Tips on Growing your Field Service Business

PrashanthBusiness Tips, Management

When managing your field service business it is important to understand and evaluate quarter results and make recommendations for new improvements as that is what will essentially help grow your business. In order to grow your field service business, there are going to be a number of steps that you need to take to see positive results. Some include tracking key performance indicators, investing in the right FSM software, and lastly growing your customer feedback. With these tips, you will be able to provide a more seamless service that your customers will appreciate. 

In this blog post, we will share a few tips on how to grow your field service business. 

Tracking KPI

Understanding what key performance indicators are, will be a great way to understand why it is important to measure them. According to Qlik, key performance indicators are a quantifiable measure of performance over time for a specific objective. It provides targets for teams to shoot for, milestones to measure progress, and insights that help decision-makers across the organization make better decisions. With that being said, KPI will really help you evaluate what is really working and what is not. A few metrics that you should consider measuring are gross profit margin, customer acquisition cost, and response time. These metrics will allow you to understand how much money your company is making when compared to the cost of handling the business. The understanding of gross profit margin will help you recognize your company’s financial position and allow you to make more informed decisions when it comes to further operation. Customer acquisition costs will give you an exact metric of how much your company spends to get a new customer. This metric will allow you to see if your current systems are working and generating a positive return on your investment. Lastly, response time this metric helps acknowledge how your company workers are responding to customers and work orders. This can be useful to measure productivity levels in your workflow and truly allow you to make changes in resources to better suit operations needs. 

Measuring KPIs is key when looking to grow your field service business, to learn more about the other key performance indicators that are important to measure in the field service industry. Check out our latest blog post, in which we go more in-depth on a few other KPIs that are key to measure if operating a field service business. 

Investing in a Field Service Management Software

With field service management software in place, important processes like scheduling, dispatching, and asset tracking can all be done seamlessly. Doing these processes manually still gets the job done but not in a timely and efficient manner. At ServiceEcho, we are all about helping companies streamline their current processes so they can focus on more billable work. With our solution in place, all tedious administrative tasks can be done digitally in an organized manner. Our solution will go hand in hand with your current workflow and will help technicians operate more efficiently on a day-to-day basis. With Servicecho, handling all the backend tasks, your field service technicians are now able to focus on providing a better customer experience that they will remember. Providing better service will essentially help your business grow, as customers will be more engaged in continuing doing business with the company.  

Grow customer feedback 

Recording and highlighting customer feedback can go a long way in growing your business, these ratings and client testimonials can be collateral that the business can use to win customers’ trust. According to Oberlo, nine out of ten consumers read reviews before making a purchase. With that being said, collecting feedback and reviews will help encourage customers to purchase your service.  Google reviews are considered to be a powerful online review platform, so highlighting customer reviews and asking customers to leave their feedback can be a way to attract more customers. All in all, growing your customer feedback will not only increase the trust your customers have with the business but will also give you an understanding of the changes that need to be made to better suit the customer needs. Getting feedback from your customers is key to steering your business to success. 

At ServiceEco, we work hard to implement a robust solution that fits into your field service workflow. To learn more about how our solution can help you grow your business, book a demo and speak to an expert.