Customer Acquisition Cost: Do you Know Yours?

How much does it cost you to acquire a new customer? Most security companies don’t really know – but they should. If you’ve ever seen an episode of “Shark Tank”, one of the most common questions from the Sharks is: what’s your customer acquisition cost? It’s a key metric for any business, and one you…

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Lifetime Value of a Customer: What’s Yours?

There are a few key numbers that are extremely valuable to know, as owners plan and make investment decisions. One of those is the “Lifetime Value of a Customer”, or LTV. It’s pretty simple to determine, so let’s step through the process. No doubt your company has a wide range of recurring revenue amounts for…

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CRM Software for Security Dealers: A Must Have

A CRM is generally understood to be software that helps you manage your customers and prospects. But when I hear “I really need a good CRM!” the real question is: what are you trying to manage? Lead Management CRM vs. Customer Management CRM Often what they really want is not a customer management system, but…

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DON’T SELL! (But Be Ready To)

Many of our customers have owned their security alarm business for a long time…20 – 30+ years. Some are baby boomers that are no doubt thinking about retirement. Other owners have pulled back from their business a bit, and are in maintenance mode, enjoying the recurring cash flow. In the latter case, Cornerstone serves the…

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Weather Disaster: Is your Alarm Business Prepared?

Planning for a weather disaster is no fun at all. Yet, when the winter storm hit last month Texas businesses that did have a disaster recovery plan were much better able to preserve their revenue streams and reputations. Many of those that did not…failed. Having no plan meant many companies suffered both short-term financial and…

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3G Upgrades: Good Process can Ease the Pain

Security dealers have worked very, very hard for their base of loyal subscribers. Every year, it takes work to KEEP those subscribers. This year, it’s going to take more work than usual. Major wireless companies like AT&T and Verizon are sunsetting their 3G networks, as you know. What a pain in the butt! Ignoring this…

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Alarm and Security Service Software: Why SSaaS beats SaaS

One of the big buzzwords right now is “SaaS”: Software as a Service. Today  I’m coining a new term (drum roll please…): “SSaaS.” Let me elaborate on both of these and explain why SSaaS is superior.  Cloud-Based or Local?  The old business model for software, of course, was to buy it, install it on the local network, then maintain and upgrade it over time. MANY companies in…

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Break the Spell of the Typical

We humans like our routines. I have many of my own that I follow day to day, week to week. One of the reasons 2020 has been so stressful is that our routines have been disrupted – often completely messed up. Covid has been the great disruptor, like a major life event – an accident,…

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