Business Analytics

March 28, 2024

How to Calculate & Use the Top 3 Field Service Sales KPIs to Drive Sales

field management service software

To get straight to the point – when you combine executive analytics software with field service management software like ServiceTitan, the business intelligence (BI) you get as a result doesn’t just transform your field services company’s financials, it can also be instrumental in sales. It’s not always about crunching numbers; it’s about strategically leveraging your data insights to drive profits and redefine how to track sales KPIs. Let’s get into the key sales questions and KPIs field service companies need to ask themselves and how BI software has been a game-changer for our field services clients.

1. Are Your Sales Technicians Closing Enough Deals?

In the home and commercial services industry, your field technicians are your sales team, which makes them the driving force of your business. So, what happens if your sales are not where they should be and you’re having trouble figuring out why? Maybe there are specific business units or estimate types that are dropping the close percentage. Are you offering too many options or not enough? Maybe there’s a correlation between your technician’s closing rate and the business units they’re issuing estimates for.

Whatever the issue, how would you know without the right data? To be blunt, you won’t. If this is impacting service delivery and overall profitability, you don’t have a lot of time to waste. Time and resources spent pulling the data from ServiceTitan and putting it into a format where you can do a thorough and accurate analysis of the entire situation could be used elsewhere if you had this information quickly. Executive analytics software, like Domo, Power BI, Tableau, or Qlik, provides these types of insights immediately so you can act quickly.

2. Are Your Technicians Upselling At a Desired Rate?

To remain ahead in this cutthroat industry, adopting BI, just like adopting artificial intelligence (AI), becomes necessary. It’s been found that AI has helped increase field service technicians’ productivity by 30% – 40% and BI can have a similar effect. We’ve had clients discover that one sales tech is great at closing HVAC deals and someone else is great at plumbing, but they’re not great when flipped. With in-depth visibility, they were able to quickly make changes and raise their close ratio to an acceptable or above-average threshold. Armed with the right data going forward, they could see similar trends when they started and make adjustments earlier.

Another example, is if your technician is putting duct tape on the problem to keep it going, or are they offering a new system and encouraging a new installation? For example, when looking at specific job types where the heater or HVAC is past a certain age, you would expect that a certain percentage of those calls lead to a technician selling a new unit. If it’s not, then that’s something to address with the technician(s) to increase revenue. Some smaller companies can’t track this data and pulling the insights out of field service management software is awkward and complex.

Leveraging our strong API-based ServiceTitan connector to business intelligence software has helped a lot of our field service clients. It can let managers see if the technician’s sales rate is where it should be, and if it’s not, they can focus more on training their technicians to ask the right questions. When there is a 60-70% chance of selling to an existing customer, this is one simple way to significantly increase your market share and revenue.

3. Is Your Daily Sold Revenue Large Enough?

Executive analytics software makes analyzing the daily sold revenue easier too. This metric involves examining both bookings and completed revenue, keeping a close eye on the sales process. It’s a necessity that a field services business books enough jobs so their completed revenue is where it needs to be. If it’s not, maybe the business needs to offer discounts or send out more technicians. Maybe more advertising is the winning ticket. Without the right data, your best guess would just be that.

BI software integrated with field service management software empowers businesses and provides them with actionable insights that monitor performance. Not much can be done if a company has a bad week of completed revenue because the technicians only have so much time and that time can’t be resold later if it didn’t earn revenue this week. However, if a company has a particularly challenging sales week, BI software’s real-time insights provide the opportunity to turn the situation around fast. Ideally, by filling the technician’s time and closing more sales before that time passes, the company can break even the following week. You can see how having this information in real-time is crucial to hitting daily sold revenue targets.

Adopting executive analytics software alongside your field service management software is not just a strategic move; it’s transformational for field services businesses aiming to drive sales. The power of real-time insightful data lets you make informed decisions, optimize resource allocation, and ensure you hit your KPI targets and address key challenges – ultimately boosting profitability. The great thing about analytics tools is that it makes all of this very easy while you’re doing it too. If you’re wondering how a BI solution in your home and commercial services business would perform, we’re happy to show you a BI demo or please simply reach out to one of our analytic experts for more information.

Business insights and resources

field management service software

How to Calculate & Use the Top 3 Field Service Sales KPIs to Drive Sales

ERP partner

BT Partners Kicks the Year Off with Multiple Top Partner Awards

senior living software

5 Ways to Solve the Integration Challenges Senior Living Communities Face

Ready to optimize?