HVACR NewsMagazine

New Products & Innovations

contractors include an entry level piece of connected technology, such as the Nest Learning Thermostat or the Google Home, on every bid for a system or as part of a “good, better, best” offering. This simple strategy will increase the number of winning bids, increase the average ticket price and an increase customer satisfaction. Further, introducing your customers to connected technology will likely lead to repeat business. Market research has shown that individuals who purchase one connected device for their home are 40% more likely to purchase another connected device in the near future. That percentage goes up even further if they have a voice assistant present in their home. (Martin, 2017) Connected products also mitigate the seasonality of the HVAC business. If a company’s business model is made up of system replacements and repair work, adding in connected products that are released regularly throughout year give contractors something new to talk to customers about each time they are there. Because this category is still young, this is a prime opportunity get ahead of the curve and secure your position as a leader in connected solutions. As this category matures and reaches the mass

market, your business will be integral to implementing connected solutions in your area. Instead of watching from the sidelines, now is the time to think about how you can leverage this category to grow your business. Molly McCrory, Connected Solutions Specialist, Ferguson HVAC To shop connected products, visit Ferguson.com Laposky, J. (2017, May 23). Smart Speakers are Driving Smart-Home Growth. Retrieved May 23, 2017, from Twice: http://www.twice.com/news/home-automation/smart-speakers-are- driving-smart-home-growth/65109 Greenough J. (2015, August 21). The American Smart Home Market:, Retrieved February 20, 20178, from Business Insider Martin, C. (2017, July 12). Voice Assistant Device Owners Likely To Buy More Connected Devices. Retrieved August 23, 2017, from MediaPost: https://www.mediapost.come/publicaions/article/304176/voice- assistant-device-owners-likely-to-buy-more-c.html?edition=104187 (Article furnished by cheryl.ruoff@ferguson.com)