Average lead to opportunity conversion rate for technology industry

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if you start simple you'll find yourself improving [Music] hey titans all right let's dive into hvac kpis for your field staff for your technicians that are out in the field what does winning look like for them what is success how do we measure it and here's the thing about this i'm going to give you some specific kpis but really you should use these as a benchmark for your own company so the number that i give yours may be higher or lower and that's okay but at least once you start measuring and using this kpi then we can start taking the action needed to actually improve it i'd love to see where you can get these things too so let's dive in the first one that i feel like service titan does a really good job of measuring is the opportunity job average or average ticket so the industry benchmark for this for the hvac department is 350 dollars per call or above all right number two tech generated leads or turnovers so this is how many times do our technicians go out and actually turn a sales lead in to a big ticket replacement opportunity because here here's what we know if we're only measuring by average ticket well we may grow that average ticket but what we also may see is our lead turnovers start to reduce so this is why i feel like it's very important to measure both of these kpis for your technicians and the the benchmark that we're going to go with the industry average is 10 or greater so that's saying every time you go out on a demand service call at least 10 percent of the time we should be getting a tech generated lead i'd love to see what your kpi is though after you start measuring it all right the third one we're going to look at is close rate so this is when we send technicians out and they actually close a call and and collect more than just our dispatch fee it's called the job sold threshold and this is when they collect something that goes above that the the industry benchmark here is 85 percent or greater theoretically we'd love for it to be 100 right but sometimes they go out and they just collect that diagnostic fee and that's it but so really if you're using this kpi it's right there visual on the dashboard let's look for 85 or above number four one this is probably my favorite because this one is the gauge of customer service and it is how many five-star reviews are your technicians actually getting and the kpi the benchmark i'm going to recommend is 40 or more so all the calls they go out to forty percent of them they should be getting a five star review on and if you have a good review process this is highly doable you know if you don't you're probably not gonna see near that the trick is you got to have a process in place and we're going to actually cover that at a later time but you can get 40 or more five star reviews there's contractors all over that are doing it their business is flourishing because of it all right number five is recalls caused this is how many times they go out to fix something and then we get that dreaded call back saying hey your guy was just out here and this thing's messing up again the truth is most of the time if they will follow the process and use the the forms and the checklist that we have available that's in service titan these recalls will go way down and your callbacks will go way down because we're going to do a thorough inspection on every call but the number that we're looking for here theoretically is zero but the benchmark the kpi is one percent or under if you start seeing a technician that's going above this kpi this benchmark then really that's an opportunity for coaching and to dive in to see are they following the system or do they need some extra technical training what's going on there so i like to keep it simple use three to five of these if you use more and it's obviously okay but sometimes it gets a little hard to focus on all right all of these different ones but if you start simple and start with these top five maybe even just three of them you'll find yourself improving because here's what we know what gets measured and recognized gets improved and repeated it's go time