Feel like you have a limited view into your business operations?
Well, you’re not alone! Most home service businesses struggle to get the essential metrics they need to track performance… ultimately hindering their path to success and growth.
What an awful position to be in! Working off of terrible data makes it difficult to make the right decisions that will drive revenue growth. As a wise man once said: garbage in, garbage out!
Luckily, today's technology can help tremendously. Integrated home services management platforms like ServiceTitan offer actionable, real-time data that has been proven to boost revenue for service companies large and small.
Half of the secret to achieving big results with data is implementing a solution that automatically identifies and targets moneymaking opportunities that would otherwise go unnoticed and unaddressed. The other half is using the data to take the right steps to grow your business.
Here are the three most successful tactics to growing revenue with better data:
1. Offer productive training to staff about missed opportunities
In order to maximize sales, you need a full picture of your missed opportunities, including why you weren’t able to book these calls into appointments. ServiceTitan’s home services management dashboard displays an ongoing list of your unsold jobs and unbooked calls so you can zero in on missed opportunities in real-time.
Easily click into any cancelled or unsold job to find out exactly what happened. All phone calls (including call recordings), text messages, emails, and events are captured in the job’s history to give you complete accountability for every action performed by your CSRs and technicians.
Use this data to retrain your CSRs and technicians to book more calls and close more sales. Replace often-dreaded employee reviews with ongoing feedback conversations in which you discuss how to approach and handle certain scenarios (as they come up) to improve performance. This type of timely, specific feedback is an extremely critical component to helping employees achieve optimal results and is particularly productive for everyone. Says Tammy Ferris, owner of Gene Love Plumbing, Heating Air & Electrical in West Columbia, South Carolina: "The Dashboard provides for better training of our techs and makes us more efficient so that we can focus on providing better client service. Ultimately, it’s a win for the clients."
2. Act on key business events
If you or key managers on your team had access to critical business events as they happened, you’d be able to proactively turn negative situations around. ServiceTitan allows you to set up alerts so that specific personnel can be notified immediately of key occurrences in a job’s lifecycle. David Boduch, co-owner of AJ Danboise Plumbing, Heating, Cooling and Electrical in Farmington Hills, Michigan captures the value well, “The real-time information on sales and conversion rates makes you more responsive to situations that are going on day to day.”
There are different types of alerts you can set up. You can choose to be notified every time a job is booked, cancelled, dispatched, abandoned, completed, unbooked, or unsold. You can also choose to receive an alert when a sold estimate is left or when a specific custom form is completed. Besides the alert type, you’ll be able to specify the specific business unit, campaign, job type, priority, tag, and delivery method (email or SMS) for which one or multiple recipients should receive the alert for.
For example, you want to minimize the amount of cancelled jobs among your VIP customers. With ServiceTitan, you can easily create an alert that emails your service manager whenever a job has been cancelled by a customer who is tagged “VIP.” This way, the appropriate person is made aware of the event in a timely manner and can jump on the case and try to save the customer—helping you to recover revenue that may have been lost otherwise.
3. Stop wasting money on ineffective ads
Solely getting numbers on how many calls you receive for your advertising sources is not enough. To truly understand your marketing spend, you need to know how each advertising channel contributes to your bottom line in terms of sales, revenue, and cost per lead. ServiceTitan links each call to its eventual sale, which automatically shows you how much revenue you generate from each marketing campaign. You can use this data to stop wasting money on ineffective ads and double-down on your best ones.
Andy Wyatt, owner of Wyatt Works Plumbing in Chardon, Ohio, states it best: “The [ServiceTitan] Marketing ScoreCard allows us to accurately track our ad sources. Through the process of elimination we have been able to ‘cut the fat’ and lower our advertising budget to just under 4%. We have maintained a healthy 20% growth rate over the last year. Currently our top performing campaign is costing us around $45 per lead. The costlier campaigns have been eliminated.”
Meaningful knowledge is power. The most successful service companies have software in place that can automatically measure the key performance indicators necessary to help them identify revenue-generating opportunities. ServiceTitan allows you to do just that. Besides identifying these opportunities, ServiceTitan also makes it incredibly easy for your staff to take action to recover dollars from missed opportunities, train your staff to close more sales, and spend wisely on proven channels that grow your revenue.
Tired of not knowing what’s actually going on in your business? Ready to make more money by maximizing revenue-generating results? Schedule a free demo with a ServiceTitan sales executive by calling 855-899-0970 or emailing firstname.lastname@example.org.