Back to Growth: Smart Pricing Strategies to Boost Aftermarket Business
Transform your aftermarket strategy. Discover AI-driven pricing tactics and actionable insights from our expert-led webinar.
As we approach 2025, the changing global environment requires CEOs to build a resilient strategy while exploring new avenues for growth in the machine manufacturing industry. We present the common challenges faced by OEMs, potential growth drivers, and a blueprint to leverage these insights for your success in 2025.
Driving revenue and profitability will be a priority for every OEM CEO in 2025. Learn how to leverage the existing growth opportunities in your portfolio and unlock new revenue drivers in 2025.
Identify possible roadblocks that could hinder your growth and learn how to mitigate these risks early on.
Your parts business is a potential mine: Learn how to realize this potential in your company.
Latest OEM trends: Learn how to leverage the most important trends for driving revenue, profitability & becoming resilient in 2025 and beyond.
In the coming years, every OEM CEO will need to grapple with some common strategic challenges. These challenges revolve around the slow adaptation to digitalization, lack of skilled resources to advance R&D, and lack of digital infrastructure to capitalize on unrealized potential revenue.
With some strategic changes and increasing the pace of digitalization, manufacturers can optimize various aspects of the parts business and uncover new avenues to drive growth:
Harnessing the power of AI and latest digital tools, machine manufacturers can leverage market intelligence to navigate the complicated market dynamics, devise informed strategies, and increase the efficiency of every part of their business.
By utilizing AI, manufacturers can analyze vast amounts of data related to market trends, customer behavior and competitor pricing, enabling them to quickly determine the optimal prices for parts. This not only saves time and effort traditionally spent on manual pricing research but also ensures competitive pricing strategies that are data-informed. Additionally, by setting prices that strike the perfect balance between attracting customers and maximizing profitability, companies can unlock hidden revenue sitting in their inventories.
Get our free whitepaper and learn how to gain profitability and relevance in 2025 in after sales.
The after sales and parts business in the machine manufacturing industry is a potential gold mine: manufacturers generate 40-50% of their overall profits from services. Still, there is opportunity to generate even more.
The main potential in the parts business lies in parts pricing.
Implementing innovative technologies and solutions is crucial to stay competitive in today's ever-growing digital landscape. Staying open to these types of solutions, especially when centered around the parts business must become a priority. Your a market-based parts pricing strategy is of utmost importance as it enables machine manufacturers to accurately reflect market dynamics in their parts pricing. By aligning prices with the perceived value of parts in the market, businesses optimize revenue, increase profitability and gain a strong competitive advantage.
Aftermarket parts can generate significant revenue and profits, are you doing all you can to capitalize on the opportunity? Lower effort with a compelling return on investment and benefit from $4MM accumulated revenue in under 24 months.
The biggest challenge in spare parts pricing? Nailing the perfect selling price.
The solution? A market-based spare parts pricing strategy. Shockingly, only 4.1 % of all spare parts are priced in line with the market - use your potential and maximize sales, profit and customer satisfaction.
"MARKT-PILOT succeeds in providing a trusted solution to a crucial issue within the engineering sector, mapping the quintessence and benefits in their software. The added value for OPTIMA is massive - thanks to newly acquired insights, we can align our prices with the market and optimize our supply chain. MARKT-PILOT speaks the language of machine manufacturers!"
Achieving market share, profitability & future resilience. When you dedicate effort to scaling your parts business, you reap the positive results.
There is an emerging focus on investing in the after sales business amongst OEMs. This is driven by the highly lucrative nature of the aftermarket sales and the opportunities they bring along to strengthen customer retention. Given the multitudes of growth drivers enabled due to the aftermarket sales, OEMs are increasingly putting a strategic focus on scaling this side of their business. A razor-sharp focus in this area can bring a massive return on investment for OEMs.
Access to market intelligence on the external players allows companies to build a highly resilient and competitive strategy. Having the right insights enables manufacturers to optimize their pricing strategies, analyze costs and manage their product portfolio effectively. By understanding market trends and competitor pricing, manufacturers position themselves strongly in the market while simultaneously maximizing profitability.
OEMs are focusing on strengthening customer relationships by being more customer-centric across all aspects of their business. This allows companies to enhance customer loyalty, satisfaction and retention, consequently increasing the overall Customer Lifetime Value (CLV) across their customer portfolio. This not only leads the way for a sustainable strategy to scale their parts business, but also establishes a brand affinity that ensures the continued growth of a company.
Explore the amazing success stories of our customers and discover how PRICERADAR is allowing machine manufacturers to gain a competitive advantage and unlock their full potential.
Our 150+ customers have seen great success with a market-based parts pricing strategy. For HOLMER Maschinenbau GmbH, before working with MARKT-PILOT, they used a cost-plus pricing strategy, where additional research to check the price positioning could only be carried out for two to three larger components and involved a lot of effort. The market remained a black box. Now, with MARKT-PILOT's PRICERADAR and easily implementing a market-based pricing strategy, HOLMER sees the potential for price reductions, price increases and exclusivity positions, and spare parts prices can be adjusted to the current market in a fact-based and competitive manner.
Transform your aftermarket strategy. Discover AI-driven pricing tactics and actionable insights from our expert-led webinar.
Master price communication for spare parts! Learn strategies to navigate price adjustments & build trust. Retain customers now!
ISO 27001 Certified: MARKT-PILOT, your trusted partner for secure spare parts pricing. Rely on our certified data security to protect your business.