We’ve run the diagnostics. By now it's clear that a lot of these predictions were overly optimistic. The expected increase in service revenue hasn't happened yet, leaving lots of people disappointed.
Customer centric approach
Setting the right expectations is crucial. It allows you to make informed decisions on whether to continue, modify, or discontinue this investment.
When it comes to your services, that business case should revolve around your customers, not your finances. When they are happy, the money will follow.
Your customers need you
Operators and maintenance people are becoming less skilled and changing jobs more frequently, leading to a decrease in knowledge about the machinery in the plant. At the same time, machines are getting more complex, making them harder to maintain for the end customer.
This means your customers lack the in-house expertise to manage the complexity of your machines. The scarcity and cost of skilled labor further emphasize the importance of relying on you, the machine builder, for after-sales services.
The ‘build, sell, and forget’ model is no longer sufficient. Customers are looking for lasting relationships with machine builders. They want to feel secure in their purchase and they desire support that will be readily available when needed.
Collaboration
Happy customers invest in IXON not for the purpose of directly boosting service revenue but rather to enhance overall operational efficiency of their service department and elevate the customer experience.
The true value lies in fostering collaboration and the ability to empower machine builders to understand their customers on a deeper level. You can empower your customers with self-service options, respond faster, and even anticipate customer needs.
Sustainable business growth
This customer-centric approach not only improves satisfaction but also contributes to long-term loyalty and, indirectly, revenue growth. In essence, the investment in a platform like IXON is a strategic move to optimize internal processes and cultivate stronger, more meaningful connections with customers, leading to sustainable business growth over time.
See you in two weeks with another edition where I’ll share the learnings from two recent CONNECT events in Italy and here in the Netherlands.
Thanks for reading this. I really appreciate it.
- Steven