The latest FBI data shows that while violent crime rates have dropped nationwide, property crime has increased (after steadily decreasing for several years).
With property crimes rising, many businesses are utilizing additional measures, such as security systems, to protect their buildings and wares. Have you been considering taking this step?
Before you invest in surveillance systems for your business, you likely want to know what kind of return you’ll be able to see from that investment. This blog post explains the advantages of security systems and the unique returns they can offer your business.
Challenges in Measuring ROI for Security Systems
Quantifying the ROI of preventive measures, such as installing a security system, can be difficult. After all, success on the security front generally means that nothing happens, and it’s hard to calculate returns when nothing has changed.
You might not be able to calculate the ROI of a security system the same way you would another investment in your business, but that doesn’t mean it’s not beneficial or worth the money you spend upfront.
Recent Studies and Data on Security System Effectiveness
Plenty of research shows the effectiveness of security system installation for businesses, especially retail stores. The following are some relevant statistics and examples to keep in mind when deciding whether or not it’s worthwhile to invest in a surveillance system:
- According to the National Retail Federation’s 2023 National Retail Security Survey (NRSS), 46 percent of retailers have increased the use of third-party security, and 54 percent are increasing budgets for technology and software security solutions.
- Read Hayes, Director of the Loss Prevention Research Council, noted in response to the NRSS survey that retailers are relying on various surveillance tools, including mobile surveillance units, radio-frequency identification technology, body-worn cameras, and computer vision analytics.
- A one-year study in Opelika, Alabama, showed that using mobile surveillance units decreased shoplifting by 40 percent. The study also revealed a 31 percent decrease in disorderly conduct, a 15 percent decrease in property crime, and a 10 percent reduction in the city’s overall crime rate.
- A similar study in Paducah, Kentucky, revealed a 60 percent reduction in loss prevention and parking lot incidents.
Broader Impact Beyond Crime Reduction
Of course, decreasing crime is a major measure of success for security systems. There are other benefits of a mobile security investment beyond just crime reduction, though.
Having cameras and other security equipment, such as motion-activated lights, on-site at your company can create a greater sense of safety for passersby and members of the community.
When you prioritize your business’s security and take it into your own hands by installing a security system, you also allow for more strategic resource allocation by local law enforcement. You lighten their load without having to worry about leaving your business vulnerable to theft, vandalism, and other crimes.
Decision-Making Based on Data
Business owners like you, naturally, want to make decisions based on data. As you saw earlier in this blog post, there is plenty of data showing the benefits of surveillance systems, and numerous businesses, particularly retailers, are investing in enhanced security solutions to help them protect their products, employees, and customers.
Keep in mind, too, that you can also use video security systems to gather valuable data that can help you strengthen your business’s overall security plan.
For example, say you notice vulnerabilities when reviewing security footage after an incident at your business. In that case, you can then make adjustments to prevent the same problem from happening again.
The Long-Term Value of Security Systems
Not all benefits of security systems can be quantified. That doesn’t make them any less meaningful, though.
The following are some additional points to keep in mind when deciding to purchase a security solution for your business.
No News Is Good News
The presence of a security system can deter all kinds of crime, from theft and vandalism to more serious crimes like assault.
When you invest in a video surveillance system for your business, you can extend the amount of time that goes by between incidents, allowing your business to run more smoothly and helping you to focus on what you do best.
More Security = More Peace of Mind
You can’t put a price on the peace of mind that a security system provides, either. You’ve worked hard to build your business. Don’t you want to rest easy knowing it’s being protected at all times, whether you’re physically present or not?
Avoid the Cost of Crime
If you need more convincing about the ROI of investing in mobile security systems, stop and think about how much a crime could cost your business.
How much would you have to spend to recover after your business was burglarized, for example?
Now, compare that number to the price of a security system. In almost all cases, it’s going to be a no-brainer to invest in the security system and save your company from the losses associated with being the victim of a crime.
More Security = A Better Reputation
All it takes is one incident to put your business in financial trouble. One incident could also jeopardize your company’s reputation.
If you’ve been a victim of a crime, depending on the nature of it, people might be hesitant to revisit your business and invest in your products or services. They might question their safety at your establishment if they know you don’t have any kind of security system in place.
More Security = Lower Insurance Premiums
In some cases, installing a security system can actually lower your insurance premiums.
If your insurance provider — who will likely have to pay if you fall victim to a crime — knows that you’ve invested in surveillance equipment for your business, they may reduce your premiums as a reward for proactively improving your security and protecting your business.
Increase Your ROI by Choosing the Right System
It’s important to note that part of maximizing the ROI of your security system is to choose the right system for the job. When looking for a mobile security solution that can help you safeguard your business, keep these factors in mind:
- Additional security features: The best security system will include more than just cameras. It will include other security features like lights, two-way loudspeakers, and a mobile app that you can use to monitor the business at any time and anywhere.
- Price: Get quotes from a few different security system providers (most will give you a quote for free) to decide which one provides the best equipment and features for the fairest price.
- Contract details: Always review the contract to avoid getting into anything you’re not prepared for. Be wary of long-term contracts and sneaky fees hidden in the fine print.
- Testimonials: Read customer testimonials or case studies to ensure others are satisfied with the service the security system provider offers.
Conclusion
Are you convinced of the ROI of investing in a mobile security system? Do you want to ensure you get the most bang for your buck?
If so, Mobile Video Guard’s security systems are the perfect solution. We offer reliable, high-quality cameras with no hidden fees, no long-term contracts, and no surprise charges.
Want to learn more about our surveillance options? Request a quote today.
