Solutions will Equip Trade Contractors with Powerful Tools to Run and Grow Their Businesses Mechanical Hub was onsite last week at ServiceTitan Pantheon 2023, its annual user conference, and if there was ever any doubt or fear that artificial intelligence (AI) was coming to the trades, Pantheon 2023 put those thoughts to rest. More Read more
ServiceTitan
Solutions will Equip Trade Contractors with Powerful Tools to Run and Grow Their Businesses
Mechanical Hub was onsite last week at ServiceTitan Pantheon 2023, its annual user conference, and if there was ever any doubt or fear that artificial intelligence (AI) was coming to the trades, Pantheon 2023 put those thoughts to rest.
More than 1,500 service contractors, ServiceTitan team members and exhibiting partners spent three days exploring the “Journey to the Top” theme, which included more than 50 sessions to help contractors stay on track with next-level training, tools, and insights. In addition to the sessions, attendees enjoyed networking events, product plaza exhibit space, keynotes from industry VIPs and a closing fireside chat with tennis great Venus Williams.
“Over the past year, the world has seen a dramatic acceleration in AI advancements and ServiceTitan is making sure that the trades industry will be at the forefront of this technological revolution,” said Vahe Kuzoyan, president and co-founder at ServiceTitan.
To ensure Kuzoyan’s statement rang true, ServiceTitan introduced a suite of new products to empower residential and commercial contractors with groundbreaking technology to supercharge their businesses. Powered by Titan Intelligence, the company’s own AI solution purpose-built for the trades, these new cutting-edge solutions allow its customers to automate, predict, and optimize across their entire business.
Several of the new AI-powered products introduced at Pantheon include:
- Ads Optimizer maximizes the ROI of every dollar spent on an advertising campaign by educating Google Ads to focus on potential customers who are actively looking for service providers while avoiding users who aren’t. The feature also predicts which zip codes will have the most demand and automatically prioritizes ads for those specific locations.
- Dispatch Pro runs thousands of scenarios to get the right technician to the right job, allowing dispatchers to invest more time delivering a superior customer experience. Dispatch Pro’s algorithm also finds the best technician for every job based on the technician’s specific set of skills, recent sales performance, proximity to the job, and more – all to maximize profit.
- Integrated Financing gives contractors the tools they need to grow their business and protect their margins. The feature allows ServiceTitan’s customers to strategically control plans from multiple preferred financing providers on a single job, improving their customers’ approval rates. It also gives technicians confidence in offering plans that will ultimately win more high-value jobs easily.
- Second Chance Leads automatically detects unbooked phone calls from potential customers within minutes of the call ending, and specifically flags missed calls that the algorithm believes can be saved. The tool works in the background to identify missed opportunities, so ServiceTitan customers don’t have to.
“At ServiceTitan, AI means ‘Automated ROI,’” said Ara Mahdessian, co-founder and CEO of ServiceTitan. “We want to automate all the inefficient processes that steal precious hours away from contractors and their teams every single day, and at the same time provide actionable insights and powerful features to meaningfully grow their revenue. Our AI-powered tools allow our customers to focus their time and energy on what they’re best at, and most passionate about — solving problems for their customers and delivering the best quality service.”
While the session and networking was top-notch, Mechanical Hub was also selected as a session leader. They worked with Pfister Faucets and American Plumber Stories to present, ‘Building for Tomorrow: Recruiting & Retainment Tactics.’ The session highlighted Universal Plumbing’s Larry Jones, CEO and Shalanda Morris, Business Manager, and discussed their best practices finding, training and retaining employees. In addition, we looked for answers to address major roadblocks in recruitment, and shared some creative strategies to help contractors find their next rock star employee. A packed crowd of contractors also got to watch season four, episode one of American Plumber Stories.
Mike Prencavage Jr., owner of The Family Plumber, Los Alamitos, Calif., shared, “I attend pantheon for inspiration and motivation to grow my company. Being surrounded by great leaders and business owners in the industry does so much to rejuvenate my drive to succeed. AI will help streamline not only front office processes but also front line sales interactions. It’s important to never loose sight of the ‘customer experience’ and I feel that AI will only help to improve that high level of service. Servicetitans projected plans to incorporate these AI features are only going to help the industry and better the homeowners experience overall.”
For those that don’t use ServiceTitan and have never attened a Pantheon, it’s a learning and networking event for contractors of all sizes and experience in the home and commercial service industry. While most attendees are business owners, managers, IT professionals, or members of the finance team, all trades professionals are invited and encouraged to attend.
ServiceTitan was founded in 2007, and helps residential contractors manage a range of tasks including booking jobs, dispatching technicians, processing payments and overseeing marketing campaigns.
New report reveals that Commercial Service providers remain resilient and agile in business operations despite recent revenue challenges 66% of contractors consider digital transformation important to their operations 24% of businesses have incorporated AI technology, with 80% of those businesses seeing performance improvement from automation In 2022, repeat customers generated the highest volume of work Read more
New report reveals that Commercial Service providers remain resilient and agile in business operations despite recent revenue challenges
- 66% of contractors consider digital transformation important to their operations
- 24% of businesses have incorporated AI technology, with 80% of those businesses seeing performance improvement from automation
- In 2022, repeat customers generated the highest volume of work (69%) and revenue (44%) for contractors
- Only 30% of contractors saw an increase in revenue in 2022, and only 37% saw an increase in profits
ServiceTitan, a software platform built to power the trades, today released its first Commercial Service Report, providing insight into the challenges and opportunities facing the Commercial Services industry, as well as the strategies that businesses are employing by leveraging digital tools to stay competitive. These results highlight survey responses from more than 1,000 Commercial Service contractors around the U.S.
“Instead of looking to multiple disjointed software solutions, Commercial providers need tools that can adapt and grow with their needs,” said Vahe Kuzoyan, president and co-founder at ServiceTitan. “By embracing digital transformation, Commercial businesses can stay competitive by leveraging software to become more efficient and reduce costs, increase revenue, and provide a meaningfully better customer experience. As technology plays a larger role in business management, finding the right solution is more important than ever.”
Weathering the Storm from 2022
Macroeconomic events in 2022 created a challenging year for the industry, leaving Commercial Service contractors with a mixed outlook for 2023. According to the survey, 70% of contractors did not see an increase in revenue in 2022 — 31% of respondents reported no revenue change and 39% suffered a decrease in their revenue. With only 37% of contractors seeing an increase in margins, it’s no surprise there’s some uncertainty around expectations for 2023. 56% have neutral expectations for business in 2023, while 22% feel positive and 22% have negative views.
Commercial contractors cited a variety of risks impacting the sector; from economic recession (59%) and labor shortages (52%), to growing competition (18%) and lagging digital transformation (18%). Persistent supply chain issues still present challenges in securing materials, with 65% of respondents saying lead times for equipment have increased, and 52% reporting that material lead times for some items have increased anywhere from one week to more than two months. In terms of costs, most contractors (66%) stated that material prices have stabilized or decreased, while pricing for equipment increased (73%). As the delay in the “return to office” continues to reduce building maintenance needs, 53% of contractors have experienced an increase in cancellations or holds for their service agreements.
Focusing business goals around the customer
Even with new and continued challenges for the sector, contractors remain resilient by focusing activities on top revenue drivers like maintaining their existing customer base. The survey found that repeat customers generated the highest volume of work (69%) and revenue (44%) for Commercial contractors during this economic downturn, versus other ways of finding new customers like marketing and SEO or facilities and property management solutions. In response to this trend, owners are focusing business goals on customer retention (49%) and revenue growth (46%), whilst also putting emphasis on increasing margins (38%) and modernizing the customer experience (34%).
AI presents an opportunity for growth
The industry continues to explore artificial intelligence (AI) as a solution to streamline operations, maximize profit, and enhance the customer experience by providing time-saving tools that boost human talent. Early adopters of AI will have a competitive advantage, helping business leaders make better decisions based on AI predictions. 24% of businesses surveyed have already incorporated AI into their processes, with 80% of those businesses experiencing performance improvements from automation. Respondents see AI having an impact on a variety of Commercial use cases such as call booking (40%), invoicing (38%), dispatching (32%), and customer experience (27%).
“Finding an all-in-one software solution has eased the burden of tedious office tasks, and allowed us to focus more on our customers and business growth,” said Gary Cosmer, Partner, President & CEO of Lovett Services, a Commercial Services provider in Portland, Oregon. “For us, ServiceTitan continues to be the best solution on the market with tools like Titan Intelligence, which uses AI to deliver valuable data-driven insights and maximize efficiencies. We went from doing $16 million in revenue in 2021, to just under $20 million in 2022, and now are on track for $30 million in 2023.”
Technology is a vital tool to stay ahead of a rapidly evolving economy and competitive landscape, and the majority of contractors surveyed (66%) see digital transformation as a critical component of their operations. However, many of the businesses surveyed (59%) use more than four distinct software solutions to manage their operations, which could contribute to application overload or redundant software. This may be the reason why 16% of contractors surveyed still hesitate to adopt any technology whatsoever.
To view the full findings and key takeaways, download ServiceTitan’s Commercial Service Report here.
About the research
The survey was conducted on behalf of ServiceTitan by Thrive Analytics, an independent third-party research provider and a leading digital marketing research firm, polling more than 1,000 Commercial Service contractors representing a variety of geographical regions, business growth stages, and revenue levels. For the purposes of this survey, a “commercial service contractor” is defined as any business generating 75% or more of their revenue from commercial services. This research is for informational purposes only and ServiceTitan provides no assurances (express or implied) with respect to the accuracy of the survey data.
Industry leaders deliver innovative purchasing and payables solution that streamlines workflows and equips contractors and suppliers to grow their business ServiceTitan, the premier software solution for residential and commercial service contractors, and Johnstone Supply, the leading cooperative wholesale distributor in the HVACR industry, announce a partnership that will empower contractors to increase revenue and grow their businesses Read more
Industry leaders deliver innovative purchasing and payables solution that streamlines workflows and equips contractors and suppliers to grow their business
ServiceTitan, the premier software solution for residential and commercial service contractors, and Johnstone Supply, the leading cooperative wholesale distributor in the HVACR industry, announce a partnership that will empower contractors to increase revenue and grow their businesses with a frictionless digital process for inventory procurement.
The integration offers users access to the extensive Johnstone Supply product catalog, facilitating a more effective sales and efficient administrative process. Users will also be enabled by integrated purchasing and accounts payable workflows directly through ServiceTitan’s industry-leading platform.
“Integrating our two best-in-class technologies addresses a key ongoing pain point for contractors,” said Ara Mahdessian, co-founder and CEO of ServiceTitan. “The traditional interaction between contractors and distributors requires multiple software programs and even pen and paper, making it a tedious process that has a high risk of errors. This partnership delivers a groundbreaking solution that modernizes the workflow between contractors and suppliers.”
By streamlining product information, pricing, purchase orders, and payments, ServiceTitan and Johnstone now offer contractors an optimized workflow that can save them time and money.
“This is an innovation that fits well with our ‘making it easier to do business’ mission,” said Mike Chill, CIO of Johnstone Supply. “This collaboration provides Service Titan customers an opportunity to move into the future with increased efficiency, streamlined information, and easy payments that can help companies grow.”
ServiceTitan joins the effort to slow the spread of COVID-19 by providing safety masks to contractors and Southern California hospitals ServiceTitan will donate 100,000 masks to hospitals and essential trade businesses as part of the global effort to slow the spread of COVID-19. The company is donating 30,000 much-needed KN95 masks to hospitals in the Read more
ServiceTitan joins the effort to slow the spread of COVID-19 by providing safety masks to contractors and Southern California hospitals
ServiceTitan will donate 100,000 masks to hospitals and essential trade businesses as part of the global effort to slow the spread of COVID-19.
The company is donating 30,000 much-needed KN95 masks to hospitals in the Los Angeles area, including Glendale Memorial, Glendale Adventist, Mission Community Hospital and Centinela Hospital Medical Center.
ServiceTitan also recently made 70,000 surgical masks available to plumbers, electricians, HVAC technicians, and residential and commercial service professionals who continue to provide essential services to the public during the pandemic.
“This is a major contribution to the local fight against COVID-19,” said mayor of Los Angeles, Eric Garcetti. “ServiceTitan’s outreach to both health professionals and workers who are performing other essential services demonstrates their commitment to the community, to the industry they serve and to their public.”
ServiceTitan reached out to their community to find men and women in the trades who are in need of personal protective equipment (PPE) gear, and the masks have already begun shipping out to those in need. With over 70,000 masks the company has been able to help thousands of tradespeople and their communities stay safe.
“We understand that our mission to change lives starts in our own community in Southern California where we’re headquartered,” said Ara Mahdessian, CEO and co-founder of ServiceTitan. “Donating these masks is the most effective way we can do our part in this ongoing effort. We also wanted to address the particular challenges that the trades community is facing in this crisis. Technicians who are entering homes and businesses to provide essential services need assurance that they’re not putting their health, or the health of their customers, at risk. These masks will provide an important level of protection that will empower them and enhance their performance.”
The four hospitals recently received their masks, which have been made available to medical staff who are caring for COVID-19 patients. “The safety of our patients and our health care team is our top priority. Part of keeping everyone safe is ensuring we maintain a sufficient supply of PPE, including masks, gloves and face shields,” said Jill Welton, Glendale Memorial Hospital’s president. “ServiceTitan’s generous contribution to our hospital is appreciated and will help us keep our staff and community safe.”
The company’s mask donation is in line with its #TradesShowUp social media campaign — an effort aimed at highlighting the work home and commercial service professionals continue to do in the face of a public health crisis. Companies and individual professionals are encouraged to use the hashtag while sharing content that features how they’re staying safe and serving customers during COVID-19.
ServiceTitan, the world’s leading all-in-one software for home service businesses, unveiled two new products yesterday with the release of ServiceTitan Marketing Pro and ServiceTitan Phones Pro at its annual user conference, Pantheon. ServiceTitan Marketing Pro and ServiceTitan Phones Pro are two new add-on products that ServiceTitan believes will take home services businesses to the next level. ServiceTitan Marketing Pro helps Read more
ServiceTitan, the world’s leading all-in-one software for home service businesses, unveiled two new products yesterday with the release of ServiceTitan Marketing Pro and ServiceTitan Phones Pro at its annual user conference, Pantheon.
ServiceTitan Marketing Pro and ServiceTitan Phones Pro are two new add-on products that ServiceTitan believes will take home services businesses to the next level. ServiceTitan Marketing Pro helps businesses on ServiceTitan leverage all of the homeowner and customer information they have inside of ServiceTitan so they can deliver hyper-targeted and personalized marketing campaigns. ServiceTitan Phones Pro helps businesses on ServiceTitan reimagine the entire phones and call booking experience so they can boost service efficiency and optimize every single customer interaction.
“Our customers have been able to deliver amazing homeowner experiences and grow their businesses with ServiceTitan, but many have the desire to reach even greater heights, and driving customer loyalty through frictionless, hyper-personalized interactions will help them get there,” said Vahe Kuzoyan, president and co-founder of ServiceTitan. “Our Pro products help them do just that, by empowering home services businesses to run their business like a pro at every part of the customer lifecycle, from phone call to payment.”
ServiceTitan Marketing Pro has pre-built, curated email content that has been tested by industry experts so that end-to-end email campaigns can be built out and automated in just minutes. Real ROI is tracked at every phase of the homeowner lifecycle and includes revenue attribution and email performance. With its Audience Builder feature, ServiceTitan Marketing Pro can triangulate around any customer information in ServiceTitan — like unsold estimates, aging equipment, and expiring memberships — and deliver automated, hyper-targeted emails to homeowners. Email, call and job performance data are combined to present a complete marketing campaign performance. “Each Marketing Pro campaign that we’ve done has generated at least 10 times more revenue than the money we spent on marketing,” said Tom Howard, president of Lee’s Air and an early adopter of ServiceTItan Marketing Pro.
ServiceTitan Phones Pro brings the entire phones and booking experience right into ServiceTitan, without the need for separate, disconnected tools. The seamlessly integrated phones experience boosts CSR efficiency by eliminating the need for clicking any call bubbles or reclassifying calls. Other features such as advanced reporting, real-time transcription and sentiment analysis allow users to have greater insight on homeowner needs.
ServiceTItan Marketing Pro and ServiceTitan Phones Pro together create the ultimate digital toolbelt to minimize friction at every step of the customer journey. By replacing the traditional phone experience, ServiceTitan Phones Pro eliminates the need for landlines with embedded VoIP technology, allowing for real-time coaching tools and actionable alerts to greatly reduce customer hold times and increase booked jobs. “Phones Pro saved us from bolting together multiple separate products and gave us an integrated system which has increased efficiency across the board,” said Steve Stewart of Southern Comfort Mechanical, an early adopter of ServiceTitan Phones Pro.
“With these new Pro products, you really don’t need to be a digital marketer to market like a Pro, and you don’t need a separate phone system to book jobs like a Pro,” Kuzoyan said.
To learn more about ServiceTitan’s latest Pro products as well as its core platform, visit: www.servicetitan.com/marketingpro and www.servicetitan.com/phonespro.