Vector to expand

Thursday, June 1, 2006

PITTSBURGH--Along with its announcement of new StaR Point national accounts offices in Boston, Dallas, Newport Beach, Calif., and Chicago, intended to serve its commercial business (see accompanying story, page 15), Vector Security also intends to cultivate its residential dealer base in some of those markets.
Vice president of dealer programs John Madden said, for instance, "we've been operating in Boston since 2001, but we're excited about the presence that [the new office is] going to create in that area, with this commitment from our corporate side."
He said the level of support in Boston won't change, necessarily, "but I think it has to be a selling advantage to be able to say we have an office 30 miles from here." Also, Vector will develop the market with its own internal residential sales force.
Madden said that Dallas and Chicago also presented good opportunities for growth, and the StaR Point offices could act a little like traditional residential branch offices. Dallas is a market where they're currently supporting customers, from past dealers, but haven't been actively growing until now. Chicago represents an entirely new market for their dealer program.
"Anecdotally," said Madden, "I would say that a lot of the customer base [in Chicago] has been done by strong regionals, and they tend to sell themselves off to the bigger companies like Vector.
When that happens we find there are people in their staffs who are willing to take on dealer relationships."
For a residential program based in Pittsburgh that had only traveled as far south as Kentucky and West as Ohio, this represents a significant growth program.
Vector is also looking at the southeastern United States for growth possibilities.