Generating a recurring revenue stream with customers is critical business objectives facing Durable Equipment Manufactures today. 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 5 years. Manufacturers miss revenue and profit opportunities if they don’t have the infrastructure to offer and manage recurring revenue streams.
- 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.
Building a Forever Transaction is the function of having the right culture, systems, process, pricing, and performance metrics in place. Robbie Kellman Baxter, a leading membership and subscription business model expert and bestselling author relays your options in her book, The Forever Transaction: How to Build a Subscription Model So Compelling Your Customers Will Never Want to Leave.
Mize is offering you a free digital copy of her bestseller, along with a look at Mize’s Connected Customer Experience Platform and configurable Smart Blox. Mize automates the capabilities for you to create a Forever Transaction, through an integrated, single-system platform that enables your reoccurring revenue stream.