Building an OEM Recurring Revenue Stream with Customers
Generating a recurring revenue stream with customers is a critical business objective facing Durable Equipment Manufactures. The key: building a forever transaction with every customer you have.
This reality is quantified. A study by McKinsey indicated manufacturers achieving a 20% increase in aftermarket revenue and 30% growth in long-term contract penetration by creating bundled service offerings. They built Forever Transactions with their customers. Is this your reality?
According to a recent study by CFO Research, 80% of companies surveyed will have recurring revenue models in place within the next five years. Manufacturers miss revenue and profit opportunities if they don’t have the infrastructure to offer and manage recurring revenue streams.
Syncron’s Connected Customer Experience Platform and configurable Smart Blox enable you to acquire and retain subscribers to grow recurring revenues, to
- Streamline, simplify, and enhances Subscriptions – Set up and administer flexible service programs configured to the industry, product, and customer needs
- Launch effective Subscription Campaigns – Use the web, mobile, social channels, or email to market, sell, and manage subscription programs.
- Manage Subscriptions – Consumers can manage all the subscription programs and information from online or through a mobile app.
- Gain Actionable Insights – Dashboards and detailed analytics to help marketers optimize campaigns, promotions, and customer segmentation.
Your company can generate a profitable and predictable, recurring revenue stream through Syncron’s Smart Blox for Subscription Services, Parts, Plans, IoT, Knowledge, Service, and Support.