Increasing Product Value and Reducing Costs with CORVINA's Servitization Solutions
An Overview of Servitization and How it Can Benefit Your Machine Building Business.
What is Servitization
Servitization is a business model that involves offering services, in addition to traditional products, to customers. In the context of machine building, servitization involves adding new services and capabilities to the machines being sold, beyond just the physical machine itself. These services may include things like remote monitoring, predictive maintenance, and other value-added offerings.
The goal of servitization is to provide customers with a more comprehensive and integrated solution, improving the customer experience and increasing customer loyalty. By embracing servitization, machine builders can differentiate themselves in the market, generate new revenue streams, and build stronger relationships with their customers
CORVINA specializes in helping machine builders adopt a product service approach, which can enhance product value and reduce costs by gaining more control over the use and maintenance of machines.
The Future of Machine Building
Why Machine Builders are Turning to Servitization to Improve Value Proposition and Drive Sales
Enhanced Value Proposition
By bundling additional services like maintenance, consulting, and training with machines, machine builders can offer a more comprehensive solution to their customers, improving their value proposition and creating a competitive advantage.
Increased Revenue and Profitability
By providing a more complete solution, machine builders can drive sales and profitability, attract new customers, and increase repeat business.
Improved Customer Satisfaction
Servitization allows machine builders to gain more control over the use and maintenance of their machines, reducing downtime, and minimizing repair costs. This can lead to improved customer satisfaction and increased loyalty.
Providing services can help machine builders reduce costs by optimizing machine performance, preventing breakdowns, and extending the lifespan of their machines.
The trend of servitization is becoming increasingly popular in many industries, making it a competitive imperative for machine builders to adopt a product service approach in order to stay ahead of the curve and meet the changing needs of their customers.
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Field Guide | Servitization
Learn more about Servitization and Smart Machines.