Five Ways to Boost Recurring Monthly Revenue as an Integrator
For several years, experts have recommended that low-voltage installers and dealers build a business model that includes recurring monthly revenue (RMR). Once almost exclusive to security and fire companies, RMR is now seen as a viable opportunity for AV, access control, video surveillance and other markets. Also, with the increase of cloud-based technologies, integrators no longer just sell and install systems, they can provide services related to their installations.
Because RMR is a predictable revenue stream, it can add a key layer of measurable growth to your business. RMR also allows you to develop a stronger relationship with your customer through the regularly scheduled services you can provide, and it can help increase repeat business for other new installations with those customers. Whether you already make recurring revenue from service agreements or monthly monitoring fees, you can improve your success with this business model by considering a few different options.