Report: 43% of Security Contractors Tab Customer Loyalty as Biggest Bottom-Line Boost
Nearly three in four installing and/or monitoring security systems providers say their businesses are on more solid financial ground than they were three years ago. While plenty of challenges remain, this is fostering an environment favoring the exploration of new technologies, services and markets. All of which are fleshed out in the 2013 Operations & Opportunities Report.
Finding a way to increase technicians’ productivity and efficiencies, as well as sell more to existing client bases while at the same time maintaining the quality of installations and service, are among the most pressing challenges security company owners and managers are contending with today. Better training, management and incentives are among the solutions. That’s part of the 30,000-foot view gleaned from SSI’s fifth annual Operations & Opportunities Report (OOR).
This unique, original research pinpoints security integration, dealer and monitoring companies’ top money-making and cost-saving ideas, leading growth opportunities, and surveys operational metrics. Nearly 400 executives, supervisors and managers from across the United States and Canada, representative of all sizes of operators, were queried about a wide range of topics aimed to not only ascertain how to most effectively grow profits and cut costs, but also the particulars of implementation. Participants were additionally asked to call out new technologies and services with the greatest upside potential, as well as the most robust vertical markets. A number of financial and operational questions were also presented.
Some of the most interesting and provocative developments from 2012 include: general video surveillance and access control posted strong gains as nonrecurring revenue-generating technologies; health care, residential and education are on the move as nonrecurring revenue-generating markets; mobile device-enabled interactive services and PERS registered higher as recurring revenue-generating services; employee salaries is the leading drain on companies’ bottom lines; and almost 43% of respondents say reputation/referrals and customer loyalty/satisfaction provide the biggest boost to their bottom lines.
Read ahead for so much more — literally a wealth of data and analysis. Note all changes from the prior year are referred to as percentage points rather than percent as the latter would actually be a larger figure because it would reflect the percentage of change rather than purely points. Use the OOR to gauge if your business is on the right course to close out 2013 or begin 2014 anew.
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