Mark Satov and Adam Kovalcik had the opportunity to attend the Jobs Won Well Summit hosted by Angi. The summit brought together home services contractors (pros), investors, and vendors for an exchange of ideas and strategies focused on optimizing pros’ marketing and sales engines. 

Mark and Adam presented on state of the home services industry in the US, discussing the challenges that home services pros face today, and what top players are doing to overcome them. A few themes drove the discussion:  

• Market headwinds are slowing growth: Economic pressures including high rates and inflation are driving down consumer sentiment and home building, leading to less demand for discretionary home services. Those providing mandatory, unavoidable services are more insulated, though consumers are opting for repairs or cheaper replacements equipment where possible. 

• Competition is growing and sophisticated: Despite sluggish demand, the number of home services pros is growing, making competition more fierce. Large pros dominate the market in terms of revenue, and continue to grow. Private equity is also increasingly investing in home services. They are betting that building large platforms will drive economies of scale and scope, though they often struggle to achieve perfect synergies. 

• Competitors are adapting quickly: Pros who want to win are simultaneously doing the little things right and adopting transformational tools and services. They have an omni-channel marketing presence, a structured approach to handling leads, thoughtful sales and customer service processes, and the data to track everything. They are also rapidly exploring AI across their businesses, identifying use cases with real value, and deploying solutions that are already in front of homeowners. They are not waiting for the market to settle on what actually works. 

You can find the presentation material below

For more detailed insights please contact: 

Adam Kovalcik: [email protected]