With the spread of COVID-19 across the country, life as we know it in many ways has shifted. Concerns around COVID-19 have involved much more than just health during Americans’ time at home. As marketers for home security companies know, schedules and routines have shifted, and many consumers have begun to focus on their home and personal security. From ensuring package delivery or monitoring loved ones when we can’t be there, a focus on home security is on the rise. In fact, a well-known home security company saw an 86% uptick in sales week over week as Americans quarantined.
Keep reading and download our infographic for our latest consumer insights and case studies to help inform and update your marketing strategy.
As The Home Security Industry Grows, Competition Heats Up
The home security industry is growing at a rate of 20% as smart homes and smart technology evolve and get smarter. While security system adoption held steady at 26-27% from 2016-2018, in 2019 a 5% increase moved the arrow significantly to 32-33%. Furthermore, the professionally monitored industry experienced significant gains rising from a 24% adoption rate in 2018 to 29% in 2019.
Digital access to home automation and control has been a trend and is expected to continue to be a hotbed for product innovation over the five years to 2024. As a result, major companies in the Security Alarm Services industry can expect to contend with increasing competition in the future.
Expand Your Reach to The Right Audience
As competition is increasing in the home security industry, reaching the right audience is paramount to a successful marketing strategy. It has been found that homeowners are 88% more likely than renters to own a home security system. With between 2.3 and 2.6 million robberies every year in the U.S. and only 17% of U.S. residences having a working home security system, you can see the need to not only get your message out there, but reaching the right person is critical to success. 65% of residents in Mspark’s coverage area own their own home, and 56% of rural homeowners worry about crime. The home burglary rate is 13% higher in Mspark’s coverage areas, which means that their worries are not unwarranted.
Drive Results with Direct Mail
Direct mail can allow you to reach the right person with the right messaging at the right time. In fact, 73% of home security or alarm system customers responded to an ad or coupon in their mail box in the last 12 months!
Adding direct mail to your media mix can increase your advertising impact and give you a leg up on competitors. It increases lift: Advertisers achieve 39% lift in consumer awareness when print is integrated with digital campaigns vs. single-media campaigns. And they get 30% lift in response when print is paired with digital media.
Along with proven response, Mspark’s targeting capabilities will allow you to target based on many relevant factors, bringing you greater ROI for your advertising campaigns. Our targeted mass media solutions reach over 116 million households through direct mail, and 82% of our audience opens and reads their mail at the first opportunity.
We hope these stats were insightful and inspire you to develop a well-informed marketing strategy that drives success. For more insights and trends, download our infographic for home security marketers.
Sources: Waff, Park Associates, Consumer Affairs, IBIS World, Ad Mall