Technology in the Home Improvement Industry

   WHERE ARE WE HEADED?

This is a critical question we must ask if we want to thrive as the Home Improvement industry changes and evolves. Along with the changing demographics and values of our society, technology is a big part of these changes.

Residential solar and the push to go “green” are a few of the changes that are still relatively new to our industry. But despite the newness of this technology, it has become a critical component of home improvement sales in the last few years.

In addition to new products being sold, new methods have been created in which these new products can be sold and presented. Phones, iPads and other tablets allow you to not only price your job, but also show you how the finished product will look on your house. These slick innovations are quickly becoming the norm in the home improvement industry.

From a financing perspective, in-home call-ins are now being done on mobile apps or other similar technology. The computer, the Internet and wireless communication are even taking over the brick and mortar, hammer and nail industry! Ironic, right?

We recently added our own mobile app at Medallion Bank to assist (and compete) in “one stop” Home Improvement industry sales. As a company positioned to serve you, we are adapting as well.

   WHAT DOES THIS ALL MEAN?

I think (and some may call me a dinosaur) that these are essential innovations, but they are no substitute for relationship building. Whether it be an Account Executive working for a bank calling on a contractor, or a sales rep in front of the homeowner, it still comes down to building that relationship.

I never want to leave a call with the contractor only remembering my iPad presentation or PowerPoint tutorial. I want them to remember me!! What do you want your consumer to remember after you have finished your proposal? The customer needs to remember all the information that you’ve delivered in a compelling, cutting-edge format, but if they don’t remember who you are… have you sold them on anything? Remember those great Super Bowl commercials from that company you don’t remember?

   TECHNOLOGY IS A VALUABLE TOOL

The key to success is using technology as a tool in building relationships, instead of using it as a substitute. Positive relationships will always be the backbone to sales, so be sure to use technology wisely.