7 Metrics That Matter For your Online Home Service Business

Running an online home service business is daunting. With scheduling appointments, managing agents, and processing invoices, most business owners have little to no time to analyze and optimize your operations.

That’s why we have collated the top 7 metrics – operational and customer experience metrics, that you should look at to scale your online home service business.

4 Top Operational Metrics For Your Online Home Services Businesses 

77% of CEOs said their main focus is to increase revenue through improved operational efficiency. Tracking these basic operational metrics will help you optimize operations, give you a competitive edge, improve customer experiences, and boost profitability. 

1.  Number of Jobs Completed Successfully:
   The number of completed jobs metric shows the progress of your agents’ daily/weekly/monthly tasks. You can set targets and incentives for your agents based on this metric.
   
2. First Reply Time (FRT):
   First Reply Time (FRT) is a crucial metric for online home service businesses. It shows how quickly you respond to customer inquiries and how well your support team communicates with customers.
   
   When a customer contacts you, how long does it take for a representative from your company to respond?
   
   A low FRT indicates that your representatives aren’t keeping up with the number of calls or emails they receive. This could be because there isn’t enough staff on hand, or it could mean that they’re not appropriately trained or don’t have enough time to respond to everyone who contacts them.
   
3. Resolution Time:
   The resolution time varies depending on the service you offer. For example, if you provide deep cleaning services for residential spaces, the resolution time will depend on the house size. So, be transparent with customers about the resolution time. It will help them prepare for their day.
   
   Why is it important? 

Tracking your resolution time can help you optimize your process and identify how to resolve jobs faster. It also improves your technicians’ productivity.

4. First-Time Resolution:
   Customers are delighted when the job is resolved on the first visit. This metric indicates the overall efficiency of your process. Low first-time resolution rates can be due to various reasons. Common reasons are:

1. Lack of trained technicians 
2. Inefficient processes 
3. Lack of equipment

Identifying the root cause can help you increase first-time resolution rates and, in turn, increase customer delight.

3 Top Customer Metrics For Your Online Home Services Businesses 

Customers are your best marketers. Customer recommendations help you expand your customer base. 95% of customers said that seamless customer service is critical in choosing a brand.

5. Customer Satisfaction Score: You can measure customer satisfaction using surveys after a job is completed. You can calculate the CSAT by dividing the number of satisfied and very satisfied responses by the total number of responses.
   

It is important to compare your CSAT score with industry standards. This will help you create an action plan to improve your customer experience.

6. Net Promoter Score: Net Promoter Score determines whether your customers are likely to recommend your business to people. 

7. Customer Retention Rate: Recurring customers is a good sign that you are providing exceptional customer service. To determine your customer retention rate, you need to identify the time period you want to measure. Then, calculate
   1. the number of customers at the start of the time period (S)
   2. the number of customers at  the end of the time period (E)
   3. the number of new customers during the time period. (N) 

Customer Retention Rate = [(E-N)/S]*100 

If your customer retention rate is lower than industry standards or the previous time periods, you are losing customers. And, you need to take action quickly.

Improve operational efficiency and Offer Exceptional Customer Experience

NetworkON, an end-to-end field service management software, helps you track your KPIs on a powerful analytics dashboard. 

Our field service management software helps home services businesses with 

• appointment scheduling 
• real-time tracking of agents 
• a digital proof of delivery 
• seamless communication 
• customizable checklists 

Talk to our experts to know more, or start your 14-day free trial today.