One of the key reasons why is that these new businesses rarely get the opportunity to capture the attention of their prospective customers, especially when competing with older, more established companies.

This is completely understandable, though. At the time of writing, in one area such as South Florida, there are over 200 HVAC contractors. To learn how to grow HVAC business in such a tough market, you need to improve your online presence while also offering enough value to attract a large enough base of customers to remain profitable. 

Strategies You Should Consider 

Keep in mind that there’s no singular approach that works for every business. Sure, every HVAC contractor is providing similar sets of services, but the way they operate is purely unique. For instance, one HVAC business may operate in a saturated market, while another may be the only contractor in their local area. 

Their rate of growth will be completely different and they may have to fine-tune their approach until they get it dialed in. 

Regardless, here are some of the key adjustments you can make in your overall business strategy:

1. Target A Specific Market

Advertising your services is by far the most effective way to grow an HVAC business (we’ll cover that in detail shortly), but there is one mistake many new organizations make - they cast too wide of a net and waste resources advertising to customers outside of their area.

Since you’re tied to a singular location and you can only travel so far, you’ll likely get calls from customers who are relatively close to your primary business location. Focus on that area with your marketing campaigns and messaging and you’ll get better results. 

Knowing which customers you’re looking to serve will help you avoid wasting resources on targeting customers who are substantially further away than your target area who will choose to work with a business located close to their home anyway.

Plus, marketing isn’t just about tooting your own horn - it’s also about gaining the trust of potential prospects and assisting them in making the right buying decisions. 

So, you should also define who your most important customers are. Clarify what you want to focus on, like:

• Commercial HVAC services
• Residential HVAC services
• New home construction systems
• HVAC for apartment complexes

As a new business, you won’t be able to do everything while delivering a consistent level of quality. Knowing which type of customers you want to attract and dedicating more attention to outlining the exact services you offer helps you establish a solid base of customers.

As you grow and hire more people, you can expand by attracting other customer types or by covering a new area. But for the time being, establish a clear goal and stick to it. 

2. Offer Something Unique

Standing out from the crowd is not easy. Let’s face it, from the customers’ POV, all HVAC providers offer the same type of service. 

This is why you should try to do some things differently. 

When they hear this advice, most HVAC contractors automatically assume they can stand out by offering lower prices. However, this may attract some customers, but will also lead to profitability issues later down the road.

What you should do is think of some ways you can offer a better service and outline that fact in your marketing materials. For instance, let’s say you offer financing options. This can become a core offering mentioned in your HVAC marketing strategy. 

If everything works out great, your local customers will start viewing you as “that company with really sweet financing options”. 

3. Define Your Company Values

Have you ever stopped to think about why you’re in this business? By clearly defining your company values, you’ll not only have an easier time marketing your services, but you’ll also gain an edge in worker retention and hiring. 

Considering that the most successful companies place a large emphasis on having clear values reflected in their messaging, approach to customers, and hiring policies, you should take a note or two and implement it in your organization. 

4. Invest In Smart Digital Marketing

This is a no-brainer. After you choose the perfect customer profile, solidify your values, and figure out what’s unique about your offering, you can finally put some money into marketing. 

Traditional advertising is pretty much dead as most customers primarily turn online when looking for HVAC services. So, to grow HVAC business in 2024, you should put all your funds into digital marketing.

Here are some of the things you should consider:

• Build a responsive website that makes your service accessible to a wider audience
• Invest in SEO to boost your website’s ranking in search engine results
• Run paid ads campaign to reach customers looking for HVAC services
• Write engaging content to share values with your customers and boost your brand’s credibility

Along with this marketing strategy, we also recommend proactively boosting your reputation by generating positive reviews. This can not only amp up your SEO but also improve your brand’s credibility.

Grow Your HVAC Company With Oamii

So, that’s basically how to grow HVAC business from the ground up. Although experts working at Oamii can't help you figure out your company values, we can take your marketing strategy to a whole new level and set you up for online success.

With services tailored around your budget, Oamii can help you with web design, ranking higher in your local area, boosting your website traffic, writing high-quality content, and strengthening your online brand. 

Start growing your company now - fill out our contact form to schedule an appointment.