Where intrusion and fire alarm monitoring has long been the foundation of many security firms, various other types of monitored services are now producing plentiful recurring revenue and are fast becoming a mainstay of the future.
Fueled by technological advances, consumer demand, vast marketing efforts, among other factors, installing security contractors can now choose among a wide assortment of RMR-generating services to add to their portfolios.
The result is a stickier customer base that also builds measurable dealer company value. These services include numerous remote video offerings, environmental and supervisory alarm monitoring, lifestyle enhancement applications, and more.
CI sister publication Security Sales and Integration tapped a half-dozen experts from select wholesale monitoring providers to evaluate the marketplace, and lend direction for closing these sales more often and with more overall RMR-generating services.
The continued migration from analog video surveillance products to networked IP and hybrid systems is giving rise to a rich array of value-added services like never before. The result is recurring revenue streams built around remote video offerings for the commercial and residential markets, as well as industrial and critical infrastructure.
Moving beyond traditionally monitored intrusion systems, new business models are being implemented to deliver security and business management tools with newfound profitability. Third-party central stations are helping drive the value of remote video for independent dealers and integrators by investing significant capital to support these various services.
“In the commercial space we see the continued growth of remote video monitoring and voice-down intervention services driving the market demand,” says Jason Caldwell, a national sales consultant for Acadian Monitoring Services of Lafayette, La. “Top market segments include automotive, construction, retail, financial, industrial, critical infrastructure, transportation, logistics, visitor and delivery management.”
While simple remote video capability is not new to the marketplace, technological advances continue to fundamentally reshape the industry and its ability to provide end users with more robust applications and greater cost efficiencies. In short, mobile technology, the decreasing cost of IP cameras, increased bandwidth, improved video analytics and more are enabling companies to extend video monitoring service to a wider audience.
“The approach to commercial customers is to demonstrate the numerous capabilities that exist to have around-the-clock control. This is readily available to them through the use of video and time management services,” says Mike Zydor, managing director of Union, N.J.-based Affiliated Monitoring.
Read the full results of the Security Sales and Integration survey here.