SPARROW4LIME and the #LIMEGLOBALBRAIN
SPARROW4LIME SpaaS — Spare Parts as a Service
OEM and Manufacturers can open up new revenue streams from Spare Parts subscription model in lime industry
Spare parts subscription-based business models background
After years of supporting one-time equipment purchases, industrial firms are coming to rely more and more on subscription-based business models as the demand for access over ownership keeps soaring also for spare parts
Making the transition to subscriptions opens up new possibilities for industrial equipment manufacturers to create a loyal base of customers and build steady revenue.
Subscriptions have risen to stronger prominence in the manufacturing world. The sharp increase in subscription-based offerings has principally come as manufacturers strengthened efforts to reach and support customers throughout the past two pandemic-filled years. At present, manufacturers commit even more to supply products and services through monthly or yearly subscriptions. Plus, some lay out plans to unlock additional revenue streams from customer subscriptions to services and spare parts deliveries.
There are many reasons why manufacturers pursue new income streams — and some of the most important are to boost growth and take on industry rivals as competition heats up and customer expectations hit all-time highs. Yet the road to new revenue opportunities can quickly turn into a mighty maze. Industrial firms stand to profit immensely from opening up new paths to revenue but not without fully understanding which strategies work to their advantage.
How it works: a Data-Driven Personalization Strategy
Expectations around personalization now extend to spare parts and services. Subscriptions make it much easier for manufacturers to deliver on such expectations because they can be customized to the customer’s liking to allow, for a defined period of time, a guaranteed:
- Delivery of custom-made spare parts for specific equipment
- Provision of services individually tailored to the needs and interests of every client
Many of the firms providing customized subscriptions find success thanks to data.
Over time, manufacturers continuously generate large troves of data through subscriptions and customer interactions. If accessible and usable, that data plays a central role in a firm’s personalization efforts.
- First of all, data expands the understanding of demand patterns and customer specificities.
- Secondly, it aids industry players in identifying client intentions and predicting outcomes.
- Most notably, though, data helps in customizing offerings to individual preferences.
Those who make proper use of data can put forward excellent subscription plans to personalized services and spare parts — creating greater value for customers. Once these subscriptions have proven their worth to clients, firms may tremendously improve their potential to drive additional purchases and tap into unexplored income streams.
OEM and Supplier — join SPARROW4LIME today
*** Launch expected Q1 2023 ***
«The Lime industry is under pressure. With latest data technologies and deep knowledge of the industry, daily supply chain issues can be solved in an innovative manner .» — Torsten Gruenzig VP Sales SPARROW
The past few years have seen manufacturers making serious attempts to reorganize their business focus around subscriptions. For most, joining the burgeoning subscription economy is essential to pursuing new revenue streams from spare parts and services. How can manufacturers move forward with this goal?
“Making the transition to subscriptions opens up new possibilities for industrial equipment manufacturers to create a loyal base of customers and build steady revenue.”
Here are some ways manufacturers can run a profitable subscription-based business that paves the way to new and stable streams of income from spare parts and services.
Manufacturers can invest in SPARROW4LIME platforms specifically built for spare parts subscriptions model in lime industry. Supported by the SPARROW4LIME Team, they will allow their end-users to easily purchase subscriptions to a selection of parts and service packages.
SPARROW4LIME will regularly publish electronic catalogs with relevant parts and service information to enable customers to make effortless and correct subscription decisions.
This maximizes the usability of SPARROW4LIME and, therefore, the revenue potential of all offerings displayed on such platforms.
X4LIME premium services
- Advanced maintenance, inspection, and emergency repair services
- Technical support dedicated to the installation of spare parts
- Original and limited-edition spare parts
Join the movement
Lime producer? OEM? Parts supplier to Lime producers? Join Sparrow4Lime today sending your email to info@x4lime.com or visiting our website
© Published with ❤️ by X4LIME November 2022
