Once a fringe technology, photovoltaic technology is quickly becoming mainstream, and every year the industry marches closer to mass adoption. With massive growth projected well into the future, many entrepreneurs and startups are jumping at the opportunity to get into the solar game early on, and solar equipment stores are popping up in towns all across America. But, like any business, for all the opportunity the solar industry offers, if approached without care, it can also quickly lead to losses. With that in mind, here are three simple, but highly effective tips that new solar equipment sellers can use to help maximize profits and ensure a healthy business.
Embrace Installation and Maintenance
The market for residential and commercial solar power is exploding, and while a certain demographic of mechanically inclined customers will opt to simply order their own panels and handle the installation themselves, a large percentage of customers will need professional installation help. That’s especially true for commercial installations, as well as complex residential systems. There are certainly convenience benefits to offering equipment sales only, especially in the case of online-only stores, but there is a huge amount of money to be made on installation and maintenance, and embracing that side of the industry is a great way to boost profits.
Minimize Inventory as Much as Possible
Solar technology is 99% cheaper today than it was roughly forty years ago, and one of the main reasons is that the efficiency of solar cells is constantly improving. That means that inventory left collecting dust in your warehouse devalues itself as newer, more efficient panels emerge, and unit prices fall. The speed of devaluation is not extreme like with computers, so with carefully managed inventory, there should be no problem. But new entrants into the solar game who overestimate their market or their dedication to the business and end up sitting on inventory for years will not do well. As such, it’s crucial to minimize inventory as much as possible – a delicate balance important in all retail, but especially in solar.
Utilize a Good Customer Resource Management Tool
The huge amount of opportunity and growth potential that exists in the solar power industry makes it extremely competitive. Combine that with constantly falling unit prices, and the sales environment can be downright cutthroat. To succeed, companies need to stand out from the crowd, and the best way to do that is through service. Better interactions with customers, better relationships, better sales calls, and better support are what make the difference in an industry where it’s hard to differentiate on product. A good customer resource management tool makes providing that elevated service easier than ever by automating and streamlining almost every customer-facing process in business.
CRMDialer is a fully-featured customer resource platform that combines all the benefits of traditional CRM with an industry-leading power dialer. CRMDialer’s powerful lead and customer management tools enable you to provide better, more personalized service to each and every prospect and returning customer. The full communications suite brings all of your business email, texting, and calling into a single platform, and the power dialer supercharges your staff’s ability to make effective sales calls. CRMDialer also features a built-in billing and electronic payments suite to make it easier than ever for you to get paid quickly, as well as a full host of other productivity tools ideal for solar sales
Contact us to find out more about how CRMDialer can help boost your solar equipment sales while simultaneously making life easier for you and your staff.