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How body cameras can grow your private security business

April 09, 2024

How body cameras can grow your private security business

How body cameras can grow your private security business

The opportunity for private security

Higher crime rates, lower police responsiveness, and increased aggression towards public-facing workers across industries from healthcare to retail to transportation means greater demand for private security services. With more reliance on private security, expectations have also increased substantially.

Smaller firms have struggled post-pandemic, while larger private security firms have restored margins through billing increases and technology-enabled offerings. According to research by Robert H. Perry on the U.S. Contract Security Market: "[Larger companies have] restored their margins…by instituting bill rate increases to their customers and investing in higher-margin technology offerings."

Ominously, this research report comments: "Owners of the smaller companies reported...losing customers to their larger competitors who are offering an expanded menu of services."

Small- and medium-sized private security firms need to modernize their approach to technology to grow their business.

Modernize technology with body cams

Deploying a body cam solution is the first step and the foundation for modernizing your security technology.

Body cams not only deter threatening behavior and gather evidence but also give peace of mind to customers that they're protected and reassure staff that they're safe. Also, body cameras maximize the protection value of the boots-on-the-ground security guards.

Body-worn cameras as a platform for growth

Body cams can be the platform to take advantage of the opportunity created by the growing demand for private security services.

First, giving your security guards body cams – effectively digital eyes and ears – makes them more effective and efficient, which means you're providing customers with a more comprehensive service. Using body cameras justifies charging higher billing rates. Results from using body-worn cameras for the police force in Plymouth, U.K., showed reduced complaints and substantial time savings on paperwork.

"The final report found that wearing body cameras helped to reduce complaints by 14.3%, with no complaints against officers wearing cameras. Time spent on paperwork and file preparation was reduced by 22.4%, freeing up time for officers to spend an extra 50 minutes of a 9-hour shift on mobile and foot patrols."

Second, as threats and risks increase in industries such as healthcare and retail, you can expand into these new verticals enabled by modern body cam solutions.

Third, the large national and international security firms have grown aggressively by offering a broader menu of technology-enabled services. Deploying a modern body cam solution will help your firm compete effectively with them on technology and beat them with personal service and responsiveness.

Finally, body cams safeguard your business against baseless legal claims and mitigate liability with better training, clear evidence, and proof of meeting insurance policy terms and conditions.

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