When it comes to rating different alarm companies, it is often hard to decide which factor is most important. You can rate a central station monitoring company on cost, response time, technology, customer service or on a variety of other factors. Perhaps the best way to tell a good company is to look at their attrition rate.
The attrition rate is the speed at which clients leave an alarm monitoring company. It’s a pretty simple concept-if a company is losing its clients quickly, it has some problems. In fact, the rate is the result of all of the other factors that a company can be evaluated on. A poor attrition rate may be caused by high cost, poor response time, old technology or poor customer service. By contrast, a better attrition rate can be a sign that a central station is strong in those areas, keeping the customer satisfied with their service.
One problem with attrition that can be overlooked is the cost and the focus it takes away from the company going forward. When customers are lost, the company has to spend time and money on advertising to get new customers to replace the ones they’ve lost. This is time and money that could be spent on new equipment or training in order to serve their current customers better.
What is a good attrition rate? Attrition rates in general are not good for alarm companies, with the average being around 12%. Wall Street analysts listed one of the largest alarm companies with a rate of over 13%. These rates have gone up over the years, perhaps as more options have become available. With all of this in mind, a rate of less than 1% is good, but the lower, the better.
Dynamark Monitoring knows how to help alarm companies keep customers happy. Cutting edge technology, top notch customer service, fast response times and CSAA Five Diamond Certification all combine to exceed client expectations. Dynamark’s world class service protects clients from harm and protects alarm companies from attrition.
Some alarm companies lure people in with a great rate, and that rate may keep the client happy for a year or two, but the problem is that eventually the client sees that the service and support isn’t good enough and moves on to another company. When you have Dynamark as your central monitoring station, this does not happen. They always deliver top-notch service for the price, and that is something that makes their customers want to stay with them long term.