OEMs need to be able to answer these 6 key questions:
1. Who owns the equipment that my company has sold?
2. Where is it physically located?
3. How is the equipment being used?
4. What products and services should be purchased to support it? (= installed base potential)
5. What products and services are actually being bought from my company? (= installed base penetration)
6. What are the highest potential opportunities across the installed base to drive additional revenue growth?
Answering these questions requires data and analytics.
Data can come from monitoring equipment use, customer surveys, and even theoretical modelling based on field test results.
Selling aftermarket products and services still plays second-fiddle to selling new equipment in most companies.
However, growth opportunities through mining the existing installed base typically result in shorter sales cycles and higher margins.
Download our popular guide to installed base management here
And feel free to discuss online by booking a Teams chat here
Thank you.
