SAINT PAUL, Minn. – A new member rating system applied by Nexstar Network shows that in 2014-2015, Nexstar members who utilized the most Nexstar tools experienced more growth than members who did not.
The median sales growth for the top 21 highest engaged members is 17.8 percent, while the median sales growth for all Nexstar members is 10.2 percent.
Over the last year, Coaching Director Scott Pearson and Connections Coach Pam Heruth developed this rating system, called the Nexstar Engagement Index (NEI), to gauge member participation. A member’s NEI score is measured with 19 items, including participation in the Strategic Partner Program, benchmarking surveys and regional gatherings; how often the member interacts with an assigned coach; and how many trainings and meetings the member attends.
“The index gives us data that proves a more engaged member has better business,” Pearson said.
The above numbers were derived using data from member companies who participate in the Nexstar peer-profit comparison, a monthly financial reporting program that helps members see where their businesses have areas for growth. The 21 most highly engaged companies all had NEI scores of 15 and higher.
Melvin Music, owner of Allgood Plumbing & Electric, has been a Nexstar member since 2010 and is one of the most highly engaged members. He said as he has success in his business and sees results, it is easy to see the tangible benefits of Nexstar.
“At the beginning, it was overwhelming with all the resources available,” Music said. “As we became more comfortable, and confident, in our abilities to execute some of the best practices, it seemed logical to participate on a broader level.”
Member and owner of Cool Today Jaime DiDomenico, who also serves as treasurer on the Nexstar Board of Directors, first came up with the idea of measuring engagement from members. Pearson refined the measurements for the index based on all Nexstar offerings.
“The other benefit to the NEI is that it scores us as a staff,” Pearson said. “It helps answer the question, Are we being successful in what we do?”
Dutton Plumbing used all of the Nexstar tools counted in the NEI for 2014-2015, making the company the most highly engaged member. Dutton General Manager Eric Falconer said seeing the results inspires him and the Dutton staff to keep participating in what Nexstar has to offer.
“I see it as a continuous positive feedback loop; it’s really encouraging to make a change and see it in the numbers,” Falconer said. “This is a broken record because all the successful people say this, but if you just do what the Nexstar coaches say, it works.”
Nexstar Network® is a trusted partner in helping nearly 500 independent residential service contractors improve their businesses and has been since 1992. Nexstar members benefit from comprehensive business training, proprietary processes and systems, and dedicated business, call center and marketing coaches. For more information please visit www.nexstarnetwork.com, via Facebook, Twitter, or our blog, www.nexstarnetwork.contractors.
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