Survey: Marketing Spending Slashed by 22%
The reeling economy has dictated an environment of frugality for most U.S.-based businesses. So it should come as little surprise that installing security contractors are exercising austerity in their sales and marketing spending. The good news, according to SECURITY SALES & INTEGRATION’s 2008 Sales & Marketing Survey, is that the cost per account has receded and there are several sales strategies that continue to be effective.
Evidence of how security systems providers are keeping an eagle eye on their bottom line include: more outsourcing; rising use of trade shows to reach many prospects simultaneously; overall reduction in offering customers sales incentives; more vigilance in tracking sales leads; targeting the perceived cost effectiveness of online advertising; and shunning labor-intensive sales and marketing tools like presentation books and client newsletters.
Among the dozens of other key industry trends and statistics uncovered by the Sales & Marketing Survey — SSI’s sixth since 1992 — are that relationships with IT/network specialists are becoming among the most fruitful for gaining new business and security contractors are continuing to reallocate marketing budgets away from the residential sector. In addition, some of the least expensive techniques, such as referrals and community networking and canvassing, continue to be the most successful.
Find out what your colleagues are doing to stay competitive in today’s harsh business climate. Consisting of the responses of nearly 100 security contractors of all sizes from coast to coast, the following study results and insightful analysis zero in with laser-beam precision on the shifting forces reshaping the sales and marketing dynamics of the installation side of the industry.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
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!