In a year that has seen a number of acquisitions and mergers, pest control businesses are wondering what new developments 2022 holds. Whether we consider the big deals made this year or the more modest ones, one thing is absolutely certain – the pest control industry is growing.
Reuters recently reported that the “$22 billion global pest control market should grow at between 4.5% and over 5% over the medium term” which could mean great things. However, in order to ensure your business gets a slice of the pie, it’s important to contemplate the business trends that could impact your business next year.
In this blog, we are going to take a look at three key trends that will define success in 2022.
Originally published in 1996, Coopetition by Adam M. Brandenburger and Barry Nalebuff outlined how a combination of competition and cooperation can make businesses even more successful. But this concept has not gone stale. In a recent article by Forbes, they named co-opetition as one of the 8 Biggest Business Trends In 2022. What does this mean for the pest control industry?
There are many things that make the pest control industry great. One of its attributes often mentioned is its resilience. This important trait is undoubtedly born of the historic cooperation amongst pest management professionals. From the sharing of information and experience through to the camaraderie fostered by the work itself, pest control has always been an environment for cooperation.
As we look ahead to 2022 there are a lot of uncertainties, and as the Forbes article states, “the need to work together to solve key business challenges… is great”. Pest management is known for being recession-proof, and with the challenges to the economy ignited by the current pandemic, this quality is particularly important. However, in order to grow, cooperation with the competition is not only desirable but necessary. Whether it takes the form of referring customers you’re too over-stretched to service to a fellow business, or pooling resources as supply chain issues continue, co-opetition will be key to success next year.
This trend may seem like a no-brainer. Putting customers first is the cornerstone of most successful businesses of course. Nevertheless, the pandemic has changed customer expectations and behaviors rather dramatically in a short period of time. Pest control companies will need to account for this in their operations throughout the year ahead. In a report about trends for chemical businesses published by Deloitte, they estimated that a business’s ability to prioritize customers’ needs and expectations will be crucial to success next year.
As a people-first industry, pest management professionals are used to putting their customers first. However, pest control companies need to assess how their customers’ needs and expectations might have changed and what changes might need to be made in order to accommodate these. As the Deloitte report succinctly states, the ability to establish sustainable customer loyalty “could depend on the extent to which customer-centricity is embedded within every link in the value chain”.
For pest control businesses this might mean adopting customer engagement tools in order to ensure that customers’ needs are being heard and met. With pest control software such as ServSuite, you can leverage automated communication for the dual benefit of less manual labor and increased customer satisfaction. Customer-centric innovation should shape the business decisions you make in 2022. Make sure you have the right software to make it happen.
Agility is a buzzword in articles about business trends in 2022. Its buzz speaks to its importance for building strategies in 2022. As Freshminds articulate in this article, there are many spokes to the wheel of agility. Pest control businesses need to consider how this concept will impact their operations. In particular with regard to inventory management, remote monitoring, and workforce planning.
It would be fair to say that all businesses have been impacted by supply chain issues since the Covid-19 pandemic began. Managing inventory can be challenging at the best of times. In 2022 things look set to become even more difficult. Without a doubt, the best way for your business to monitor and analyze how your business is impacted by the supply chain issues is with inventory management software. Using a solution like ServSuite will allow you to make data-driven decisions and thereby boost growth.
There is a long-standing need for skilled workers in professional pest control. The challenge of not only hiring but retaining the right people is now greater than ever. Over the last two years, numerous workers have sought alternative employment, which has caused innumerable headaches for pest control companies. From accessing resources like the NPMA jobs website to launching apprenticeship schemes, building agility into HR is key in 2022.
The pest management industry is less likely than other trades to see interruptions to their businesses. Since it is widely considered an essential business social distancing regulations are not detrimental to operations. However, being agile enough to move to adapt to remote working is essential. Remote monitoring solutions like Sentricon allow pest management professionals to accurately monitor pest activity off-site. Moreover, they empower businesses to provide customers with a rapid response. Enterprise pest control software ServSuite integrates with a number of tools, allowing your business to be as successful as it can be.