Lunch & Learn: 3 Numbers to Know
Date postedJanuary 15, 2025
Speaker: Kimberly Kean of KimberlyKean.com
Topic: 3 Numbers to Know Cut to Train, Motivate, and Reward your Service Team
Thank you to our Lunch & Learn Sponsor, Linescape!
Recap Summary:
To provide training on key performance indicators (KPIs) for managing service technicians and improving business performance.
Key Takeaways - focus on 3 critical KPIs for service techs:
- conversion rate
- average invoice
- Google reviews
Hold weekly meetings to review KPI performance and motivate team.
Defining and Measuring Leads - Clearly define what counts as a lead and a sold lead
- Typical lead = any booked opportunity for work you do
- Sold lead = invoice above set threshold (e.g. above dispatch fee)
Conversion Rate KPI
- Formula: Sold leads / Total leads run - Typical goal is 75% conversion rate
- Average Invoice KPI - Formula: Total revenue / Number of leads run
Recognize high performers and have them share best practices.
Google Reviews KPI - Goal is to maximize 5-star online reviews
- Develop system to consistently request reviews (e.g. automated requests)
- Prepare scripts for staff to respond to positive and negative reviews