Security is an extremely competitive field. When you submit proposals for new jobs, you’re often competing against a large group of other companies who are ready to do whatever it takes to win out.
You might think you need to cut your rates and slash overhead in order to remain competitive. Thankfully, this isn’t always the case. Sometimes, reviewing and updating your marketing efforts can help you find more prospects and win more bids.
Let’s take a look at some low-cost ways to improve your marketing efforts:
1. Differentiate Your Business
In the security industry, it’s critical to stand out. Use strong customer value propositions (CVPs) to set yourself apart from the competition. Without strong CVPs, price becomes the only real way for potential clients to tell your company apart from the rest of the pack.
Great CVPs speak to a prospect’s needs and understand the language they use. Many security professionals will market in a way that appeals to their own sensibilities, rather than those of their target clients. On the other hand, smart marketers will:
- Explain how their service solves a specific problem
- Present quantifiable results of their services
- Offer specific reasons why their company is better than competitors
- Directly address specific pain points
For example, rather than saying “We have 50 years of combined security and law enforcement experience,” speak with more specificity to your clients wants and needs. Try “We’ve been fulfilling the security needs of homeowners’ associations for over two decades.”
2. Review Your Pricing Strategy
Keeping your prices low is one surefire way to win more bids. However, that’s easier said than done. When your prices are too low, you put yourself in an unsustainable position. Set your prices too high and you’ll quickly get undercut by competitors. What to do?
One approach is to review your desired profit margin and overhead costs to determine the best rate you can offer clients. We offer free calculators to help you crunch the numbers on our website.
You should also remember that companies who offer better services are able to charge more. Learning how to justify why your company may cost more than competitors is an important skill.
Coming to the table with strong CVPs will help you justify a higher rate. For example, guard management software that makes you more accountable than the next company makes you worth more than them, too. Little things like clean uniforms and better communication channels will also add value to your company. Good reviews and testimonials can go a long way toward proving your value, too.