How Do Your Prices Compare With Your Competitors?

In the September 2023 Snapshot Survey, we asked contractors how they prices compare to their competitors’ prices. Here’s one survey question and its results from the summary report, which is available in it’s entirety by Contractor University members here.

How Do Your Prices Compare to Your Competitors’ Prices?

A significant 54% of respondents price their services higher than their competitors, suggesting superior value or unique services. This strategy, while potentially more profitable, requires careful market positioning and customer communication to justify the premium pricing. 13% match their competitors’ prices, and 10% price lower. Notably, 23% do not monitor competitors’ prices, indicating a confidence in the value proposition of their services, despite the potential risks of pricing above market average.

Here’s what an HVAC contractor from California:

“We are flat rate and more expensive than 90% of our competition. We make it clear we sell value and not price, and don’t ever want to be the cheapest.”

Contractor University members can click here to access all of our resources on setting prices.