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: 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 ...