There are two general types of leads in the HVACR industry, those that someone outside of your company generates for you (third-party leads) and those your company generates for itself (in-house leads). Both types can be excellent sources of short-term revenue and can successfully address current budget shortfalls and cash-flow constraints. However, it’s important to realize that in-house leads are far more valuable than third-party leads in terms of reducing risk, building a stream of recurring revenue, increasing the strength and quality of your customer database, and increasing the value of your business.
In-house leads are generated through your own direct marketing efforts, which can take an almost infinite number of forms. Third-party leads are leads that come your way through resources other than your own. A great example of a third-party lead is a lead generated through a partnership with a big-box store, so I will use that as the example for the remainder of this article, even though there are several others. It’s a great example because nearly every large big-box retailer or wholesaler is now offering repair and installation of HVAC equipment through their store, which is almost always sub-contracted to a local HVAC contractor like you.