Expand into solutions. Increase the aftermarket. Extend the share of the business. Secure long term agreements or generate more service contracts. Launch service products. Or strengthen, establish. Globalize.
Grow. Whatever adjective you use in management meetings to describe the vision of your service business this year, it’s an adjective with positive resonance and translates to a healthy foundation with an awareness that it’s time to unlock your service potential.
There is an optimistic feeling among Service Leaders within the manufacturing industry, confirmed by a recent Copperberg Research where almost 95% of those surveyed have a (extremely or somewhat) positive view of the future of the Service Business in Europe within the next five years.
But how to reach into that untapped potential?
Customer expectations and behaviors are rapidly changing. The need for flexible and customizable solutions offers manufacturers the opportunity to create more “performance partner” types of relationships. But this requires a shift in mentality and perception, to ensure your organization has the internal commitment to invest in the right people and the best-fit technologies to grow.
Furthermore, you need to innovate your business models to develop data-driven services that offer value to your customers and will get you the competitive edge. Finally, you need to ensure the efficiency of your service delivery and your communications channels (with customers but also suppliers, dealers…) to create a unique, omnichannel customer experience that will leave them delighted … and loyal.
I look forward to welcoming you at our 10th ABP!
Sincerely, Copperberg Team
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(Aftermarket Europe Group)