Business
Top Tips to Help Security Companies Improve Business
With two months left in the year, it is a good time to review your operational processes. Examine your business with a critical eye to determine that you are not only doing the right things but doing them in the right way. If you are behind on the technology curve, this is the year to…
Read MoreHow Customer Service Impacts Attrition
This month we have been focusing on security alarm customers. We have discussed the impact of customer service , how to retain customers and how to manage difficult customers. In today’s post we address how customer experience can impact attrition, turning a potential loss into a win-win for you and the customer. According to the US Census…
Read MoreDon’t Get Angry, Get Smart – Dealing with Difficult Customers
One of the most challenging tasks to deal with in business is handling difficult customers and situations. Whether these customers are angry, frustrated, or simply demanding, it’s hard to be calm, maintain a professional attitude and not get defensive. An old phrase we hear over and over in business is “the customer is always right.”…
Read More5 Communication Tips to Keep Security Alarm Customers!
Think long term. It costs more to attract new security alarm customers than retain current ones. In fact, an often quoted statistic indicates that it is 5-10 times more expensive to acquire a new customer than it is to keep a current one. Your customers are the reason you’re still in business. While it’s important to acquire new…
Read MoreYes, It’s More Important Than RMR
Recurring Monthly Revenue is the key benchmark our industry uses to value security companies. As such, it gets lots of attention. But there’s another benchmark that’s even more important: Recurring Monthly Profit (RMP), defined as Recurring Monthly Revenue – Recurring Monthly Expenses = Recurring Monthly Profit It’s more important, because it requires a focus on…
Read MoreBilling Multiple Locations…Easy, Right?
As billing agent for our security company customers, we are often asked to help set up multiple location billing. The situation could be as simple as billing both a home and a business or lake house on a single bill. On the other hand, it can be as complex as billing 300+ supermarket locations on…
Read MoreIntegrated Inventory Management for Security Dealers
Inventory can be the backbone of a good customer management system. At the basic level, inventory is used to maintain a list of parts you sell along with a description of each part, the selling price and your cost. Advanced inventory management may include physical stock counts (on hand, on order, short on tickets), multiple…
Read MoreSize Matters: Top 5 Advantages of Small Security Dealers
Today small security dealers are not just facing the traditional battle of David versus Goliath but David versus Goliath versus the Internet. In addition to multi system operators (MSO) like Xfinity and nationwide security system companies, small security dealers are also competing against internet connected devices that have changed the DIY market. Consumers with an…
Read MoreThe Impact of Customer Service on Your Business
Creating and managing a first-rate customer management system begins with the mindset of the owner and employees and their dedication to exceeding customer expectations. The payoff for these companies is huge: lower attrition, more referrals to new customers, more cross-sales and a longer average customer life. These all add up to faster growth, higher profits, and…
Read MoreZip Line Networking
When you’re having a blast zip lining down a gorgeous mountain, the LAST thing you want to think about is networking, right? Wrong. And I have quite a story to prove it. Our family spent a week vacationing in Costa Rica last winter, and we booked a zip line experience for one afternoon. A zip…
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