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Three Challenges (and Opportunities) for Home Services Providers in 2024

Whether you are a plumber, electrician, or HVAC contractor, your business is constantly changing because your customers and their priorities are always evolving. Here are three trends, and the opportunities they present, for home services providers that could lead to new business and revenue growth.

1. Incorporating Smart Home Technologies

In 2020, nearly 20% of home damage claims were a result of water damage and freezing, according to Policy Genius. Consumers are adopting smart home technologies at an increasing rate to prevent water issues from happening, including installing leak detection devices that can significantly reduce the risk of damage.

The same trend holds true for electricians and HVAC contractors. For example, Ting devices are designed to detect arc faults in wiring systems, often the precursors to electrical fires. They are growing in popularity and are even provided at no charge to homeowners by some insurance companies. Indoor Air Quality (IAQ) monitoring systems have surged in popularity since the pandemic and can be added to both new and existing HVAC systems.

It is imperative that your services include smart home technologies and that your technicians are trained on how to explain their benefits to customers, as well as the use and service of these new technologies.

2. Supporting Environmental Sustainability

Consumers continue to embrace ways to “go green,” not only to sustain the environment but also to save money. With the effects of inflation, consumers are experiencing higher bills for their everyday expenses, including their utility services.

As an HVAC contractor, you can create a win-win for customers by installing a new heat pump. According to the National Resources Defense Council, “moving heat with electricity is several times more efficient (2-5x or better depending on the conditions) than ‘making’ it by burning fuel.”

With leak detection devices, plumbers can also help customers to save money and help the environment. According to the Environmental Protection Agency, the average household’s leaks can account for more than 10,000 gallons of water wasted every year. Grey water systems that reuse water from your home for irrigation or other purposes are growing in popularity. And while some homeowners may try to do it themselves, most will need installation and maintenance services.

Electricians can capitalize on trends in the EV charging market, According to the EPA, 80% of charging is done in the home, and many consumers may require electrical upgrades.

Read more about how “Going Green” is good for your home services contracting business.

3. Creating a Mobile-First Approach

Consumers of all ages are using their phones as a primary way to communicate. And many contractors already use mobile as a way for technicians to contact both the office and the homeowner. It’s time to consider what back-office system upgrades you need now to enhance the customer’s experience, as well as your technicians’ ability to provide excellent service. Some things to consider:

  • Do you have a system that alerts customers when a technician is on their way to a customer’s home with an estimated time of arrival?
  • Do you solicit reviews via text, making it easy for customers to provide feedback?
  • Is your website mobile-optimized so that it is easy to read and use on a small screen?

A great way to keep up on the latest trends in the home services industry is to join a network of home services providers. Make sure the company provides the right resources, expertise, and technologies to set you up for success and growth.