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…
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…
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…