Security industry executives continue to see a silver lining down the road, despite a business confidence dip during the second quarter of 2011, according to the Security Industry Association's Quarterly Research Update. While the findings reflect recent economic trends, they also point to specifics in our industry and where longer term growth will occur for ESA member companies.
For example, the intrusion sector is beginning to improve despite the rapid decline in 2009, and struggles of 2010. Forecasts call for recovery in global intrusion products, along with new opportunities for expansion in the years ahead. What does this mean for us?
Be ready. The areas where ESA companies expand in the years ahead will change from what it was in years past.
Prepare for wireless. Yes, the world is going wireless. Get on the bandwagon.
Smart phones are here to stay. That means you need to be thinking about how to integrate them into the products you offer customers. Get up to speed on their apps. Train your sales reps and technicians so they can effectively explain features to customers.
Growth will move into new areas, like home automation. The study highlights that these areas will actually outstrip security applications in the future.
We've preached all this before, but we'll stay on message. Look at change, and be willing to adapt, then adopt new products and services sought by the next generation of customers. It will ensure your continued success!