As the professionally monitored security market experiences double digit growth, new entrants — specifically the cable industry — are competing on price, so dealers can be successful in the market by highlighting personalized, responsive service that contrasts with the poor customer service experience of competitors, suggests Tom Kerber, director of research, Parks Associates, Dallas.

To succeed, combine “wow”-level service with a plan to actively let your customers know that you offer a complete range of home controls and interactive services, he adds. “Aggressively sell interactive services and home controls to improve the long-term value of your customers (RMR and retention),” Kerber advises. He notes that Parks Associates research shows that more than 59 percent of U.S. broadband households have some level of interest in safety, security, and convenience benefits enabled by security and smart home products.

From the article, "How to Find Success in the Residential Security Market: by Heather Klotz-Young.

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