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Why You Should Offer Flexible Payment Options

Sep 14, 2020 10:07:47 AM

After six months of the global pandemic, businesses are finally beginning to re-open and grow. At the heart of it all is the security industry, key to ensuring the safety and well-being of the masses. Through a surge of thermal cameras, and smart-home technology that aims at automating your home to keep it more sanitary for everyone around you, our industry is somehow playing a role in hitting the world’s reset button to return to normal.

Further, the return to normal means that companies are having to invest in security systems to avoid liability during the massive “return to work” journey. Unfortunately, the pandemic has caused a loss of revenue for many businesses and industries, creating a vicious cycle of the need for a security system, but not being able to afford one. Here’s where you, the security dealer, come in to play.

Flexible Payment Options

The solution here can benefit not only the customer, but the dealer as well. By maintaining scalable subscription models, you can ease the burden on the customer as well as increase your recurring monthly revenue.

According to a Brivo’s survey of 500 security professionals in 2019, 42% suggest that too small of a budget is the major barrier to purchasing or upgrading to new security technology. With COVID-19 now being a factor, many businesses struggle now more than ever to keep a stable budget. All the more reason that security dealers should provide affordable solutions at a predictable and consistent cost.

Implementing solutions similar to subscription-based programs allows a security business to serve a much larger audience of customers that otherwise simply wouldn’t be able to get their hands on the technology needed to continue business. Paying on a month by month basis just makes sense in a time like this. Consumers should be able to afford their much-needed upgrades or an entirely new system, with a more modern and reliable payment system in place.

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