Plenty of home services companies are highly adept at maintaining a solid status quo in terms of current business. Enabling your business to grow and evolve, however … that can be a good deal tougher.
How do you determine the best ways to grow? How do you know where you need to bolster your efforts? How do you measure the success of your business as a whole?
Do you have questions about how to use field management services to boost your company’s performance? Get in touch with 360e today.
What Does Success Mean for Your Business?
Not everyone’s scope is the same. In the spheres of HVAC, electrical contractors, home improvement companies, and other home services companies, there’s a wide breadth of what being successful means for you.
Is your business content with being the best company in a smaller area, or are you looking to expand? Do you want your business to span across multiple states, or even the entire country?
Before you go looking for your business’ metrics for success, first determine what success is for you.
Here’s How to Measure the Success of Your Home Services Company
No matter what you define success to be, all businesses can get a grip on what track they are on by keeping a close eye on the following things.
Measure the Effect of Your Current Lead Generation Efforts
Generating and converting leads is the basis of any business. What’s working for your business? Tracking what types of advertisements are generating leads, what lead development plans are working, and why clients are choosing to work with you are all vital. Knowing these metrics allows you to funnel resources into what works for your business location, and where to snip or reinvest.
Focus on Client Retention & Satisfaction
Your “regulars” are the backbone of your business and are a great measure of not only how effective your business is in terms of workmanship, but also in how happy clients are with your service as a whole. If your sales cycle is full of clients that choose you over competitors, you’re likely doing very well—even more so if the number of happy clients is steadily going up.
If your business is not doing so hot in this area, or you could use more growth, it is likely wise to focus on these metrics:
- Your quoting processes
- The average response time of your business
- Your team’s average time of repair
- How often jobs are taking multiple visits to complete
- The effectiveness of your service agreements or contracts
The Growth of Your Business
When thinking about growth most businesses focus solely on sales revenue, but there is a whole lot more to what defines the progress of your business. To get a real feel for growth you need to know:
- Overhead costs
- Profit and loss
- Client retention
- Employee effectiveness (times to complete jobs, level of training, satisfaction)
- Overall sales performance
Connect with 360e Field Management Software
Our job management software has been developed to make your job easier, more profitable, and to help you grow and evolve your business in the ways that work for you. 360e was crafted by contractors, for contractors. The entire experience our home service software provides is meant to help you tackle problems and create solutions.
Ready to get started with 360e, or want to find out more? Connect with us on the web, or call to speak with our team any time!