Empower Your Business: How to Stay Ahead in the Electrical Industry

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Amidst the challenges and opportunities of running a small business, one thing remains clear: staying informed and adaptable is crucial.

How can you ensure you stand out from competitors, maintain relevance, and lead in innovation?

We've compiled 5 tips to help you stay ahead of the curve and embrace the evolving landscape of our industry...



# 1. Amp Up Your Digital Presence
In today's digital age, having an updated Google business listing and website is crucial for the your success of your business. Customers often find reputable electricians online, browsing through businesses near them to make their choices.

Including your business location, trading hours and contact details helps potential customers find your business easily when they perform "near me" searches. In the latest BrightLocal Report it reveals that 66% of consumers trust Google when researching information about a local business, with "near me" searches increasing by 136% in 2023.

By maintaining a robust and up-to-date online presence, you ultimately boost the visibility and credibility of your business in the local market, driving more traffic to your website and increasing the likelihood of converting searchers into loyal customers.



# 2. Leverage Reviews and Referrals
By leveraging customer reviews and referrals, you enhance the credibility of your business and tap into a cost-effective and powerful marketing strategy.

Referred customers often have higher retention and conversion rates, leading to sustained growth and a loyal customer base. Australian consumers are particularly responsive to word-of-mouth recommendations; a Nielsen study found that 92% of Australians trust recommendations from people they know, fostering long-term customer loyalty.

Online reviews are equally impactful; a 2021 Podium study revealed that 88% of consumers trust online reviews as much as personal recommendations. After completing a job, ask satisfied customers to leave a review on your Google My Business page or other platforms.

Highlight positive testimonials on your website, social media and marketing materials. Additionally, offer incentives like discounts or service credits to customers who refer new clients.

Incorporating these strategies will attract new clients and build a community of loyal customers who advocate for your business, driving long-term success.



# 3. Stay Up-to-Date
To stay competitive, keep a close eye on the industry and its latest developments. Continually look for ways to improve your offerings and remain current.

The Australian smart home market, which includes the installation of smart lighting, heating, cooling and security systems, is expected to grow at a compound annual growth rate (CAGR) of 15.3% from 2021 to 2026, driven by consumer demand for convenience and energy efficiency. Additionally, the EV market in Australia is rapidly expanding, with EV sales more than doubling in 2023 compared to 2022, and over 180,000 EVs now on Australian roads. This growth is expected to continue, with projections indicating a 30-50% annual growth rate over the next few years.

As the demand for smart home solutions and EVs grows, so does the need for related services such as home and commercial EV charger installations, maintenance and upgrades.

Regularly participate in industry seminars and look out for latest training and webinars through Middy's Academy focused on emerging trends and technology. Specialising in these areas can not only expand your service offerings but also position your business as a leader in this high-demand area.



# 4. Grow Your Team
By hiring new talent, you not only invest in the future of your workforce but also create opportunities to decrease work time, increase job completion capacity and upscale your operations. An expanded team can handle more projects simultaneously, leading to improved efficiency and scalability for your business.

Whilst hiring someone full-time may seem financially challenging, there are flexible options to consider. You can explore hiring contractors, part-time workers or apprentices to meet the needs of your business.



# 5. Stay Compliant
To ensure compliance with the law and maintain safety for yourself, your staff and your customers, it's crucial to stay updated on regulatory changes and procedures.

Compliance with electrical regulations is necessary for obtaining licenses and certifications required to operate legally in the industry. Without proper accreditation, electricians risk losing their licenses and facing restrictions on their ability to work, which can ultimately affect their livelihood. Additionally, according to a survey by Master Electricians Australia, 93% of Australians believe that electrical work should be performed by licensed professionals who adhere to safety standards.

Regularly reviewing updates from regulatory bodies such as the Electrical Regulatory Authorities Council (ERAC) and staying compliant with the latest standards is essential. Organisations like the National Electrical and Communications Association (NECA) provide reliable support, information, and education to help professionals stay informed about industry regulations and best practices.

Consider attending a Middy’s Info Night for the latest information from industry experts and seminars focused on electrical regulations and advancements. These events provide valuable opportunities to learn about the latest updates, exchange knowledge with peers, and discover new tools and technologies that can enhance your business practices. 

Staying compliant not only ensures the safety and reliability of your installations but also builds customer trust and credibility. Building a reputation for safety and reliability can lead to increased business opportunities and customer loyalty in the competitive electrical market.