We've been hearing it for years: Here come the cable companies! With their ability to bundle certain services, we hope they bring a vigor to our industry that helps all of us grow. Any entrant into the electronic security industry can bring new ideas and services from which others can learn.
While we've seen their tentative steps before, and activity is heating up once again as Comcast has announced an expansion of its home security business into six additional U.S. markets – Philadelphia, PA, Portland, OR, Jacksonville, FL, Saratoga/Naples, FL, Chattanooga and Nashville, TN. Their service was first unveiled in Houston, 2010. Verizon, too, has been making news in the security trade press.
We believe competition is good, and we also believe current ESA members have unique offerings that set them apart in a competitive field. We are security experts! At the same time, as our industry develops in the years ahead, we welcome what others can bring to the table. There are many ways for us to expand, and cable companies will be able to demonstrate some new opportunities.
Every company must tailor its success to make it profitable. Finding your niche, such as customized service, is something that current ESA companies have in spades. We know our customers, we recognize their specific needs, and we give the type of special service that folks want. These advantages won't go away regardless of the competition.
The trend of large national companies from other industries entering the electronic security industry is going to continue. ESA members have strong business models, and we compete in an industry that is evolving in new directions. Our challenge is to be aware and prepared to meet what the customer of tomorrow wants.
We can learn and grow from the examples set by new entrants, and they can learn from us. For the future, we need to continue to learn and grow together to keep our industry strong.