How OEMs Can Increase Aftermarket Parts Sale?

According to today’s market scenario, automotive OEMs need to understand the role of aftermarket spare parts sale and its impact on their business. Aftermarket sales generate more profits than sale of original spare parts.

Out of the total revenue, spare parts sales generate 40 to 60 percent of total revenue for manufactures. Also, large part of sales also contributes to GDP of a country. However, challenge lies in the ability of an OEM to come up with perfect aftermarket sales plan that can attract more customers and dealers and can increase the profit margin of organizations. If you are an OEM, here are few ways through which you can drive business growth and gain a competitive edge by creating an effective strategy.

3 Ways OEMs Can Increase Aftermarket Spare Parts Sale:
  1. Make A Loyal Customer Base: Success in a business is directly linked to loyalty. Success of an OEM in business will depend upon how they cater the needs of existing customers. An OEM can earn loyal customers by offering exceptional customer service and putting more efforts on the values. OEM needs to maintain consistency in manufacturing and distribution process of spare parts because every time there will be a gap in demand and supply, a customer will get the opportunity to choose the competitor. However, customer trust on brand increases with OEM services. When an OEM organizes service events, they create opportunities to develop strong customer relationships and uplift brand image. OEMs need to make balance between over-durable and unreliable spare parts in their strategy for increased aftermarket sales. Provision of discount and extended warranty on spare parts are other ways that an OEM can try to improve brand loyalty and increase sales. 
  2. Lock In Existing Customer Base: End-customer always have a open market in front of them. They are free to buy the spare parts from dealer of their choice. In this situation, OEMs must give their customers the reasons to opt them. The best way they can do this is by offering best quality products, best service experience, warranty services and convenient replacements. By doing such things, customers will not go anywhere apart from you, as they will not get such services elsewhere.
  3. Adopt Proper Technology: OEM should adopt agile technology that is designed to automate tasks at an equipment manufacturing unit.  OEMs should choose the software that can span the equipment’s entire life-cycle, from part searching, ordering and tracking to reaching the aftermarket at the earliest.
OEMs can access specialized software offered by Intellinet. The software will empower OEMs to make real-time decision according to instant availability of data and make part searching, order processing and tracking process fast and automated.

As a result, OEMs will be able to offer unprecedented services to the end-customers and 24/7 online technical support will improve your brand value in market, thus increasing aftermarket sales by innovation.

Feel free to connect if you have any query regarding the Intellinet software’s or you wish to request free demo of any software. Connect @ www.intellinetsystem.com
Location: Unit No. 202 & 203, II Floor, JMD Megapolis, Sohna Road, Sector 48, Gurugram, Haryana 122018, India

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