Grow Your Security Company Series, Part 1: 40+ Questions Every Security Company Must Answer
40+ Questions that will help you start to grow your security business today
In today's saturated market, standing out is no longer optional; it's a necessity. The security industry, with its unique challenges and fierce competition, is no exception. Companies must go above and beyond to not just attract attention but to keep it—by offering something others don't. Yet, how do you take these unique differentiators and broadcast them effectively to your target market? How do you create a lasting impression that turns prospects into loyal customers?
I speak with a lot of security professionals, some run large security companies, and some own and manage smaller local security businesses. Except for revenue and geographical capabilities, there are a few things that create a difference in each business. One of the biggest differences is that the smaller companies' employees have to wear multiple hats, whereas the larger companies have different departments with trained professionals dedicated to their piece of the jigsaw. Marketing and Sales is one such area that smaller businesses cannot always afford to have a dedicated person.
The reason I started Redcoat Media was to help security businesses that need support with marketing and sales, That way they could still grow while concentrating on providing exceptional services to their customers. These companies need to compete with the big security companies that claim to provide every service available in the marketplace but often only treat each customer account they support as a revenue number on a spreadsheet and lack the personal customer service touch that smaller companies can provide.
Whether you have a security business that has been in business for 30 years or only a few months there are questions you need to ask yourself regularly regarding your business, competitors, and customers. The sooner you answer them the sooner you will start to realign your company into the path of successful growth. These questions seem simple and obvious but are often overlooked or forgotten about due to heavy workloads and busy lives. I advise that you work through these questions and answer them honestly by writing down the answers so that you can start to see where you might need to improve your sales and marketing strategy.
Aim to be Different and Unique
In business, a "differentiator" refers to a unique characteristic or feature of a product, service, or brand that sets it apart from competitors in the eyes of the target customer. Differentiators are key to creating a competitive advantage in the market. They provide a reason for consumers to choose one offering over the others that might be similar or offer the same basic solution.
Differentiators can come in various forms, including Quality, Price, Service Level, Technology Provided, Design, Reputation, Convenience, Ethics, and many more. The problem with differentiation is that all the other security companies say the same basic things which means they are not differentiators. Such as “We provide the best training. We have a guard tour management system that allows you to see what we are doing”. “Our recruitment team finds the best security officers”. “Our technology will allow you to see more data to make decisions” and so on.
Taking the time to understand your differentiators is a key ingredient to success in the competitive landscape of the security industry. But more than that it also requires keen insights into both your competition and your ideal customers.
"If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you
know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle."
― Sun Tzu, The Art of War, written between 475 and 221 B.C.E
Below are 23 key questions that a security business owner or manager should ask to ascertain what sets their business apart:
23 Questions About Your Competition:
Who are my main competitors?
What are their strengths and weaknesses? (Research them Online, talk to people in the industry, their customers, and anyone who might give you intelligence and insight)
What services/products are they offering?
How do these compare with what we offer?
What technologies are they using?
Are they more advanced, or can I get an edge with better technology?
Do I need to create partnerships with other service providers to compete?
How big of a threat is not adapting to the changing market to my business?
What is their pricing strategy?
Are they competing on price, quality, or something else?
What is their sales pitch?
What are they telling prospective customers?
How can your pitch allow your business to shine over theirs?
How strong is their brand and more importantly their reputation?
What do reviews, customer testimonials, employees, and your network say about them?
Do they have any unique features or offerings?
Are there services they provide that I currently don't?
What channels are they using for customer acquisition? Online ads, partnerships, sponsorships, etc.
How responsive are they to market changes and customer needs?
Do they adapt quickly, or is this a potential weakness?
Are they local, regional, national, or international?
How broad is their reach and does it present an opportunity for a niche focus?
Is there a need for a different service such as a patrol service over onsite officers or remote monitoring due to a recession or mass budget lowering?
Once you have answered these questions honestly for as many big, medium, and small companies in your geographic area you can start to see patterns, such as where the industry is moving with technology, hybrid solutions and training, etc.
Knowledge is Power
- Sir Francis Bacon, written 1597
Knowing your competitors is half the battle. Also knowing your potential customers is just as important. If you do not fully understand their niche vertical market, their pains, wants or hates, and even their geographic and socio-economic stressors you will be at a disadvantage. How can you attract, pitch, and sell the right solution or service if you do not understand their specific requirements or pains?
20 Questions About Your Potential Customers:
What does my ideal customer look like?
What vertical market should I be focused on? List them!
What are their demographics, psychographics, and pain points?
Can each vertical market afford my service or solution?
What are each vertical market's main security concerns? List them!
How can their business, geography, or services cause them security challenges?
How can we solve that problem and how can we tell them we can solve it?
What are they seeking most in a security service?
What is their history with security services?
Has the market been filled with low-budget or low-quality providers etc.?
What is their budget?
Are they cost-sensitive or looking for premium services?
Where do they search for security services? Online, trade shows, word-of-mouth, etc.
What factors influence their purchasing decisions? Price, features, brand reputation, etc.
What level of customer service do they expect?
Is 24/7 support crucial, or is quality more important?
What additional services could make their lives easier?
Are they looking for a one-stop shop for all their security needs?
How does that vertical market feel about technology?
Are they comfortable with high-tech solutions, or prefer traditional methods?
By thoroughly examining these questions and researching the answers (not just believing you already know, as things might have changed), a security business can pinpoint what truly differentiates its company in its market or how it can adapt to differentiate itself further.
These differentiators can then be leveraged in marketing and sales strategies to attract and successfully sell an ideal solution to the perfect customer. Differentiators are crucial in marketing strategy as they are usually the focal point in promotional activities and campaigns. The effectiveness of a differentiator in attracting customers often depends on how well it is communicated and how much it aligns with the needs or desires of the target customer.
If you need support with answering these questions or creating a sales and marketing strategy Redcoat Media can help. Led by Ed Newman, a seasoned veteran with over 16 years in the security industry, our team knows exactly what it takes to stand out. We don't just help you identify what sets your company apart—our consultative approach ensures that these differentiators are front and center in every marketing campaign, sales pitch, and customer interaction.
