Here's why manufacturing's aftermarket support is a profitable revenue source!

Manufacturing to its core is to generate revenue through the fabrication of quality products. But what if this is not enough? In recent years, especially with the pandemic, almost every industry has faced severe problems which include gaining profits. Which is why finding a better way to improve is pertinent. One such way is aftermarket support for end-customers.

Many manufacturers, including Radiant Appliances & Electronics , provide aftermarket support to their users. It not only increases profits but also to improves customer relations. Besides these, there are numerous benefits for the customer as well as the business in the aftermarket industry. Keep reading to find out how after-sales support helps the business as well as the customers equally.

• A profitable revenue opportunity

Did you know that the aftermarket operating margin is 2.5 times higher than the one for new equipment sales? Even the experts in the industry believe that in the manufacturing industry, 50% of sales come from fabrication and 50% from services. Just based on these statistics, we can assume that the services sector in manufacturing is not only profitable right now but will also expand further in the future. Therefore, if you want to see consistent growth in sales and earnings, you must start incorporating services like after-sales support into your business module.

• A chance to expand business

Expansion is one of the best ways to increase profits and expand the business. A company should never just stick to having a single product or service. By doing so, you are confining your business without letting it expand in profits and sales. The perfect way to do that is with after-sale support. For example, you can utilise any additional materials used in your production process and add them to your after-sales repair/maintenance. This way you are able to take advantage of additional materials, reduce waste, and expand your services. This means you are able to provide more services for the benefit of your customers while also expanding your business.

• A chance to improve customer relations

A key component that is the cause of failures in manufacturing is zero customer interaction. Though we make products for our clients, we lose the opportunity for feedback that comes directly from the end consumer. A way to bridge this gap is with aftermarket support. By providing after-sale help directly to the end customer, we are able to make changes to our manufacturing and production. This is the reason why Radiant Electronics & Appliances is one of the largest manufacturers of consumer electronics such as TVs in India.

Even though manufacturing is all about creating the customer's ideal product, it has more to it. By missing out on opportunities such as aftermarket manufacturing support, businesses are losing a great opportunity for profits. If you want to know more about such great opportunities in the manufacturing industry, then visit the Radiant Appliances & Electronics blog now!