Tracking Your Company’s Successes in Three Ways

Revenue, customer satisfaction and market knowledge can all come together to provide success stories for your company.

One of my favorite things to hear about when talking to contractors for profiles in Plumber magazine is hearing the success stories they share. Those success could be in the form of revenue, big growth or even the addition of new services.

You’ll hear about one of those plumbers who has seen great success with his company as we profile Radiant Plumbing & Air Conditioning, of Austin, Texas, in this issue. Co-founder Brad Casebier started the company in 1999 along with his wife and last year Radiant saw an impressive revenue of over $50 million.

Checking out your company’s finances is one of the biggest measures of success for any business owner out there, but there are many other ways to measure it, whether your company is a large one with 100-plus employees, or a small one with two employees.

CHECKING CUSTOMER SATISFACTION

After finances, customers satisfaction is probably the next most important measure of success for companies. If your customers aren’t satisfied after your services, they probably won’t be calling you again to do more work.

How do you measure customer satisfaction? You could look at the reviews online and see where improvement is needed and reach out to those customers who review poorly. If you don’t have a lot of online reviews, try sending surveys or reviews out to customers who just called upon your services. You could even have your plumbers asking after a job if the customer is satisfied — make sure they are trained for any response that may follow.

GETTING NEW CUSTOMERS

To go along with the customer satisfaction, you could also measure success by the number of new customers you are getting each year. If your business is stagnant with the same customers, you might need to kick up your marketing strategy.

You should be tracking who your current customers are and who the new ones are and look at those numbers at the end of each month, quarter or year. Average how many customers you get from each new business action — like adding services or upping your marketing efforts. By averaging your new customers every so often, you can see how successful your business is at drawing in new people.

KNOWING YOUR MARKET

You might wonder how knowing your market can measure success. Well, you need to know how the market in your area is doing in order to track success. If you and your competitors are all struggling, it might be because there is a lull in the local market.

Don’t be down if your profitability decreases. It might be a result of the industry overall and out of your control. Decreased profitability could be a good time to introduce new services or new products your company can offer.

SMALL SAMPLING

These are just small sampling of ways you can track your company’s success. Do you have other methods to do so? Let me know by emailing me at editor@plumbermag.com or calling me at 715-350-8436.

Enjoy this issue! 



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