If you wanted to drive to a destination you’ve never been to before, you’d follow a map. That same logic applies to business.
If you want to grow, you can’t just rely on assumptions. You need guidance. You need to know you’re heading in the right direction.
That’s where field service metrics come in.
In this article, we’ll touch on why tracking metrics is important. Then, we’ll share 11 critical field service metrics you need to start monitoring.
We’ll look at the power of field service management software and how it gives you access to growth-enabling data.
To wrap up, we’ve got a few quick tips to maximize your performance. Let’s get right into it.
The Importance of Tracking Field Service Metrics
Field service metrics are data points that paint a picture of how well you’re traveling.
Enterprise-level home service providers need to keep track of this data. Why? Because it enables data-driven decision-making. According to IBM:
“By collecting, analyzing and interpreting data, organizations can make better decisions that more closely align with business goals and objectives.”
Here are some of the benefits of using metrics to make smarter choices:
- You can allocate resources to areas that will have the biggest impact on your success.
- You can improve the different facets of your customer service. This will lift customer satisfaction and loyalty.
- You can make changes to your workflows to achieve greater efficiency. This means you can serve more customers per day.
- You can see the results of your change initiatives. You know what works and what doesn’t.
11 Key Field Service Metrics to Track to Boost Performance
Track these 11 metrics and watch your performance climb to all-new heights.
Operational Efficiency Metrics
Operational efficiency is all about getting more done in less time. Track these metrics to make meaningful improvements to your workflows.
Keep an eye on:
- First-time fix rate (FTFR). This measures the percentage of calls resolved on the first visit. There’s no need for follow-ups. The higher the percentage, the better.
- Average job completion time. This measures how long it takes to complete a service job. Include travel time, too. You want to keep this figure as low as possible.
- Response time. This is the time between getting a request from a customer and dispatching a technician. Faster response times improve the customer experience.
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Employee Performance Metrics
These data points tell you how well your employees are performing. If the numbers suggest improvements could be made, you might invest in more training.
Keep an eye on:
- Jobs completed per day. This tells you how many jobs each technician does in a workday. Use this to identify high performers. Provide extra support to those with low productivity.
Customer Retention Metrics
You retain a customer when they choose you again. It’s like loyalty. The next time they need your service, they go with you—no questions asked.
If your retention metrics are low, you might need to change your pricing or add more value to your services. You could also work on the customer experience. You might implement customer engagement initiatives like email marketing to stay top-of-mind.
Keep an eye on:
- Repeat customer rate. This is the percentage of customers who come back to you within a set time period. A higher rate shows customer loyalty.
- Customer churn rate. This is the rate of customers who stop using your services. You want this to be low.
Customer Experience Metrics
Did you know there’s a correlation between customer experience and financial growth? McKinsey & Company states:
“Our research shows that strategies focused on delighting customers allow companies to earn greater value from their current customer base—which results in concrete financial outcomes.”
Keep an eye on:
- Net promoter score (NPS). This simple metric measures how likely your customers are to recommend you to someone else. You collect this data via surveys.
- Customer satisfaction score (CSAT). This is a measure of customer satisfaction. It’s also based on survey responses.
Sales Performance Metrics
Your company’s bottom line is dependent on making sales.
Tracking sales performance metrics enables you to refine your approach. You can introduce new training or update your strategies to win more jobs.
Keep an eye on:
- Conversion rate. This is the number of leads that you convert into booked jobs. A low conversion rate suggests your customers perceive competing services as offering more value.
- Average revenue per job. This measures the average amount of money generated from each completed job. Improve this by upselling.
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Employee Satisfaction Metrics
An engaged workforce is good for everyone. Your employees perform better, which earns you more profit. It keeps your customers happier, too.
Keep an eye on:
- Employee turnover rate. This is the percentage of employees that quit over a set period. A higher turnover rate signifies an issue with the employee experience. Consider using exit interviews to find out more.
Using Field Service Management Software for Optimized Performance
Field service management software is an all-in-one solution. It helps you stay on top of all the moving parts of your organization.
It also tracks data—a lot of it. It then takes that data and converts it into meaningful metrics you can use to optimize your results.
Here are some tips to get the most out of field service management software and its data-tracking capabilities:
- Use technology to lift your FTFR, average job completion time, and average response rate. With software, you can dispatch the right tech to the right job.
- Leverage software tools to boost field service performance. Give techs anytime, anywhere access to client details. They can then deliver a truly personalized service.
- Use optimized routing to get techs to jobs faster. This boosts productivity by increasing the number of jobs completed per day.
- Delight customers with a five-star service. Use communication tools to keep them in the loop. This can increase customer retention and decrease customer churn.
- Implement software gradually. Allow ample time for training. Introduce a feedback mechanism so team members’ voices are heard throughout the process.
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Maximizing Performance Through Field Service Metrics
Sometimes, numbers speak louder than words. Use these tips to level up your performance:
- Send out customer surveys. These help you measure NPS and CSAT.
- Consider field service management software. It can be a game-changer. Research options available on the market and schedule a free demo or two.
- Make an action plan. Did data shine a spotlight on a problem in your operations? Map out how you’re going to fix it.