Manufacturing Magazine May 2020 | Page 37

In this stage manufacturers often use Internet of Things ( IoT ) devices to monitor equipment , making it possible to predict , with increasing accuracy , when they will degrade or need repair . Here , to make this a viable offering , your salespeople need to outline how this removes risk and unpredictability for your buyers - switching to an OpEx rather than CapEx model . All of the volatility – and revenue potential – in this instance sits with you , the manufacturer , rather than your customer or service provider . This final stage of servitisation is a big step and represents a whole business shift . As such , your sales team will need to influence and convince a much bigger and wider group of stakeholders , from specialists to the c-suite . Beyond their usual day-to-day contacts , your salespeople will need to understand their prospect ’ s company culture and overall objectives , not only drawing on those subject matter experts but also senior staff to talk to the c-suite or analysts to talk about risk . Sealing the deal with a buying committee requires input from multiple people on the selling side as well .

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The shift to servitisation isn ’ t an easy path to tread and it may yet be a long and winding one for some of you . But it ’ s a journey all manufacturers are now having to make to stay relevant and keep ahead of the competition . No matter where you are currently , you can start shifting your business to take advantage of servitisation and through sales enablement , equip your sales team for success and business growth .

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