The Top Five Key Competitive Advantages You Gain by Digitizing Your Aftermarket Parts Business
Advancements in Technology Reveal New Aftermarket Revenue Opportunities
Aftermarket part sales can present significant challenges for many B2B manufacturers, but many leaders recognize that technological advancements have revealed new opportunities to differentiate through aftermarket services. While aftermarket parts typically offer higher margins, they can quickly erode when customers cannot find the exact part they need. With economic uncertainty facing many manufacturers and customers, aftermarket part businesses should continue to be a reliable source of revenue if it’s built for success.
Customers often lack precise information about the spare parts they need. While they might have a general description or a damaged part in hand, they struggle to find an exact match without access to a part number or the original bill of materials (BOM). Trying to identify an exact part becomes a needle in the haystack game that leads to frustration and potentially a lost sale. Some may call your service representatives, costing more time and resources, while others will find a competitor with less friction in the buying experience. The complexities customers face when searching and verifying they have found the correct part before purchasing could damage loyalty and weaken competitiveness.
A successful aftermarket parts business is crucial for ensuring customer satisfaction, differentiating yourself, and capturing low-touch recurring revenue. Implementing a fully digital-first, self-service experience that enables anyone to visually search, find, and buy aftermarket parts helps preserve margins by limiting service calls with an easy-to-use self-service experience that differentiates your brand and builds loyalty.
After speaking with our customers, we compiled the top five competitive advantages they reported since implementing CDS Partable for aftermarket part search and sales.
Here are the top five key competitive advantages you can gain by implementing a digital-first, self-service aftermarket part solution:
1.) AI-Assisted Advanced Parts Search with Exploded Views
Simplify part identification for your customers by incorporating advanced AI-assisted search functionalities. When customers need a replacement part but lack the exact part number or clear identification, they often resort to time-consuming calls and searches. Implementing a solution that utilizes CAD-based exploded views enables customers to visually explore and identify the parts they need while receiving assistance from AI when needed. The digital representation showcases how products are assembled, highlighting the specific individual parts and their relationships within the larger assembly, significantly improving part identification and reducing frustration.
2.) Single Source of Information for All BOMs
Maintaining a single, accurate, and up-to-date source of information for Bills of Materials (BOMs) is essential. Discrepancies in BOMs across different systems and use cases can lead to confusion and inefficiencies. By utilizing a unified BOM management system, you can ensure all departments—sales, engineering, and manufacturing—have access to accurate and consistent information. Streamlined BOM management can enable a cleaner part search process that helps accelerate sales and enhances customer success.
3.) Seamless Integration into E-commerce Platforms
Your customers expect a seamless online buying experience similar to their personal shopping habits. Integrating your aftermarket parts business with a robust e-commerce platform allows customers to easily search, view details, and purchase parts directly from your webshop. The integration streamlines the ordering process, reduces manual intervention, and improves overall customer satisfaction. Platforms like Salesforce Commerce Cloud or Intershop offer powerful solutions for enabling visual representation and direct purchasing of aftermarket parts while giving your customers a robust client portal and buying experience to drive low-touch revenue.
4.) AI-Powered Image Search: Snap a Picture, Find Your Part
Innovate your parts identification process with AI-powered image search. Image search technology, popularized by platforms like Amazon and Google, allows customers to snap a photo of the required part using their smartphone camera and upload it to your solution. The AI engine analyzes the image and recommends the potential matches, significantly reducing the need for manual part number searches. This feature enhances efficiency and provides a modern, user-friendly experience that users have become familiar with in their daily lives.
5.) Integration with Your PLM Solution for Real-Time Parts Data
For optimal management, ensure your aftermarket parts system integrates seamlessly with your existing Product Lifecycle Management (PLM) solution. PLM integrations allow for real-time updates on part availability, engineering changes, and revision history. Consequently, your e-commerce platform and parts search functions reflect the most accurate information, whether customers are repairing old or new machines. PLM integration supports effective lifecycle management, adapting to product changes and evolution.
The Benefits of Implementing Aftermarket Part Strategies that Differentiate Your Business are Clear
Enhancing your aftermarket part business with digital solutions can lead to several benefits, including improved customer satisfaction, increased sales, reduced costs, better inventory management, and enhanced decision-making for your customers and partners. A robust aftermarket parts business should not be considered a luxury but an essential investment.
Don’t let outdated parts management systems hinder your progress. Invest in AI-enabled digital solutions as an investment into your aftermarket part business and experience the rewards of a satisfied customer base and a thriving B2B operation.
