Experts Explain How to Make It Rain RMR at ESX
Electronic security experts encourage integrators to offer networked and integrated devices, as well as deploy remote service capabilities to customers to help drive recurring monthly revenue.
One of the best attended educational sessions at the Electronic Security Expo (ESX) held June 23-27 in Nashville, Tenn., was “The RMR [recurring monthly revenue] of Everything.” Moderated by John Galante of AE Ventures, the seminar’s panel consisted of Chris Gilbert (Security Pros), Jay Kenny (Alarm.com), Joe Nuccio (ASG Security) and Michael Maniscalco (ihiji).
Speaking first, Kenny, a frequent contributor to Security Sales & Integration, talked about how the escalation of data points in the home (lights, flood sensors, energy control and the whole Internet of things concept) will open up evermore opportunities for security systems providers and monitoring concerns. “The complexity of the emerging connected home puts us, the security industry, in a great position to help those homeowners manage it all,” he said.
Maniscalco, who also participated in “The Residential Supersession” that was hosted by SSI and held later that day, discussed how the rising sophistication of networked and integrated devices and systems is paving the way for security integrators to offer service & maintenance agreements to their client bases. He recommends dealers charge 5%-8% of the installation price for such agreements. Maniscalco further advised attendees to deploy remote service capabilities for system troubleshooting, reboots, upgrades and more. Easily enabled by today’s software, this approach saves the provider time and money in not having to roll a truck to the customer site, and the customer receives faster response and less downtime.
Nuccio, an SSI Industry Hall of Famer and member of the publication’s editorial advisory board, is extremely dialed in to pursuing recurring revenue and in particular advocated video surveillance as a service (VSaaS) and fire systems services as rapidly growing opportunity segments. “If you can’t derive RMR from it, don’t install or sell it,” he said. “Home automation is a modern-day land grab and there is much opportunity at all levels.”
Gilbert closed the session out by presenting many of the findings from SSI‘s 2013 Installation Business Report to support his premise that the access control market is rife with ways for security providers to boost their RMR.
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!
Recommended For You
Cloud security can present a paradox: companies love the flexibility and versatility of cloud security management, but are unsure if the cloud itself is secure enough to house their vitally important systems.
From processing power to lens selection to proper positioning, here are 13 tips to help shed light on proper installation of cameras in low-light conditions.