It can be difficult for field service organizations to balance their immediate service requirements with their long-term strategy for future growth. It literally is a balance – think too far ahead, your customer experience in the present suffers, while if you’re not thinking ahead, your growth could stall, and you may find yourself lacking customers to service in an ever-changing industry.
So, to maintain the levels of customer service you have built, while also growing your business through new revenue streams, many organizations are taking an approach called the Growth Horizons Framework, which encourages field service organizations to focus primarily on their current customer experience, while also keeping an eye on the future for potential new revenue streams. It’s the 70-20-10 approach, and combined with a field service software, will keep your customers satisfied and help open new avenues of revenue.
70 Percent – Expanding on the core
It should be obvious, but you must keep the customers that keep coming back happy and expand on the services you offer them. That’s why it’s said that 70 percent of your time needs to be spent on the business you’re good at and ensure that your core customers are satisfied, and the service being provided to them is the best quality service you can offer.
If you add a field service software to your organization, that 70 percent becomes streamlined with plenty of automation happening for preventative maintenance contracts and fast invoices produced through integrations with accounting systems such as NetSuite, Microsoft GP, QuickBooks and Intacct. It also ensures that your dispatchers have the tools needed to quickly dispatch technicians to a job site, powered with a mobile field service app to remove the manual administrative work from field service.
The core idea here is that most of your time has to be spent working with the customers you have today and not the ones you might have tomorrow, because their needs have to be met quickly and efficiently. And that is a perfect reason to adopt a field service management software to help keep today’s customers happy and ensure nothing is ever missed, while you look towards the future for new potential customers.
20 Percent – Expanding the core
While most of your time is being spent on customers equipment and parts that are vital to their business, 20 percent of your time should be focused on expanding the services you provide to your core customers. That could include setting them up on a recurring maintenance schedule if they aren’t already on one or using quoting functionality in a field service software to upsell them new technology, including new HVAC units, internet and server systems, or new equipment for their field work.
The great part about this percent of your time is that it is still spent focused on your core customers who make up your business, and it finds new ways to make their business more efficient. One of the newest services is offering predictive maintenance with Internet of Things (IoT) technology. This sensor technology will allow you to monitor the equipment and parts your customers value the most and offer service calls when they start to fail, avoiding any emergency shutdowns that could lead to costly downtimes.
10 Percent – Transformational growth
With your core customers satisfied, that leaves some time to look towards the future and how you want to transform your service delivery, add new products or go into new industries which are foreign to the current business. It can be costly to go into new industries or offer new services, but subcontractors and tools built into field service software to manage their activities, field service organizations can move into new industries or take on jobs they don’t normally do and see if there is value to the business.
With subcontractor management tools, field service organizations can find someone who can fix equipment their technicians don’t have the ability to fix or move in to a new area geographically that they haven’t been in before, without hiring on a full-time technician, until they know it is a secure source of revenue. Work orders for these jobs are produced through the field service software and pushed to the mobile field service app just like they would for any in-house technician, making it easy for the service department to dispatch subcontractors, keep standards high and still get the information back quickly for billing. All while growing the business into a new stream of revenue.
Use Field Service Software to Maintain and Grow Your Business
Field service software offers tools to just maintain the customers you currently have, which should be the primary focus of your organization, but also help you grow your business into new industries. Your organization needs to be as efficient and reliable as possible before they can consider growing, and with a field service software and automation, that’s an achievable goal so that you can start to take time away from maintaining your core customers, and spend more time growing into new industries or services.