Episode Overview
Running a business can be lonely and isolating. Especially if you’re trying to get a sense of how you stack up against the rest of the field.
Now comes a solution to that. Angie Snow and Chris Hunter are two of ServiceTitan’s leading Principal Industry Advisors. They’re excited to share the latest news in the industry-wide Residential Contract Report.
The report culls its findings from hundreds of contractors nationwide who represented dozens of trades–from HVAC to pest control and more.
“We surveyed a variety of trades, our regular HVAC, electrical, plumbing that we speak to quite often, but we also tapped into landscaping, garage doors, water treatment, septic, fire safety, restoration companies and other specialty trades,” Snow says.
That was helpful in bringing in a wide range of perspectives, she says, which ultimately can be seen as a holistic “State of the Union” across all trades.
“This [report] gave us a chance to see the whole landscape,” Hunter says. “Because everybody wants to know, ‘How’s everyone else doing? Am I alone, feeling what I’m feeling?’”
Research from the Residential Contract Reports includes the kind of data that gives business owners the perspective they need, he says.
“Data doesn’t lie,” Hunter adds. “You can analyze it and make the ‘people decisions’ based on a lot of what the data has to say. It’s just a very smart business practice that the best of the best are doing.”
Perhaps one of the best tips from the range of data in the study: 71% of business volume came from word-of-mouth referrals.
Angie Snow and Chris Hunter recently joined ServiceTitan’s Jackie Aubel on the “Toolbox for the Trades” podcast, which included Snow and Hunter’s thoughts on:
(5:59) How ServiceTitan compiled the Residential Contract Report
(11:56) Using data to make people-based decisions
(14:39 Leveraging data for strategic decisions
(18:27) Surprising findings around word-of-mouth referrals
(30:33) Why membership programs are far from obsolete
To hear more stories from the trades, subscribe to Toolbox for the Trades on Apple Podcasts, Spotify, our website, or anywhere you get podcasts.
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About ServiceTitan
ServiceTitan is a comprehensive software solution built specifically to help home 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.
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