ROI is perhaps the most important business metric to be monitored.
Let’s look at it from AV industry perspective.
What drives the cost of the system?
Learn the principles and work from those principles. Sound systems can cost less money and produce better results when designed by a professional.
Don’t let your designs be driven by ads or get caught in the mindset of “adding something” to fix every problem.
It often costs thousands of dollars to correct a problem but the cost does not stop there.
You may have lost a life-long customer.
Frustrated employees lead to job dissatisfaction.
What is the real cost of a mistake?
Do you have your customer’s trust?
The initial stage of every sale should be focusing on educating, rather than selling. Does the sales person understand the “why and how” well enough to present it clearly to your customer?
If your customers understand, that builds trust. They are then more likely to buy from you.
Gaining new customers is essential for business growth, but, the real money comes from repeat customers. In fact, a study by Invesp found that recurring buyers are 50% more likely to try new products and typically spend 31% more than new ones.
A competent staff increases profits in several ways:
- Doing things right the first time increases job profits.
- A competent and confident staff leads to job satisfaction and retention.
- Sales will increase.
- A deeper level of understanding helps build their intuitive, creative, and troubleshooting skills.
Competent Staff Increases Profits
Average Cost of a Service Call
According to Google, the average service call costs between $50 – $100 per hour. Since we work in the technology field, most service calls in our industry are probably higher than this.
For about the price of one service call, you can purchase most of our online courses.
The importance of doing it right the first time cannot be over-stated.
Training costs can usually be counted as a business expense or as a tax deduction.
This decreases your investment even more.
Can you afford not too?