Unlocking aftermarket success with installed base selling

Blogs | | Oct 2020

key to aftermarket

We see it and experience it every day- offerings for goods and services that aren’t relevant to us, poorly timed, or just unnecessary. It’s not only ineffective, but between the calls, emails, ads, and pushy sales tactics, it can be downright frustrating. Now, contrast that with the situation where you receive a message at the right time. Ex. you receive a coupon for an oil change just as you reach 3,000 miles or an email for 20% your next grocery store visit right as your fridge becomes barren, the likelihood to act on the offering, and visit that shop or store increases significantly.

We haven’t reached that day yet where our fridge contents are common knowledge to vendors, but there’s a bigger story here – a story closer to the hearts & wallets of Industrial OEMs.

Now, an OEM understands that their customers aren’t all too different from consumers- they want the right offerings at the right time. But how do OEM’s know what to offer, when to offer it, and whom to offer it to? This challenge becomes even more complicated as you deal with customers across different industries, varying utilization rates, customized applications, and multiple equipment offerings with different warranty and service periods, long lists of parts, and consumables. Creating “hunting lists” is a big pain point, and after a few laborious and time-consuming attempts, many OEMs give up and wait for a customer to contact them.

It doesn’t have to be this way. Entytle helps OEMs solve this complex challenge by taking the guesswork out of the equation through unlocking the power of your installed base and customer interaction data. Entytle Insyghts uses your transaction history across the installed base, industry segments, and utilization rates to uncover buying patterns & surface up opportunities for when and what a customer should be buying right now. In turn, this allows your marketing, sales, and services team to make the right offering at the right time, whether that’s parts, services, or consumables.

Enabling your team to be proactive with tailored offerings is a crucial step towards growing aftermarket revenue. With the ability to be proactive, changing your sales teams’ processes is key to operationalizing opportunities from the installed base. By leveraging best practices, Entytle Insyghts works with OEM’s inside sales, outside sales, and service teams to transform conversations to grow the aftermarket.

And the transformation that our customers experience is simply amazing. They go from a reactive to a proactive sales process, using data to drive decisions and recommendations with the confidence to make an offer based on past customer behavior. The bottom line is retaining and capturing the spend from your current customers, expanding your share of wallet – all while doing this in a very productive manner.

Customers calling-in present the opportunity to enable inside sales reps to augment orders. Utilizing Entytle, sales reps can quickly search for an account during the call to find qualified opportunities to offer to the customer and be armed with the knowledge to know how and why to make the offer.

Using the map feature of Entytle coupled with the installed base equipment filtering capabilities, service events can be leveraged to drive service within the installed base nearby the original equipment being serviced. Service events also provide the ability to capture critical data points such as competitor equipment onsite, verification of equipment installed, and leads for future parts and service sales. Entytle can be used to both capture and act upon this information effectively and efficiently.

Having a large installed base can hinder becoming proactive with aftermarket sales, as many orgs of large size find it difficult to make this transition. You need a trusted partner who has helped industrial OEM leaders achieve 10X ROI while working with their unreliable siloed data, including during the pandemic. Across the entire installed base, Entyle Insyghts’ predictive opportunities can identify what customers to call, when to call them, and what to call them about. Taking the guesswork out of the equation and ensuring the entire installed base is farmed for active market revenue.

 

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