In 2016, 80 million smart home devices were delivered worldwide, a 64 percent increase from 2015, according to IHS Markit. Partially responsible for this growth are IoT devices like Nest thermostats and smoke detectors, August smart locks, and Ring video doorbells; as well as an onslaught of smart devices that can be controlled through popular voice assistant technologies like Amazon Alexa and Google Home. And the momentum hasn’t slowed down in 2017. Consumers are significantly more familiar with the term “smart home” today than they were just a year ago, with a survey by the Z-Wave Alliance showing that in 2015 67 percent of consumers knew what smart devices were; in 2016, 97 percent said they knew the term.
Consumer interest for smart home technology is an all-time high, yet there are some very valid reasons why many homeowners have yet to take the plunge. One of the biggest impediments: The security risks associated with IoT devices and systems. Don’t let this concern prevent you from turning a profit, however. It could present you with a great opportunity to develop and manage a successful recurring revenue program. A ConnectWise tip: By charging your clients a flat monthly fee for preventative maintenance of their home’s connected devices, you provide them with valuable peace of mind, as well as a few other benefits that can add to your bottom line.
Here are a few other ways ConnectWise suggests that a monthly fee for IoT maintenance and checkups can help your business prosper:
- You come out looking like a hero. When snafus on the home network disappear and products work reliably, your clients will be so impressed that they’re bound to spread the word. It’s the best advertising you can get.
- You’ll stay sticky with your customers. By actively checking up your clients’ smart systems, you’ll be well poised to offer solid advice on potential upgrade paths. You’ll be able to recommend new tech to add, updates to make, and tips for increased reliability. By positioning yourself as a helpful advisor, your clients will see you as indispensable, and will trust your recommendations.
- Greater long-term profitability. Technology is always changing. By staying abreast of the smart tech industry and relaying that information to your clients, they’ll stay with you for the long haul.
- Fewer truck rolls. It goes without saying: If you can monitor systems and remedy problems remotely you’ll need to dispatch fewer trucks and technicians to job sites. This saves money, time, and allows you to react faster to customers’ concerns—likely even before they realize there is a problem.
- Join the Do It With Me Market. Many of the uber-popular IoT devices are intended to be installed by do-it-yourselfers. However, a large segment of this market still appreciates a helping hand from a knowledgeable expert. Here’s where you come in. Include hands-on assistance as part of your maintenance contract. It’s a good way to introduce your clients to new ideas while adding one more branch to your stream of recurring revenue.
The Internet of Things and voice control aren’t going away. These technologies stand to dramatically change the smart tech landscape, and to generate exciting, dynamic, profit-generating opportunities for you, and ConnectWise is here to help. It’s time to strike while the market it ready and willing to pay for a well-organized and managed monthly tech maintenance service.