Increased consumer awareness of environmentally friendly solutions like water-saving appliances, as well as smart technology and expansion into HVAC and more will boost opportunities for plumbers. More opportunities will lead to higher revenues, both in terms of size of individual tickets and number of customers, which will likely prompt a need for more solutions to accepting payment. With the Multiple Check and Check Guarantee services, Cross-Check can help plumbers accept larger checks with full knowledge that the payment will be securely deposited in their accounts.
There are several prevailing trends pushing the plumbing industry forward this year. Younger generations are purchasing property and the use of smart technology will be a vital component for making the sale. That includes water leak detection smart devices that notice any potential leaks before significant damage occurs. Bluetooth shower heads, smart water heaters and smart toilets that conserve water are also increasingly becoming staples in the industry.
“Green” buyers look to protect environment
As younger, more environmentally conscious consumers enter the club of homeowners, plumbers are also educating themselves on such options as greywater systems to reduce water waste and reduce the monthly water bill.
Another, equally important trend is consumers’ preference for one-stop-shopping. If a potential customer can hire one company to install and maintain plumbing, it’s a good bet that potential customer becomes a paying customer if the company can also provide installation of HVAC units, water treatment systems, water conservations systems and fire sprinkler systems.
More services and higher sales means expanded customer base and payment methods
Expanding on services is becoming increasingly common for the plumbing industry in order to not only maintain a competitive edge, but also to increase sales across the board. That requires investment in training and facilities, of course, but also raises the stakes as providers need to be ready to accept larger payments up front, regardless of method of payment.
Younger buyers desperate to break into an expensive housing market may have borrowed money from parents for a down payment. It is also likely they will settle on a house that needs some work in order to ensure they can afford the monthly payments and property taxes. As such, these are the customers most likely to immediately need plumbing, HVAC and other services. These younger buyers are often financially stretched as is, and the ability to offer Multiple Check as a payment option over interest-heavy credit may be just the incentive necessary to seal the deal.
Competition prompts need for flexibility
The plumbing industry as a whole is extremely competitive, with no single company claiming more than five percent of total market share. With such extreme competition, no company can afford to turn down a job if a customer produces a personal check that the plumber can’t verify ahead of time; neither can the company afford to lose payment for services provided because the check they did accept was returned unpaid.
CrossCheck’s Check Guarantee service will allow any service provider to accept a check with no fear of losing revenue from a job. Check Guarantee will add up-front comfort while the Multiple Check premium is ideal for a provider who can seal the deal by offering the customer a hassle-free – and interest-free – payment option on that new smart toilet. With Multiple Check, customers have the option of paying up front for services with several checks, which will then be deposited over time (usually 30 days to as much as 90 days) at agreed-upon dates. CrossCheck will also offer Mobile Pay, a smart app that will allow merchants to accept and process guaranteed check payments anywhere at any time. Merchants capture check images with smart devices (phones or tablets), then upload the images to CrossCheck for processing and fast deposits to their business accounts. For more information on Mobile Pay, go to https://www.cross-check.com/mobile-pay.