How This 50-Year-Old Security Startup Stays Current In A Competitive Market

Photo by Nick Loggie on Unsplash

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Surviving is the first thing every business owner focuses on in a tight economy. Competition is always there, and in some cases, industry competition is so fierce that companies have to constantly pivot to attract attention and edge out competitors. According to Fundera, 70% of businesses will fail by their 10th year. 

Existing businesses can’t stop new entrants from getting a share of the market, and with the 10-year failure point as high as it is, businesses must determine a strategy that addresses existing competition as well as potential new competition. And that is often easier said than done. How does an existing and established business maintain their footing in the face of new competition to break past the decade point? 

One locally-owned, independent alarm company in the San Francisco Bay Area, AEC Alarms, has been in business for almost 50 years, in spite of the numerous competitors that have joined the industry over the last few decades. While they started with basic safety alarm systems for homeowners, as technology has advanced, so has the company’s offerings, and it’s this constant evolution that keeps their business relevant and successful even a half-century later. 

Security systems haven’t just been updated over the last few decades; they’ve completely transformed — going from locks and bells to highly technical tools like motion-sensor cameras and security systems that let you check the status of your home or property from an app. Staying on top of the industry trends meant more than a rebrand. It meant moving from something mechanical to something digital. And this dedication to staying current has paid off. 

They boast an A+ rating from the BBB (Better Business Bureau) and an impressive client list — Goodwill, LandRover, Popeyes, and the San Francisco 49’ers are a few of their patrons. And the reason isn’t just staying current, though that’s a big part of it. Where AEC Alarms is really able to stand apart from their competitors is through their tenure. They are an “old” company compared to many in the industry — but with products as “new” and innovative as the startups. It’s this juxtaposition that really gives them the edge. 

While new companies may be innovative and fresh, they are at a disadvantage when it comes to credibility and relationship building. AEC Alarms has cultivated credibility in part through their sheer staying power. And they attribute much of that staying power to their long-term relationships with clients — initially homeowners, but in the recent decades branching into commercial properties as well. The bonds they maintain are what keep them at the forefront of their field. 

Part of the relationship building is focused on education. Customers want to feel empowered to make informed decisions about their safety and security. Understanding that desire helped direct AEC Alarm’s focus on education over sales. They put a lot of focus on letting prospective customers know what products are available, how they work, and where technology may take us next.

Competition is everywhere, and businesses come and go, but providing excellent and memorable customer service is a great way to build loyalty among your customers and differentiate yourself from the competition. It's essential to focus your efforts on providing solutions to customers' issues, not just trying to sell them your products or services. 

Regardless of where a business is at in its lifecycle — whether the startup phase, year nine of that decade drop-off point, or well into decade number 4 — finding that balance between credibility and innovation is key. Staying ahead of your competition begins with the people who already know and trust your brand, and it continues through constant innovation and reinvention.

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.