Essential Field Service Power Metrics to Monitor in 2020

Following the right key metrics to track your performance is essential in order to interpret your company’s data correctly. Well, how do you know the essential field service power metrics that you should monitor in 2020?

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The data your company produces contains lots of useful information that can help you increase your performance in field service business operations. Following the right key metrics to track your performance is essential in order to interpret your company’s data correctly. This way, you can identify better improvement opportunities. By using these metrics that are vital to your business, you will be able to set SMART goals and achieve those goals in the best possible way. Well, how do you know the essential field service power metrics that you should monitor in 2020?

Let’s learn this below:

Average response time

If you want to calculate how fast your technicians respond to your customers, you should monitor the average response time metric. This metric is related to the count of tickets closed on average. So, you better pay attention to this metric if you want better customer satisfaction rates and more closed tickets. How quickly you reach your customers is directly related to how far away you are from your customers. If your dispatchers apply route optimization while assigning jobs to techs, the average response time should decrease. If you wonder what other benefits can be assured with improving dispatch operations, we suggest you read our blog post about the effects of technology on customer satisfaction rates.

Also, it can help you to fit more jobs and revenue in your daily operations more effectively.

First-Time Fix Rate

In the field service business, some jobs may require several visits to be completed. This is not something desired for the field service companies because every additional visit to the customer’s house is a loss from the profit. The first-time fix rate can help you to understand the rate of jobs your company completes in one visit.

If you want to improve this rate you need to make sure that you are assigning technicians to jobs considering their capabilities. In other words, this metric can be improved with good dispatch work. If you want to learn more about other benefits of improving dispatch operations you can read our blog post.

One other method to improve this metric is to make sure that your technicians are equipped with the right tools. Here is a list of tools that your plumbing technicians should be equipped with.

Yelp Listing

When you plan to get customers from Yelp, you must invest time in setting up an appealing business page on Yelp.

From the company’s description to the address, photos, and operation method, try to provide as much information as possible.

Get into Yelp and search for the business you own. You might find it on the listing, and if you don’t, try to add your business link there.

Along with building the Yelp listing, optimizing the listing is also crucial. Go for a simple description and make it readable to all kinds of customers. Remember that overusing the same keywords might lower your rank.

Utilizing the Workforce by Working Hours

How many hours do your technicians are actually spending working hours providing service? This metric can let you identify how many billable and productive hours your employees are spending during their shifts. This metric is crucial for field services to track the productiveness of their techs. Productive time is all about providing services to your customers and making upsells to increase revenue.

This metric will help you to find better ways to improve your tech utilization and productivity in the best possible way.

Customer Retention

For a field service business, customer satisfaction rate and customer acquisition rate are very important metrics if you want to keep your customer count increasing. Another important metric is the customer retention rate. Because, if your customers keep choosing you over your competitors, you definitely have to pay more attention to the experience this customer had with your company. Listening to your customers and improving the service you provide to them can help your company grow. The customer retention metric shows how strong is the relationship between the company and the customer.

Also, remember that most of the service sectors’ future is now being determined by their customers, because of social media. If you want to learn more about lead generation tips using Yelp, you can read our blog.

Revenue Per Lead

If you divide your sales volume by the number of leads, you will find revenue per lead score. By monitoring this metric you can understand if your lead generation strategies are working properly. Because if you are not closing your deals with your leads, then probably you are not choosing the right leads for your company. If this score is not increasing, then your products and services might need to be improved.

Final thoughts

Knowing essential field service power metrics is important. Because choosing the wrong ones will lead you to miss the opportunities or issues that can affect your field service company. Consequently, you won’t be able to make well-informed and accurate decisions for your business operations.

Therefore, ensure to monitor the above-mentioned metrics to improve your business operations more effectively.

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