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      2 min read

      Building an OEM Recurring Revenue Stream with Customers

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      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.

      Mize’s Connected Customer Experience Platform and configurable Smart Blox enables you to acquire and retain subscribers to grow recurring revenues, to

      • 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.

      Your company can generate a profitable and predictable, recurring revenue stream through Mize’s Smart Blox for Subscription Services, Parts, Plans, IoT, Knowledge, Service, and Support.

      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.

      See how - Request your Mize demo and receive your free book today.

      Request Your Demo & Book

       

      BLOG AUTHOR

      Tim Nissen

      Tim Nissen has built companies through marketing in categories including technology, manufacturing, energy, commercial real estate and business services.