Table of Contents
Your company’s data represents much more than numbers.
To get an overall picture of your service company’s performance and profitability, it’s imperative you track multiple undefinedfield service performance metrics to see how the results line up with company goals.
No matter whether your company’s expertise focus is HVAC, electrical, plumbing, lawn care, or pest control services, field service management metrics play an important role in your company’s success and growth potential.
» Want to grow your contracting business? Click here to get a demo.
While tracking the right field service KPIs (key performance indicators) can prove vital to your service company’s growth, analyzing the wrong numbers provides meaningless or even misleading analytics. It’s important to collect data that shows the true picture to optimize your business.
Key field service performance metrics include:
Average response time
Mean time to repair
Mean time to complete job
First-time fix rate
Monitor repeat visits
Technician utilization for billable hours
Service contract attach rate
Increase average ticket price
Customer acquisition costs
Revenue per lead
Track organic growth
Below, we examine key field service performance metrics to know and understand, so you can set realistic goals for your technicians and accurately gauge your company’s performance.
1. Average Response Time
How quickly do your techs respond to customers’ calls? Field service monitoring of this important metric informs your customer service goals—and, in turn, the average number of closed tickets.
If your business responds to calls for emergency service, understanding your average response time can help you fit more jobs (and more revenue) into your workday. Using ServiceTitan dispatch software allows your team to efficiently schedule jobs, keeps your techs on time, and creates more happy customers.
2. Mean Time to Repair
This is the average time it takes for your techs to perform onsite repairs and complete the work order. This varies widely on a call-to-call basis, but giving your techs access to education, resources, and technology can help shorten this metric and increase tech efficiency.
Just be sure to not shortchange the time your techs spend in a customer’s home by scheduling too many calls in a day. A knowledgeable tech needs ample time to investigate other potential problems and educate the homeowner about possible solutions.
3. Mean Time to Complete Job
Mean time to complete jobs is the average time it takes your business to complete an entire job cycle — everything from the initial dispatch call to scheduling, servicing, and billing.
Understanding this field service performance metric will help you analyze your company’s workflow and see where you can improve efficiency.
Utilize ServiceTitan Payments to conveniently collect customer payments in the field using an online payment portal. It will reduce paperwork and make closing invoices more efficient, and also means the company gets paid faster, too.
4. First-Time Fix Rate
Ideally, your techs should complete jobs in one visit and not need to return multiple times for the same issue or install. It may not always happen, but when it does, it’s optimal for productivity. Determine your first-time fix rate to see if your team makes too many return visits, resulting in lost opportunities to profit from new jobs.
To improve this metric, ensure your dispatch team assigns the right techs to the right jobs based on experience and expertise. It’s also important that techs arrive at a job with all the necessary tools and equipment to complete the work.
5. Monitor Repeat Visits
Repeat visits show the number of times your tech returns to a job to finalize service within a set timeframe. A high rate of repeat visits could mean it's time to examine how jobs are dispatched and scheduled, and whether techs require more training.
Consider cutting the number of appointments technicians are assigned in one shift, so they have plenty of time to finish the job on the first visit. Also cut down on unnecessary travel time by using GPS-based dispatching, giving techs more time to work at each job site.
If one or two techs make significantly more repeat visits than your team’s average, it’s time to closely evaluate their skills and possibly provide additional training opportunities to get them up to speed.
6. Technician Utilization for Billable Hours
Technician utilization measures how many productive, billable hours your techs spend during their shifts—one of the most crucial field service monitoring metrics when it comes to tracking productivity.
Providing service to customers and making upsells count as productive time. Getting stuck in traffic or traveling back to the office to get additional tools is unproductive downtime.
If your tech utilization rate seems low, evaluate ways to improve scheduling and dispatching. Minimize time wasted between jobs and provide an integrated, mobile platform for instant communication between dispatchers and technicians in the field.
The #1 newsletter for the trades.
7. Contract Uptime
To calculate contract uptime, figure the percentage of problem-free operation for any piece of equipment, such as an HVAC unit, that’s covered by a maintenance contract.
If your company makes an unusual number of service calls for equipment covered by a contract, it may be time to examine your company’s installation practices, evaluate the quality of your supplier's products, or figure out how to adjust your maintenance contract terms for improved profitability.
8. Service Contract Attach Rate
How often do your technicians sell maintenance contracts or service agreements to customers? These maintenance agreements can provide a steady revenue stream for your business, especially during slower times of the year.
If your techs or CSRs don’t convert contracts on a regular basis, revise your service agreement offerings to appeal to more homeowners and train your team on how to best pitch the benefits of your maintenance contracts to customers.
9. Increase Average Ticket Price
If your technicians in the field discover additional problems or sales opportunities, give them an easy way to provide customers with detailed quotes and good-better-best options.
ServiceTitan’s mobile app gives technicians access to a customized pricebook with various options they can show customers and allows them to present customers with accurate estimates and pricing within minutes.
Providing instantaneous information will likely increase your average ticket price, as customers can conveniently accept an estimate for installing a new product or additional services on the spot.
10. Customer Retention
In a service business, you strive to gain and retain as many customers as possible. Examine customer retention to determine if your company consistently grows the customer base and increases the number of repeat customers. Study those long-term and repeat customer profiles to determine the key steps to keeping customers happy and providing quality service.
Be sure a CSR follows up after every job—whether through a phone call, email, or text—to immediately address any issues, and improve the overall customer experience, and thus customer satisfaction. Train CSRs and technicians to ask customers for reviews and surveys immediately following a job.
Focus on improving service to reduce customer churn and increase the likelihood they’ll refer your company to others.
11. Customer Acquisition Cost
In the world of marketing, customer acquisition cost equals your ad spend divided by the number of booked jobs as a result of that spend, over a certain period of time. With ServiceTitan Marketing Pro, you can track all of your company’s marketing efforts to determine ROI for each campaign, and see what’s working and what isn’t.
Aim for the lowest CAC possible, adjusting or abandoning any marketing campaigns with an excessively high CAC. Utilize targeted email marketing to get your message to the right customers at the right time, at a lower cost per acquisition than most marketing methods.
12. Revenue Per Lead
To find your bottom line, look no further than revenue per lead. Revenue per lead is the total volume of sales divided by the total number of leads, including canceled leads. As you look at field service performance metrics, it’s important to examine the percentage of closed leads. If your company closes only a small percentage of total leads, it’s time to re-examine key business practices.
For Weldon Long, President of Wright Total Indoor Comfort, revenue per lead provides a key metric. As Long told Contracting Business: “That’s the best metric we’ve found.”
13. Titan Score
Find out if you’re fully utilizing the capabilities of ServiceTitan software by assessing your company’s Titan Score. The Titan Score, built into your ServiceTitan account dashboard, compiles existing performance metrics into seven business practices.
A company’s score goes up each time it implements good business practices, indicating the ServiceTitan platform is being utilized to its full potential. Explore ways to improve your Titan Score, which will give you a better understanding of your company’s field service performance metrics.
And, ServiceTitan data show that a higher Titan Score, which signifies higher adoption of the features available in the cloud-based software, leads to significantly higher revenue.
14. Track Organic Growth
All of these critical metrics help you measure your company’s key performance indicators, or KPIs. Closely tracking field service performance metrics and KPIs will accelerate company growth, while also revealing areas where your teams need improvement to achieve profitability goals.
While revenue certainly factors into growth, it’s important to consider all aspects of the business and look at a variety of field service performance metrics. Analyzing your company’s data in real time allows you to accurately gauge everyone’s performance, and make measured changes to grow successfully.
ServiceTitan is a comprehensive software solution built specifically to help service companies streamline their operations, boost revenue, and substantially elevate the trajectory of their business. Our comprehensive, cloud-based platform is used by thousands of electrical, HVAC, plumbing, garage door, and chimney sweep shops across the country—and has increased their revenue by an average of 25% in just their first year with us.