The Fall season brings many things that I enjoy. The changing of the leaves, the kids and the costumes of Halloween, and the beginning of the Holiday Season! However, it also brings with it the deployment of next year’s goals. Hidden by the acronym…AOP.
AOP = Annual Operating Plan…budget…goals
If you are targeting significant growth objectives (double digits for most Aftermarketrelated businesses is common) than you need to break down how you will meet this goal. Here’s a few areas that you will want to review to help meet your AOP target:
- Price Increases
- Strategic Investment areas
- Sales Force Effectiveness
- Your own Data
You will most likely start with some of the basics such as Parts and Service price increases and strategic investment areas (headcount adds, new product launches). Spending time on your value you bring and the associated price of that offering is a great use of your time. However, you most likely will need more than Price and some strategic investments to help you hit your AOP targets. I would recommend that you also spend some time on the last two areas to help reach your goal.
Sales force effectiveness and your own company data.
In order for an organization to grow their Aftermarket business significantly, a focused and dedicated Aftermarket sales team is necessary. This team must wake up every day to be proactive in their approach. Reaching out to customers to help them optimize their total cost of ownership such that they maximize asset availability, reliability and efficiency are what they should do each…and every day.
You can hire the right people, you can teach them the right ways to communicate value (don’t forget to listen to their elevator speech), but can you point them in the right direction? Where do they start each and every day? Do they know who to call? How do they prioritize the massive installed base list they have?
Most organizations have a hidden resource buried in their own company data.
Past historical transactions can not only identify the Installed Base, but can provide the ingredients to uncover insights into customer buying behaviors. The sources of data that a company creates is significant: ERP transactions, CRM information, call center data, service repair orders, warranty registration, etc, etc. These sources of data can identify behaviors that can now be used to drive improved customer asset reliability…and help differentiate your organization from the competition.
Entytle can help! Act now on how you will meet and exceed your upcoming AOP targets!
Check out our video below on how to start this process towards being Proactive with a Purpose!