SELLING SECURITY SYSTEMS IN AN

EVOLVING TECH- ECOSYSTEM

A study by Cliff Makanda and Christian Krehbiel

EXAMINING OUR SALES STRATEGY

TRADITIONAL SALES STRATEGIES➤ Door-to-door sales.

➤ Online Sales Platform

➤ Referrals

Success rate is a random variable. Tight regulations against door-to-door sales.

Customer selects package, gets quote. Success rate is low

Success rate is more than 30 %.

TRADITIONAL SALES STRATEGIES➤ Lead Generation

➤ Red Ventures➤ USAA

WHY CUSTOMERS REFUSE TO BUY A PRODUCT THEY NEED ?➤ Packages are expensive➤ Lack of understanding of security systems.➤ Underestimate the importance of a security system.➤ Home Security systems is not a very enticing subject.➤ No government regulation requiring people to have a

security system.

How can we improve our Sales Strategy in a dynamic environment ?

MAKING SECURITY SYSTEMS MORE ATTRACTIVE TO

CUSTOMERS

EXAMINE OUR CUSTOMER PROFILE➤ Our focus on the middle

aged working class and elderly people.

➤ The trends of the upcoming generation of customers show an increase in technological skills.

CORE AND EXTERIOR CUSTOMERS➤ Influence of a

technological revolution.➤ Uniform demographic

preferences.➤ Shrinking gap between

core and exterior customers.

MAKING SECURITY SYSTEMS A PART OF THE HOME➤ Targeting all family

members as a demographic.

➤ Creates greater chance of referrals amongst different demographics.

PROPOSALS

Choices, Chances, Changes

LEVERAGING HOME SECURITY

AND AUTOMATION IN

ADIGITAL ERA

UTILIZING REVOLUTIONARY TECHNOLOGIES

➤ Artificial intelligence, machine learning and consumer products.

➤ Voice recognition and control systems, digital auto- assistants such as Apple’s Siri.

BRIDGING THE GAP BETWEEN FAMILY AND HOME➤ Expand our products and services range to all family

members, making them more enticing to the customer.➤ Focus on mobile applications with user integration.

➤ Example : Making a “simple” mode which makes the system easier to use for children or elderly persons.

SCIENTIFIC STUDY OF CONSUMER PREFERENCES➤ Big data, data science and consumer preferences

➤ eg .Customer behavior patterns can help us anticipate and predict their product needs.

INFLUENCING RELUCTANT CUSTOMERS

1. Those who can’t afford a security system: Introduce a (limited) tiered pricing model. Costs of security system is determined by customer’s income bracket.

2. Customers do not see the need for a security system: Aggressive product education and marketing. Lobbying the government to mandate a necessary standard for a home security system.

3. Customers can afford, see the need but are unwilling: Offering a limited time free trial to eligible customers. Eligibility determines by income, job security, family structure

4. No appropriate security package:Customizing security packages according to consumer

preferences. Changing online sales model into an interactive model. Learning about customers, offering a personalized their security package

Recommendations and Conclusions

➤ The digital progress can be an asset or a handicap. Structuring products and services according to technological advances is a necessary.

➤ Strengthening our automation systems and utilizing IoT by investing more in research and development. Use data and automated systems to develop and improve products.

➤ Adapting our business to the evolving technological ecosystem. Placing less emphasis on sales strategies and more on our products and services.

➤ Be prepared for more competition. Automation and IoT presents opportunities for new competitors to enter the security industry.