January 16, 2021
Competition in business is a blessing for without it, we wouldn’t be motivated to improve - Nabil N Jamal
Did you know that the security guard industry revenue has increased at an annualized rate of 1.5% to $5.6 billion over the five years to 2020? The demand for security guards, investigators, patrol guards, and other sorts of security services has increased tremendously making it a perfect opportunity for Security Guard Companies to increase profitability. Before you start celebrating a revenue filled year, you must know that you aren’t alone and that the industry deals with a slit-throat competition
Hundreds of other security services providers would have read the same stats and perhaps, are already working on strategies to emerge as a market leader.
Because both private and commercial entities are exposed to a range of risks, the need for security services is at its highest and hence there is a mushroom growth of security guard services, contributing more stiffness to the pre-existing dog-eat-dog condition.
Adding more stress on security service providers, the increasing knowledge of customers has given them even higher expectations. The customer today demands instant and guaranteed safety solutions which have made even the best businesses have a run for their money. Let us not forget the ever-changing technological environment which has kept security companies on their toes for a long time. The technological trends change every other day and being smart customers as they are, your client expects the latest solutions from companies.
Collectively, the competition continues to grow stronger and stronger, making a lot of companies wrap up as it gets tough to achieve goals for the survivors.
So, does this mean that your security guard business will have to die an untimely death? Certainly not!
As they say - ‘Competition is a good thing; it forces us to do our best.’ You need to take advantage of the competition and ensure that you are always the leader of the market. Maintaining your competitive edge is difficult but not impossible. All you need to do is strategize, improvise, and implement.
A combination of tools, techniques, and strategies will aid you in gaining a competitive edge. Smarter Security Company focuses on nullifying the effects of the competitors and stays ahead. If you are wondering how to be the best Security Guard Company, here is a complete guide for you to achieve your business goals and emerge as the market leader.
Use advanced technologies like Workforce Management Software
Automate to save Resources
Expand your Reach with Digital Marketing and Promotions
Upgrade your Staff to bring in more Talent and Skills
Boost accountability and earn Employee Satisfaction
Show a willingness to Adapt the new Normal
Offer Competitive Pricing
Discover newer Markets
Upgrade business with Partnerships and expansion
Utilize Business Management Strategies
1. Use advanced technologies like Workforce Management Software
While the unpredictable technological landscape can be a major concern for Security Businesses, it is also a tool you can use to leapfrog your competitors. Whether you are looking for more transparency in operations or trying to boost the security guard’s accountability, technology has a crucial role to play. The continuous development in mobile technology and communication systems has aided security services to become more responsive than ever. Easy access to patrol guards and real-time communication options ensures rapid response to any type of challenge and boosts business credibility.
Workforce Management Software, for example, is an all-inclusive tool aiding smart security guard companies in Guard Patrol Tracking, Workforce Management, Back Office Management, Security Services Management, and more. The more you rely on software for the best security business operations, the better you gain advantages of automation.
The real-time security incident reporting allows rapid communication with the guards ensuring the prevention of incidents. The data from the communication between the guards and the supervisor along with the actions taken can be recorded in the security incident reporting software and used as a reference. This enhances business preparedness.
Employee scheduling software & patrol management system empowers supervisors to utilize the workforce in the best possible ways. This saves you a lot of costs due to payroll overages and incorrect part reporting.
Technology can be used in multiple ways to earn profits provided you know how to choose the best Security Services Management tools and applications.
2. Automate to save Resources
Resources are valuable and optimum utilization of resources can help you expand your earnings. Most of the security companies failed to understand that automation is the most powerful means for saving resources. When you have Workforce Management Software handling your employee scheduling requirements, you do not have to maintain an entire team of human resources to do the task on a day to day basis.
Modern security management software can handle complete Back-Office Management responsibilities and complete processes in lesser time, investments, and efforts. Moreover, it also eliminates errors and provides more efficiency and cost- savings to the business.
When you have automated processes, you have more resources to dedicate to competitor analysis or in finding out the best security business strategy making.
3. Expand your Reach with Digital Marketing and Promotions
Marketing and promotions are one of the best ways to reach more qualified leads and boost conversion. Digital marketing is the most modest tool to expand your reach and make your customers aware of your offerings. The core aim of your marketing efforts should be building relationships with your customers and extending the customer lifecycle.
SEO, SMM, Guest Blogging, PPC, etc. are several ways you can use to advertise your Security Guard Company. However, before you pick the right means, you must understand the need of the industry and how the existing businesses are catering to it. Always know that the customer is looking for value, offer your product in a way that the customer gets value from it, and admires it.
Offer promotions and indulge in marketing strategies that set you like a distinctive business in the industry.
4. Upgrade your Staff to bring in more Talent and Skills
Embrace diversity and form a multi talented workforce. You need a security guard who has an in-depth understanding of the modern security landscape and one who can utilize modern technology for the benefit of the Security Guard Company.
If you have employees who cannot adapt with the time, your Security Guard Company’s existence is in great danger. You must focus on creating a diverse, open, dedicated, and zealous workforce that has a lot to offer to the customer and the Security Guard Company.
Each employee in your team must be able to outperform his/ her duties. When your competitor employs a security guard to perform patrol guard duties, you must have a security guard with knowledge of the Workforce Management System and the ability to create reports, and report incidents in addition to patrolling skills and experience.
The richer would be your staff, the more advanced services you can offer to your clients. Remember that for offering innovative services, you need a team of skilled and talented employees.
5. Boost accountability and earn Employee Satisfaction
If your employees do not feel accountable for their job, even the most diverse workforce can be of no use. Security guards performing patrol duties can easily miss a checkpoint or take frequent breaks between the shifts. A supervisor performing manual supervision would never be able to trace such shortcomings. However, the result would be increased incidents at the client’s site and lost client trust. To maintain consistency in your services, you need the employees to feel accountable for their job.
A Security Guard Patrol Tracking System is a great way to make the security guards accountable. The continuous tracking through the Guard Tracking System enabled with GPS technology keeps the guards on alert mode as they are always under the watch. Also, the easy-to-use reporting feature offers security guards accurate man-hour reports which further boost their morale.
It is also easy to evaluate the performance of an accountable security guard and reward them for their achievements. This aids in maintaining employee satisfaction. Additionally, the open communication system in the organization also builds mutual trust and boosts performance.
6. Show a willingness to Adapt the new Normal
You cannot win the market if you stick to the conventional business approaches. As time changes, the best Security Guard Services Company should be able to adapt. For example, the manual Scheduling System was prone to human errors. It is now wise to automate the scheduling process and offer an open shift feature to the security guards the guards, through Open Shifts, will be able to acknowledge the jobs assigned. They can also apply for leaves or request a shift swap. The use of technology can bring you a lot of benefits and savings of resources.
If you do not show the willingness to adapt and disregard the need for automation or any other technology for that matter, you will be left deprived of the benefits that your competitor would already be enjoying.
7.Offer Competitive Pricing
You can always win the competition by offering affordable rates. However, before you start selling your services for cheap, you must know the ideal price point. Understanding the prices of the competition’s goods and services allows you to derive the best value for your product. You must always try and bring more value to the table even if you have to price your services higher for this.
Using a competition-based pricing strategy often helps in gaining an advantage. However, to follow this strategy, you must have a clear understanding of your audience and the group they belong to i.e. lower, middle, and upper-tiered customers based on pricing.
8. Discover newer Markets
You are already catering to the education industry and the competition there is tough why not try the scope in the healthcare industry or e-commerce. You need to be explorative to grab the best opportunities and make the best profit out of them. You can also diversify and start selling into more markets. This will help you make a diverse customer base and at the same time lowers your risk. Some questions you need to ask yourself before you diversify:
Do you have enough resources to cater to a new market segment?
Are there market segments that have the same demand for security as the markets you are already catering to?
Should you start selling online or expand your operations and offerings overseas?
Before you venture to newer markets, make sure you customize your products and services in a way that you cater to the demands.
9. Upgrade business with Partnerships and expansion
Many businesses struggle to maintain their position on their own. A partnership is a great option for businesses to explore newer entities and expand their earnings, the key to become the Best Security Services Company. Partnering with a firm to enter a new market or demographic would distribute the load between the two entities. When you plan on partnering with another Security Guard Company, do not do it for the sake of the opportunity instead look at what your company needs to flourish.
You can also take over smaller security firms and utilize their resources in a better way. Whatever you do, a lot of research is the first step towards expanding through partnerships.
10. Utilize Business Management Strategies
If you are not able to look after your employees, they will never perform for your sake. A crucial part of your Business Management practice is Employee Management and you must attend to it. If you are not as good as a team, you will never be able to offer good products. Boost productivity by enhancing employee engagement and focus on Security Guard Management, set SOPs for business operations, maintain organizational hierarchy and you will have an internally strong Security Guard Company that can conquer any competition.
Bonus: Think from the Customer’s Perspective!
To succeed, you must first know what your customer wants. Offering security guard services at a flexible price model is not what customers are looking for. If it was so, hadn’t they hired their employee force?
What the customer wants is ‘peace of mind’. Security is not the core of their business and they have little or no resources to dedicate to the security operations. Hence, when they hire you, they want you to offer a one-stop solution for their security requirements. They want you to take charge and offer them reports of zero incidents, full security guard attendance, and reduced risks to their business. If you can offer ‘peace of mind’ to the customer, nothing can stop you from being the leader.
We genuinely wish for you to be a leading Security Guard Company and grow as you deserve. We hope this Guide to be the best security company will come in handy to you and you will soon leapfrog the competition to emerge as the best Security Guard Services Company.