Why Integrators Should Keep Security Monitoring Fees
Instead of selling alarm accounts, Eagle Sentry now keeps them, boosting recurring revenue per account from $8 to $30/month.
Members of the CE Pro 100 are gathered for the CE Pro 100 Summit to share some of their most-effective business practices. CE Pro is highlighting several of these tips.
Eagle Sentry in Las Vegas has made a dramatic change in its recurring revenue strategy that has substantially increased its profitability.
For the past 13 years, Eagle Sentry has sold its alarm accounts to a local security/monitoring facility and shared in the recurring monthly revenue, which amounted to $8 per month per account.
At the beginning of 2010, Eagle Sentry negotiated with the local central station to keep its own monitored accounts, paying the central station a fee for the monitoring and guard response. Instead of making $8 per month per account, the company now keeps around $30 per account per month.
Eagle Sentry also is embracing non-landline monitoring via Alarm.com. Eagle Sentry charges its customers a nominal fee to add a GSM module to their alarm system, giving customers cellular monitoring and the ability to access cameras and receive text message or e-mail notifications of alarm activity.
Eagle Sentry charges an additional $15 to $40 per month on top of its regular monthly rate for the GSM monitoring.
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Jason Knott is Chief Content Officer for Emerald Expositions Connected Brands. Jason has covered low-voltage electronics as an editor since 1990, serving as editor and publisher of Security Sales & Integration. He joined CE Pro in 2000 and serves as Editor-in-Chief of that brand. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He has been a member of the CEDIA Business Working Group since 2010. Jason graduated from the University of Southern California. Have a suggestion or a topic you want to read more about? Email Jason at firstname.lastname@example.org
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