Who’s There? Secrets to Successful Door-Knocking for Traditional Dealers
The best minds in this industry are capable of mind-bogglingly simultaneous calculations about cost of equipment, cost of sale, labor costs and account valuation that make business strategy seem obvious and almost easy.
One such a mind resides in the head of Select Security CEO, Patrick Egan. A few years ago, when companies like Vivint (then APX Alarm) and AMP began grabbing market share in Select's home markets in Pennsylvania, he didn't whine and complain. He went to school on their model and tried to figure out if he could adapt it to his business—out knock the door-knockers, so to speak.
Today, Select is now in the fourth summer of operating its own program. They are more than pleased with the results — projecting the addition of more than 2,000 new high-RMR, high-value accounts.
And they'll be looking to use the technique to door-knock its own accounts for upgrades.
"You have to be all-in for the programs to work," said Egan when we caught up with him recently over crab cake sandwiches in Baltimore.
"Yes, we have a selling and service advantage over the only-summer model companies of the world because we are local for installation, service and even monitoring and that's valued by the consumer. But operationally, there are a lot of things you need to make the program work. Electronic contracts, auto debiting and same-day installations are keys to selling and on-boarding. And there are unique requirements for recruitment, management and monitoring of the sales team. You also need quality assurance techniques to ensure the consumer has full awareness of the terms of the sale."
Select, which is in growth mode and rose from 69 to 59 on the SDM 100 this year, is continuously looking at the best ways to add to its account base. Egan, however, is convinced "direct selling" programs (his moniker for door-knocking) usually offer a better value for accounts additions than acquisitions. Benefits include fresher contracts, updated and more standardized technology and higher RMR through interactive services.
Here's the best part. Egan is willing to share lessons learned at ESX. His seminar, "How You Too Can Do Residential Direct Sales (a.k.a. Door Knocking)," will take you step-by-step through the critical elements of a program and help you understand its advantages and challenges. For complete information about the seminar, click here.
Don't get left behind in today's competitive market. Check out the preview of this session and then register for ESX today.