Page 72 - Security Today, July 2017

BRAND MANAGEMENT
By Lindsay Lougée
INVEST IN MARKETING
Strengthen your reputation and generate sales
he Super Bowl is the biggest marketing and advertising event on American television. TV networks sell 30 sec- ond commercial ads for an average of $5 million to one of the largest audiences of the year. Interestingly enough, the corporations investing in Super Bowl advertising
have established brand recognition, but continue to advertise to en- hance their customer base, strengthen their positive business reputa- tion and generate sales in the future.
The Super Bowl proves an important theory to home security business owners of all sizes: marketing increases sales. Although top home security companies cite door-to-door sales as more than 90 percent of their sales growth, exercising marketing efforts, such as radio ads, trade publications or local TV and newspaper ads, can generate revenue. Marketing should be an ongoing initiative for ev- ery successful business regardless of how large it grows or how much brand recognition increases.
In the home security industry, the importance of investing in marketing is the fuel for your company’s business engine. Without fuel, your engine will stop running.
MARKETING ENHANCES THE CUSTOMER BASE
Thriving businesses must continue to grow year over year to survive in the ever-evolving alarm industry. Over the course of a year, prod- ucts and services change, customer needs evolve and public percep- tion changes with the economy. Tying together business changes is a chance to enhance the customer base through an effective market- ing strategy.
An effective marketing strategy also targets different audiences as the business evolves. Dealers should take a moment to think about the demographics of customers targeted at the birth of the home security company. If the company was established a few years ago, you should be able to see how your customer base has changed since inception. Traditionally, Cheerios targets families. During the Super Bowl, Cheerios continues to advertise to families, but grew to target- ing families of different races and types to continue expanding their customer base. The question is: does your current marketing strat- egy reflect the change of audience? If not, pinpoint avenues to update your marketing plan.
MARKETING IMPROVES BUSINESS REPUTATION
Why should prospering home security businesses continue market- ing after establishing high brand recognition? It is imperative to con- tinue investing in marketing efforts to maintain a positive reputation or repair a negative reputation. For example, joining the Super Bowl conversation on social media opens dialogue between the company and the consumer in real time. This creates immediate feedback to introduce new products or hear from an overlooked audience. The highly competitive nature of businesses in the alarm industry dic- tates companies continually work to maintain and improve customer
relationships. A customer with a positive perception of your home security business is more likely to continue frequenting your business in the future.
At MONI Smart Security, the company recently began investing in more in brand management, shaping the identity in the eyes of the consumer as trustworthy, tech-forward, and committed to protecting what matters most.
Your company should continue evolving, growing and improving. Your customers need to trust you are evolving your products, grow- ing within the alarm industry and improving your customer service. Using marketing as a reputation management tool keeps your cus- tomers in the company evolution while also introducing new cus- tomers to your business.
MARKETING WILL DRIVE YOUR
COMPANY INTO THE FUTURE
Too many small business owners see marketing as a survival mecha- nism to maintain a flow of new customers. Instead, they should rely on marketing as a tool capable of driving customers to their busi- nesses in the future.
An effective marketing strategy is forward-looking. It may appear to concentrate on the present while accounting for the successes and failures of the past, but it ultimately looks forward — growing and expanding your business by attracting new customers who will stick around long term. In fact, 29 percent of viewers were likely or ex- tremely likely to become a customer of the brands with the best com- mercials within three months.
Long-term success requires ongoing marketing efforts regard- less of the industry. Stay consistent in your message and channels, be genuine, and remain true to your core values, and customers will respond in kind.
Lindsay Lougée is the senior communications specialist at MONI Smart Security.
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