Connected Customer Experience

Guest blog by Michael Blumberg, Blumberg Advisory Group

Syncron, a leading provider of Service Parts Planning, Pricing, and Uptime Management Solutions, has announced a merger with Mize, a leading provider of Field Service Management (FSM) and Warranty Chain Management (WCM) solutions. The merger creates the world’s largest privately-owned provider of Connected Service Experience (CSX) and  Service Lifecycle Management (SLM) solutions for manufacturers, distributors, and service ecosystem partners. The new entity brings together two well-recognized leaders in their respective cloud solutions markets.

Aligning People, Processes, and Technology to Improve Post-Sale Durable Goods Customer Experiences and Revenue

Aftermarket has taken a backseat to other company-wide digitization initiatives for durable goods manufacturers for far too long. While we collectively recognize the value of post-sale revenue, it has been difficult—and nearly impossible—to align the people, processes, and technology required to optimize the approach.

Net promoter score (NPS) is one of the most widely used methods to identify customer satisfaction and loyalty. It's a comprehensive measure – covering both the number of promoters and detractors for the service that companies provide.

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.

Aly Pinder, Program Director for Service Innovation & Connected Products at IDC, discusses how knowledge transfer can be seamless across service organizations.

Optimize Your Service Contract Operations: Increase Your Service Contract Revenue

A statistic to overcome: Companies realize less than 15% of potential service contract revenue.

Overall, unachieved revenue results from businesses not offering service programs beyond standard product warranties. Even when service programs are offered, the attach rates remain low as some retailers and channel partners may not focus on service sales, or customers fail to understand the value of these programs.

This month's webinar, hosted by Mize, Inc., highlighted the top priorities for manufacturers and services organizations driving investments around service innovation. Improving the customer experience, growing revenue, and innovation through knowledge management figured prominently.

Our presenters, including Aly Pinder, Program Director for Service Innovation & Connected Products at IDC, Stuart Ransom, Chief Revenue Officer of Mize and Michael Blumberg, Chief Marketing Officer of Mize, led the discussion of how end-to-end service excellence enables the framework to meet the challenges faced today and in the future.

It’s every manufacturer’s challenge: how to build a forever transaction with every customer you’ll ever have.

Initial product sales are your primary focus, and rightly so – they provide immediate net new revenue, cash flow and market share growth. Though when you turn a single-event sale into a subscription model, the revenue scope shifts to an ongoing relationship, facilitating a forever transaction, and often a customer for life.

Seemingly every company touts a customer-first focus. Though for manufacturers, an accurate admission is that their concentration is squarely on their products. It’s a common trap: manufacturers have people and processed that primarily think from the product vantage, with systems and technology infrastructure that keeps this mindset prominent.

Is this a profitable way forward?

Mize CEO Ashok Kartham Featured Guest of Field Service News Podcast

Kris Oldland, Editor in Chief of Field Service News recently featured Mize CEO Ashok Kartham on the publication’s podcast, to gain insight into his company’s rapid advances in warranty and service lifecycle management SaaS system for durable goods manufacturers.