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Is Security A Value Proposition or Insurance?

Posted By Dave Simon, Tuesday, July 19, 2011

As the nature of the security business changes, ESA members need to fundamentally rethink their business plans. For many, many years, our members were "just security companies.” We sold the systems, installed the contacts and motion sensors, put in the keypad, then monitored for potential break-ins.

Over the past 50 years, maybe even 60, we were considered "insurance.” We helped insure the premises were protected. We’re more than that now, and if your company is not, you need to be thinking of new ways to be out front to give your customers additional products and services they seek.

The term we should now be using is "value proposition.” Rather can considering an ESA company "insurance” in terms of protection, potential customers want to know what "value” we provide. Can we help with home energy management? Do we offer video cameras? Can the system be operated conveniently through a cell phone?

All these are legitimate questions customers are asking today, and will continue to ask more frequently in the years ahead. So, prepare your answers. Expand what you offer customers. Go beyond security. Once you start down that path, you’ll find new products and services that help you stand out. Not only will customers get the "insurance” they seek, they’ll also find that your company becomes a "value proposition” for them, as well.

Tags:  blog  insurance  integration  value 

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