How can inflation and supply chain issues be good for your aftermarket business?
The answer is easy: we raise product selling prices and stretch delivery lead times to survive. Both outcomes work together to reduce the number of new products sold, but they do nothing to change customer demand. This situation means customers will keep their older products in use longer than planned.
This article appeared on Thomasnet.com in August 2024. Click here to read the complete article and get advice about growing your aftermarket business.
About Middlesex Consulting
Sam Klaidman is the founder and principal adviser at Middlesex Consulting. He helps his B2B product manufacturing clients grow their service revenue and profitability by applying the methodologies and techniques associated with Customer Value Creation and Customer Experience professions to assist his clients in designing and commercializing new services and the associated business transformations. Contact Sam here.
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