Is Your Aftermarket Experience Driving Customers To Your Competitors?
15th August 2018
In today’s modern parts marketplace, customers are more in control of the buying process than ever before – with the ability to price, source, and obtain products and parts from a wide variety of sources, including spurious parts suppliers who don’t have the same overheads as the OEM.
But in a recent survey, 35% of industrial machine manufacturers reported that at least half of their annual revenue comes from aftermarket sales, which proves that they are a crucial element in increasing revenue and profits, boosting customer satisfaction, and building brand loyalty with consumers.
With constant innovations in technology and methods of online shopping, equipment owners and operators expect the same faultless, efficient, and quick aftermarket purchasing experience with parts, which is where a digital user experience can be your biggest competitive differentiator.
CADshare specialises in the digital transformation of aftermarket processes and we’ve found that OEMs are looking for an effective and accurate part identification and ordering process, that will give their customers the confidence that they are buying that right parts. Most of the time, those customers also want to have the choice of self-service 24/7, with the ability to request specialist help from the OEM when required.
For OEMs to make the most of this lucrative market opportunity, they need to ensure that their aftermarket experience outperforms that of their competitors, or they risk losing vital aftermarket sales, as well as potential future capital equipment business. Companies like CADshare offer OEMs the opportunity to digitise part identification and ordering systems to make it easier for manufacturers to do business with their customers.
Our platform can be broken down into two key parts – firstly, we empower the manufacturer to use 3D models as the mechanism for part identification, so they can publish intuitive and accurate 3D manuals online in a fraction of the time it takes for them to create traditional 2D parts drawings. These can also be easily updated and maintained across the entire product life cycle with systems in place to deal with part obsolescence and engineering changes.
The second aspect of our platform is flexible and powerful order management, which starts with a request for quotation through to closing the order. All ordering data is available in one place for both the manufacturer and the customer, which can yield powerful business insights when analysed.
Digitising your parts processes allow customers to easily reorder parts on a regular basis, and keep track of previous orders with ease – directly from the you, the OEM – and without the traditional headaches of shifting through catalogues, sending multiple emails, and making many phone calls – all of which are lead to a time-consuming and frustrating experience.
Having spent 20 years’ in the industry myself I’m acutely aware of the issues faced by OEMs. A bad aftermarket experience can have a long-lasting negative impact on a manufacturer’s brand, affecting not just their aftermarket part sales but also their capital equipment sales as well.
There can be a substantial impact on revenue as customers go elsewhere to get their parts, and it can be incredibly difficult – and expensive – to get those lost customers back on-board again. On the other hand, research has shown that the majority of customers are willing to pay that little bit extra when they know the aftermarket service will get the right parts to them on time.
Book a demo now to find out how CADshare can help you sell more parts.