ihiji’s Mike Maniscalco Addresses Residential Security Opportunities
Mike Maniscalco of ihiji shares his assessment of the residential security market.
In honor of SSI‘s annual November Residential Issue, my Between Us Pros column includes comments from four leading home controls and services market experts. In a series of four blogs, I share the complete Q&As. This installment features ihiji‘s Mike Maniscalco.
What is the greatest residential opportunity presenting itself to security dealers/integrators right now?
Mike Maniscalco: A huge opportunity that continues to grow is the Internet of Everything. Devices like Nest and Dropcam are disrupting existing technologies. These devices require solid wired and wireless networks as well as proper network management. This ongoing service and support also paves the way for new recurring revenue offerings around remote network management.
How can companies best take advantage of the above opportunity or opportunities?
Maniscalco: To capitalize on the Internet of everything trend, home technology professionals must be experts on the latest technologies to serve as a trusted advisor and solution provider to their customers. They also must leverage new tools for better support and ongoing management of this connectivity.
What are the top barriers or challenges to succeeding in today’s residential security marketplace?
Maniscalco: Staying up to date on the latest technology is difficult with the pace that everything is moving. Using new tools for proper management is a new requirement in the increasing complex world of connected devices. Additionally, keeping staff trained and educated is a requirement for success.
Which is the better sales approach today, leading with security or with home automation-type convenience services? Why?
Maniscalco: Many home technology professionals can benefit from leading with both depending on how the customer is initially acquired. The key is getting a foot in the door and establishing yourself as the expert and trusted advisor.
Should security dealers be concerned about telcos, cablecoms, DIY and all the rest that have jumped into residential security? Why or why not?
Maniscalco: Yes and no. The large players have big marketing budgets and existing customer base. They can quickly reach more customers and jeopardize the integrator’s sale, but they are also educating a customer base on the features and benefits of home automation and security. Additionally, the telcos and cable companies have traditionally struggled with ongoing customer service, which is where a home technology professional can shine. Leading with service, especially around proactive service agreements can make a home technology professional stand out from the pack.
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