Security Customer Acquisition, Retention, and RMR

Residential security providers seek to create a sticky consumer relationship while increasing RMR. Providers evaluate their success by tracking key performance metrics such as subscriber acquisition rates, retention rates, attrition rates, and recurring monthly revenue. This study provides benchmarks for providers to compare their performance on key metrics to reported consumer behaviors.

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Download Table of Contents (PDF)

Research Summary

Survey Methodology

Executive Summary

Industry Insight

US Broadband Household Security System Ownership Segments

Payment Relief Offered by Professional Monitoring Service due to COVID-19

Trends in Service Provider Net Promoter Score

Technology Adoption for Security System Owners

Security System Owners & Intenders are Target Markets for Smart Home & Technology in COVID Time

Installation Method for Home Security Systems Acquired within the Past 12 Months

Combinations of Incentives to Reduce Churn from Professional Monitoring Services (TURF Analysis)

Security System Basics in US

Home Security System Ownership in US Broadband Households

Demographic Breakdown of Security System Ownership Segments

Home Security System Monitoring

Interactive Systems Among Home Security Households

Length of Ownership for Home Security System

Length of Continuous Subscription to Professional Monitoring Services

Installation Method for Home Security Systems Acquired within the Past 12 Months

Installation Method for Home Security Systems

New Professional Monitoring Service Customers: Self Installation vs. Professional Installation

Security System Purchase Triggers

Security System Purchase Triggers by Installation Method

Anticipated Changes to Systems by Owners

Consumer Attitudes Regarding COVID-19 Crisis by Security System Ownership Segments

Professionally Monitored Households Likelihood of Making Changes to Security Systems

Changes to Pro Monitored Security Systems Influenced by COVID-19 Pandemic

Security Solutions in Homes by High Likelihood of Making Changes to Security System

Security System Intention and Segments

Security System Intenders

Demographic Breakdown of Security System Intenders

Housing Profile of Security System Intenders

High Likelihood of Making Security-Related Purchases

Security System Purchase Location Preference Among Intenders by Type of System

Security System Purchase Preference

Security System Installation Preference Among Intenders

% of Households with Strong Concerns during COVID-19 by Security Segments

Recurring Monthly Revenue

High Likelihood of Switching or Subscribing to Professional Monitoring

Payment Relief Offered by Professional Monitoring Service due to COVID-19

Trends in Service Provider Net Promoter Score

Consumer Attitudes

Overall Smart Home Device Ownership by Segments (2017 -2019)

COVID-19 Conditions Affecting Consumers Spending by Security System Ownership Segments

Incentives That May Reduce Professional Monitoring Churn Rate

Likelihood of Continuing Professional Monitoring Service If Offered a Discount

Combinations of Incentives to Reduce Churn from Professional Monitoring Services (TURF Analysis)

Appendix

Defining Heads of Broadband Households

Publish Date: 4Q 2020

Slides: 57


Authored By:
Tricia Parks - Founder and CEO
Yilan Jiang - Director
Keshav Jaiswal - Consumer Insights Analyst II
Xiaofan Tan - Consumer Insights Analyst I

Published by Parks Associates
© November 2020 Parks Associates

All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.

Printed in the United States of America.

Disclaimer
Parks Associates has made every reasonable effort to ensure that all information in this report is correct. We assume no responsibility for any inadvertent errors.

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