Are New Technologies a Threat or an Opportunity?
Over the last several years many in the alarm industry have been distressed over the many new entrants into the market. With the integration of automation, video, and other security-based systems the market is now being driven by industries not before associated with the alarm industry and technologies that did not even exist just a decade ago. It is transformative, and for many, concerning. But the real question is, are these new technologies a threat or should they be seen as an opportunity?
New Opportunities to Grow the Pie
The huge marketing budgets of companies and suppliers like Nest and SimpliSafe can be a bit intimidating to smaller, independent companies who can feel pushed out. However, you can use their spend to your advantage! More marketing surrounding the technologies creates increased awareness and demand which you can capture. Use the conversation as a way to uniquely position your company and its offerings in this exciting market.
Consumer Attitudes are Changing
Since the home security industry is now so tightly associated with the automation market, consumer attitudes are changing. Whereas home security was once seen as a valuable and important “extra” it is now seen as a tool for daily living. For every company in the alarm industry, that is a very good thing. Embrace the influx of technologies by offering integration which will provide increased opportunity.
Gaining the Edge
There might not be a way for independent companies to outspend and out-market the large corporation, but there is a way to leverage their efforts to your advantage. The audience is there and attentive and it is up to you to educate them. A faceless corporation can throw information at the consumer, but they cannot connect with them personally. Those customers will inevitably have many questions about the ever-changing technologies. Stay educated about and ahead of the new technologies. Help consumers make sense of the many offerings and they will reward you with their loyalty. Have questions about increasing your market share? Give GMS a call today!