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Web extra: 7 keys to service diversification

|  September 21, 2020
PHOTO: IJEAB/ISTOCK / GETTY IMAGES PLUS/GETTY IMAGES

PHOTO: IJEAB/ISTOCK / GETTY IMAGES PLUS/GETTY IMAGES

Editor’s Note: This is a companion piece to the author’s ABC’s of Growth column that appeared in the September 2020 issue of PMP. Read it here: “Grow your business with service diversification

Like most pest management companies I know, ABC Home & Commercial Services started out as strictly a pest control company that dealt with residential and commercial pest and termite customers. We have always been heavy on the residential side, about 80 percent residential and 20 percent commercial.

Today, we provide services in pest management including termite, bed bug, rodent and mosquito. Lawn services include lawn care (fertilization, insect disease and weed control), irrigation, mowing, landscaping, tree care/trimming and holiday lighting. Mechanical services include plumbing, electrical, water quality and heating, ventilation and air-conditioning (HVAC). Home improvement services include handyman, pool cleaning/repair, window cleaning and power washing.

When you look at how we have diversified and grown, each service came about in a different way. Some were intentional; some were because of government regulations. Some were in response to customer requests, some were through acquisition, and others were because someone had a good idea.

We have discovered several key thoughts along our diversification journey:

  1. There is no better customer than a current customer.
  2. If customers trust you, they will try you for another service.
  3. The more we do for customers, the more valuable we become to them — and the more valuable they become to us.
  4. The more services we provide, the deeper the relationship.
  5. There is a double-edged sword: You must be outstanding at all services, or you run the risk of losing all that you do for that customer.
  6. You can build a business by going deep in a market and not have to go into multiple markets.
  7. It is much more efficient to market to existing customers than to completely new customers.

JENKINS, who rotates this column with his brothers Raleigh and Dennis, is president of ABC Home & Commercial Services, Austin, Texas. He can be reached at bjenkins@goanteater.com.

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