At ServiceTrade we know that you want to be the best commercial service contractor in the markets you serve. It’s difficult, however, to be the best if you don’t know what the best is. You could only guess about how your peers were performing, until now.
ServiceTrade analyzed data from 600 of our customers to establish performance benchmarks for the commercial service industry. We used Amazon QuickSight, the same business analytics platform available to our customers, to audit growth statistics for the two-year period of March 2018 through February 2020.
Here are the ServiceTrade customer growth benchmarks we found.
Revenue Growth
Average: 23.4%
Top 25%: 61.7%
Customer Count Growth
Average: 6.9%
Top 25%: 26.3%
The top quartile in the above categories is not made up of only small companies as you may expect. That group of high performers is reflective of the company sizes found across the entire dataset. If you are a large contractor, aggressive growth is attainable.
Revenue per Customer Growth
Average: 16.7%
Top 25%: 51.6%
Revenue per Job Growth
Average: 10.8%
Top 25%: 34.5%
Companies that earned more revenue per customer and job found additional, high-dollar sales opportunities with existing customers such as repair opportunities and additional services.
We’ve also heard from many of the top performers that they “upgraded” their customer base by firing the worst customers and selling to more valuable prospects.
As the adage goes, if you don’t measure it, you can’t manage it. This is true of your metrics compared to industry benchmarks. If you don’t measure how your company performs compared to the rest, you’ll never know if you are the best.
