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The most important component in any new product launch is embodied in the product itself and its correctness for the marketplace. NAPCO is introducing a new product that can help build up your residential account base. The product itself is as easy to use as locking the door; and the marketplace, NAPCO feels, is ready.
A pioneer in the intrusion alarm market, the company's focus is on developing security technology. "Known for intensive R&D investment and innovative design, once NAPCO brings a product to market for launch, if our strategy was right, the product will appeal to our customers and prospective customers, particularly those seeking new opportunities to stand out from their competition and/or do business smarter and faster," states NAPCO senior vice president sales & marketing, Jorge Hevia.
STRATEGIC PLANNING
The answers to questions that NAPCO asks in advance are the same ones dealers can use when determining the success of introducing a product to new customers. Does it solve current customer problems or address concerns important in its market? Does it do so in a unique, advantageous or superior manner? How does it compare to substitutes, if any. This kind of marketing and planning strategy helps ensure that a new product should be well received. The product's extensive beta test field program has also foreshadowed product success in the market.
"Before our products are developed we know how we want them positioned since we know these answers," Hevia comments. "After that, we use print and electronic media in trade publications, web-based programs plus exposure at trade shows and seminars, to create product awareness and interest."
The NAPCO field sales team, distributor sales reps and trainers take it from there with personal selling methods, one-on-one and in small groups nationwide. This month they will be busy with the launch of the Freedom 64 debuting on October 24,2006, at ISC East in New York City, NY.
"F64's market debut will be something like no other in the industry, as it marries the full-featured mid-/large-size NAPCO custom-alpha systems that we are known for and new, patented intelligent exit/entry technology," says Hevia.
The new technology makes it false alarm proof and automatic for consumers to use daily and routinely, he adds "It directly addresses dealers' high cost of attrition by maximizing account renewals/retention," Hevia asserts.
SEPARATE FROM THE COMPETITION
You have been given this advice before but it bears repeating. Dealers need to keep an eye out for something (or some products) to separate yourselves from the competition. In addition, enhancing customer/account satisfaction can get and keep you more accounts. Those are among the best reasons to change products or consider a change or new product offering.
"Change is never easy; that's why we human beings resist it," Hevia admits. "So, you do your best to make sure any change is a worthwhile one. Dealers are smart business people and entrepreneurial by nature. The best, most successful businesses are those which anticipate change and adapt to it swiftly and smoothly."
Keeping abreast of new technologies and paying close attention to what makes your customers happy is what NAPCO's patented Freedom 64 has been designed to address. The company used proprietary consumer research combining input from alarm users and non-alarm users.
"F64 has intelligent exit/entry, which is a fancy way of saying it makes arming and disarming the talking custom-alpha alarm system literally as easy as locking and unlocking a door—no codes, no stress but all the wow-factor and zones (64 zones/4 partitions/400 events/Gemini wireless) a dealer could want. It's 100% impossible to have a false alarm at exit/entry—the times most falses occur in traditional systems," says Hevia.
"F64's well worth changing to, and I don't say that lightly," he continues. "Simply put, nobody wants the embarrassment, the fear or stress of setting off a false alarm, much less getting fined for doing so. (And, even from an industry standpoint, alarm dealers can't assume that municipality alarm-dispatches are any more a given or certainty than yesterday's telco lines in every home were before VoIP internet phones hit!)."
Also, industry studies show that attrition is too costly. "I think I read it costs $30 to replace a single dollar of lost recurring monthly revenue. And, one of the top four factors cited in account attrition is that accounts were no longer using their alarms (double the cancellations from one year ago)," warns Hevia.
For an introductory period, NAPCO is offering dealers a FREE F64, so they can see the customer appeal and appreciation first-hand. As part of this national introductory trial program, NAPCO goes out on each install with the dealer to ensure they run smoothly. "We've put our money where our mouth is, since we're just that confident in this great new product's (F64's ) market appeal and power to really change the industry", states Hevia.
For more information, Jorge Hevia can be reached via e-mail at heviaj@napcosecurity.com or by calling 800-645-9445, ext 158.