New business and customer retention are the pillars of a healthy security alarm business. There are simple ways that security dealers can accomplish both with minimal effort. Add these 5 tips to your current efforts to improve retention and gain new customers.
Network. Networking is not confined to business conferences or leads meeting. You can expand your network and uncover opportunities anytime that you encounter people. Be intentional about making new connections and nurturing your current connections. Put time in your schedule weekly or monthly to network with complementary businesses and end users.
Deliver Exceptional Customer Service. We often talk about customer service as the benefits to existing customers, but it can also drive new business. At every customer touch point, from invoicing to support, validate that choosing your security alarm business was a great decision. Empower your team by giving them access to customer information so that support and field calls run smoothly. Don’t just focus on reactive customer service but proactive service. Reach out to customers to share information and tips and remind them that you value referrals!
Sell to existing customers. A great new source of business are the customers you have already won. They know and like your business but may forget the other things that you offer. Make sure that you consistently communicate all that you offer to your existing subscribers. This will ensure that you don’t lose customers because they don’t know all that you offer!
Use social media. You can maximize your networking time by using social media to engage with prospective security alarm customers and referral sources. For example, you can spend 10 minutes in the morning on LinkedIn, reading and offering comments in an industry group, or sharing articles and commenting on Twitter. Build on these online relationships with a phone call or in-person meeting to share information and look for ways to partner. Move potential subscribers to the next step by offering to share additional information via email or invite them to subscribe to your newsletter.
Bill what you are monitoring.Bill what you are monitoring. One way to grow your business is to make sure that you are billing all of the accounts you are monitoring, monitoring all the accounts you are billing, and not paying for accounts that have been cancelled. Do a quarterly audit to ensure that there are not discrepancies, and if they are, fix the errors.
Bonus tip: Bill on time. Having a consistent billing and collections process is vital to growth and your bottom line. Good billing and payment processes help to smooth out cash flow and give a better overall picture of your revenue.