It’s no secret that the electronic security industry is heading down some new roads. The weakened economy since August 2008 has affected sales, and forced installing and service companies to ask some deeper questions regarding how to provide value. It’s not just about selling security systems any more.
That may sound self-evident. Hopefully it does, because if you are in this industry, that means you’re monitoring the trends and thinking about what comes next. If you’ve secured a large segment of your target market, then what, for example, is next? Do you just try to sell more, merge with another company, or take your recurring monthly revenue (RMR) and twiddle your thumbs until housing starts expand?
A broader trend embracing our industry is the move towards “gadgetizing.” Yeah, it’s a goofy word, but what it really means is there are a lot of electronic apparatuses in everyone’s homes; tying them together so the home occupants can operate them through one focal point (their electronic hand-held device – a.k.a., their cell phone) simplifies their operation. If you can simplify a process for a consumer, then you provide value.
Companies providing home automation services through a cell phone are one-up on the competition. They’re leading the charge, responding to consumer demand, and leveraging the next generation (the “30 and under crowd” who like to use these types of technologies for more and more applications). These individuals will become the norm in the years ahead, rather than just serving as early adopters.
Prepare yourself. Home automation and management is how you deliver more to your customers. It’s what they want. It’s how they want to operate their homes. It’s not just about security. It’s about turning the lights on and off, saving electricity, checking up on the kids, being able to set the station and timer on the TV.
Back in the 1980s, there was a lot of talk about how home electronics would be managed centrally in the future. That’s become our reality, and the electronic security industry is poised to deliver it. Are you ready?