Design, install, and go. For decades that’s been the business model for most electrical contractors, especially ones that service and support small and medium-sized businesses. The focus has been to keep their offerings simple and streamlined in the face of an increasingly competitive low voltage landscape.
That model is changing, however. As the growing IoT market gains more traction with small and medium-sized business owners, new opportunities are opening up for forward-thinking electrical contractors who want to increase their margins, stand apart from competitors, and build longer-lasting relationships with their customers.
New Opportunities for ECs
The Internet of Things isn’t just about convenience. Increasingly, for many business owners, the IoT means leveraging smart devices and systems that can help them lower and control costs—especially when it comes to increasing the energy efficiency of their buildings.
Electrical contractors—who already have close relationships with small and medium-sized businesses—are in a prime position to deliver the connected power solutions these businesses are looking for. These solutions can include higher-margin offerings like the installation of smart meters, smart sensors, and smart panels.
How ECs Can Take Advantage
Like any industry, electrical contractors need to stay current (no pun intended) and on top of shifting trends in their profession. To capitalize on emerging opportunities in the IoT market, electrical contractors need to get trained on how to design, install, and monitor connected power solutions as well as Ethernet and other broadband solutions.
Learning to design thoughtfully planned smart infrastructure along with high and low voltage power can give ECs the edge when it comes to installing structured wiring. Always remember to install the best accessories like media distribution panels.
That’s only the technical side of things, however. To fully leverage the opportunities presented by connected power solutions, electrical contractors need to build new value-added IoT and smart services into their core offerings. This also means spending significant time testing out how those new offerings can be presented and communicated to their customers.
Smarter Buildings Start with Smarter Infrastructure
When it comes to presenting smart building options to business owners, it’s easy for ECs to focus on the IoT devices or systems being considered. But there are other upsell opportunities in smart building design, however, which can all roll up to increased margins for electrical contractors.
From design to installation to ongoing service and support, smart buildings that leverage IoT devices and systems represent a major area of opportunity for electrical contractors.