Unearth a Manufacturing Goldmine with After-Sales Commerce

Posted by Leo Boon Yeow on Apr 23, 2021 3:28:00 PM
Leo Boon Yeow
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Manufacturers that delayed their digital transformation are learning a valuable lesson. Digital is no longer a disruptive force. It is a lifeline 

 

The ongoing global COVID-19 pandemic is forcing the manufacturing industry (and every other industry) towards digital. Case in point: COVID-19 accelerated B2C commerce growth by five years. 

 

According to the study by IBM, this development makes e-Commerce a must-have for B2businesses who want to survive.

 


Download our Manufacturing Commerce Playbook to find out how you can launch a high-performance digital store in just three months or less. 


 

Manufacturers need to consider e-commerce 

With e-commerce now the norm for B2C, your customers are expecting the same B2C experience when they buy from you. That makes e-commerce must-have for B2B manufacturing businesses that want to thrive

 

Your business is already struggling with: 

  • Slim margins 
  • Global competition 
  • Increasing customer demands 

 

Your customers demand the same frictionless buying experience that B2C offers. And they are taking that appetite for speed and convenience with them when buying from you. 

 

In a recent Gartner survey, B2B customers have shown a deep frustration with their buying journey. They think it is needlessly convoluted and are on the lookout for an easier way to buyfrom you or your competitor 

 

Manufacturers who can meet this challenge fast will be able to uncover a wealth of opportunities buried right in their front yard.

 

Start e-commerce initiatives fast with after-sales 

However, for various reasons, jumping onto the-commerce bandwagon is not a feasible solution for many manufacturers.

 

Your barriers to adopting e-commerce may be: 

 

An ideal testbed for your e-commerce initiatives may be hiding in plain sight—your after-sales business.

 

Your after-sales unit is responsible for: 

  • 10-30% of your total revenue 
  • Additional 15-20% in margins 
  • Improving customer satisfaction 
  • Additional 5-10% share of wallet 
  • Ensuring brand loyalty

 

But most of all, it is a predictable source of recurring income for your manufacturing business.

 

Big tech is coming after your after-sales business 

Your after-sales business is lucrative, and your trusted partner, Big Tech knows it too Companies like Amazon and Alibaba have deep technology expertise and the global reach to position themselves between you and your customers. 

 

However, what thecannot replicate is your manufacturing expertise, production dataand—most importantly—your personal relationship with customers. The ball is now in your court. The question now is, what will you do with it?

 

The revenue potential of your after-sales can't be ignored. But at the same time, the scale of each individual transaction can be too small to manage in a cost-efficient way. 

 

To uncover this revenue goldmine, manufacturers can turn to digital channels, and offer customers the option to self-serve, and buy online through digital commerce. 

 


Read our Manufacturing Commerce Playbook to find out how you can launch a high-performance digital store in three months or less. You can also download a copy for offline reading, or to build a case for investing in digital commerce. 

Download Manufacturing Commerce Playbook
Leo Boon Yeow

Written by Leo Boon Yeow

Boon Yeow – is passionate about all things tech. His background as a journalist helps him understand complex B2B technology. His mission is to translate it into fact-based, comprehensible stories that help manufacturers do business better.

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