The security industry is expanding as more people become aware of personal protection needs. The “North America Home Security System Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023,” from ResearchAndMarkets.com found that the market was valued at $3.9 billion in 2017, and is expected to grow to $12.11 billion by 2023. Key factors contributing to this growth are the evolution of new technologies and the increase in construction activity.
The report also revealed that professionally installed security systems represent the leading market segment, followed by DIY security systems. Predictions for improved network infrastructure may further expand the DIY and remote monitoring markets. While it may seem positive that more consumers and building managers are aware of security concerns, alarm installation companies are now faced with the challenge of competing with the quickly-evolving DIY industry.
The “smart” home and home security monitoring systems that homeowners install on their own without an alarm installer company both represent serious competition. But there are many ways local alarm installers can win against today’s growing DIY home security industry:
- Remind them of your expertise: Your marketing must consistently point out the differences between professionally installed and monitored security systems and products that can be bought on Amazon. Your company backs up its equipment with maintenance support and engineering services that a product manufacturer simply does not supply.
- Build confidence in your services: Use your marketing and social media to remind security-conscious consumers that your company is an expert in assessing a situation and finding the right combination of products and monitoring services to create a feeling of security.
- Show how you take away anxiety: Those who rely on their own monitoring systems can become anxious about whether the equipment is functioning properly, and may find they are constantly checking to see what is happening at their home or business. This detracts from their ability to focus on their own job, or interrupts the enjoyment of a relaxing vacation. Remind customers and prospects that your business provides peace of mind with 24 hour security, monitoring, and communication with local emergency services personnel.
- Stress your benefits: Some home or business insurance policies will allow discounts for professionally installed security equipment. In addition, many older or technically challenged consumers are overwhelmed by the onslaught of technology and the need to be tethered to a smart phone. Show how your company removes all these concerns.
The benefit of a professional alarm installation company is that there is a real person with knowledge and expertise that can help ensure home and office security. Build those relationships, stay in touch, and constantly remind your customers of all your company offers that they don’t get by installing their own security system.
El Dorado Insurance Agency, Inc. is celebrating over 50 years as a reliable leader in the insurance industry. Call us today at 800-221-3386 to receive a free quote or visit our Application Center to apply for alarm installer insurance.