As we navigate through another year of rapid technological advancements and shifting consumer behaviors, there are still opportunities for dealers and retailers to capitalize on new sales opportunities within the evolving landscape.
The essence of maintaining and expanding customer relationships remains paramount. However, the strategies to achieve success have evolved. Here are a few ways businesses can adapt their strategies to meet new demands:
Enhanced Integration and Smart Home Expansion
According to Parks Associates, smart home device adoption is increasing, with nearly 30% of U.S. internet households now having three or more smart home devices. Additionally, as we are seeing smart home system owners continue to add devices post-initial purchase, it’s clear that the demand for integrated and comprehensive smart home systems has not waned.
An emerging opportunity that has caught our attention is the significant growth in the lighting and shading market. The synergy between automated shading, lighting, HVAC systems, and security solutions offers a compelling proposition for energy efficiency and comfort, aligning perfectly with homeowner desires. This integration not only enhances the living experience but also contributes substantially to project revenue.
Diversify Your Product Inventory
(image credit (PowerHouse Alliance
In order to help expand your customer’s smart home, it is important to diversify the product categories you are offering your customers, especially during years when new product innovations are not as rapid. Focus on products that complement the existing ecosystem, like we just outlined with lighting and shading systems.
By broadening your product range, businesses can cater to a wider array of customer needs, ensuring resilience and sustained growth even in slower evolutionary product years. When it comes to taking on a new product line, your local PHA members are here to support you every step of the way offering both product demos and extensive product training to make sure you feel comfortable before ever installing it in a customer’s home.
Virtual Engagement and Digital Marketing
As digital transformation accelerates, engaging customers through virtual consultations, online marketing, and social media becomes increasingly crucial. This digital-first approach enables businesses to reach a broader audience, provide more personalized service, and stay connected with their customers in innovative ways. PowerHouse Members have found incredible success engaging with their followers on LinkedIn and this is a great place for many B2B companies to start.
With its extensive network across the United States, PowerHouse Alliance is at the forefront of supporting businesses as they navigate these trends. By leveraging the comprehensive support and resources offered by the PowerHouse Alliance, dealers are positioned to navigate the evolving technological landscape successfully, capitalizing on new opportunities and meeting the changing demands of consumers with expertise and innovation.
See also: Executive Insight: How Distributors Drive Innovation For Your Integration Business
