For end-users looking to maintain and service machinery, Partful replaces technical documents with a highly appealing interactive 3D model that allows them to see a product from every angle. They can match what they are seeing to their real-life view, pull apart individual components and watch animations showing how it all fits back together. As Partful is a digital platform it can also integrate with other systems, enabling the end-user to access stock and price levels for individual components and order replacement parts there and then.
While this advanced after sales service will make life much easier for the end-user, the impact for the businesses providing it is even greater.
Interactive 3D models like Partful reduce product downtime by speeding up repairs and maintenance – a study by Accenture has shown, when compared to flat 2D images, 3D models can help people complete tasks 50% faster. The platform also enables businesses to gather data on any components that are compromising product reliability and use that intelligence to improve product development.
Above: A 3D model of an Off-Roader
Partful’s digital capabilities and the overall impact on brand perception, however, will also have a significant impact on revenues. This is likely to be felt in three key ways: through enhanced customer loyalty, recommendations and the creation of additional revenue streams.
The ability to provide next-level aftersales customer service helps brands to improve customer loyalty – and increase future sales.
A study by Qualtrics has found that 87% of buyers are likely to repurchase when they rate customer service as very good – compared to only 18% when it is rated very poor. The same study found that when businesses invest in the customer experience, they can expect to see a 70% increase in revenues within three years.
70% increase in revenues within three years - after investing in customer experience.
Better customer service
Meanwhile, a separate study by Ombudsman Services found that 28% of people broke loyalty with a brand after receiving a bad service – it estimated that poor customer service costs UK businesses £37bn every year.
Partful’s digital platform helps product manufacturers provide better customer service in the aftersales market. This white label communications portal can act an extension of the brand experience. It allows brands to answer servicing and repair questions quickly and effectively – helping them to offer advice and nurture brand loyalty in process.
When customers receive a good experience, they are also far more likely to recommend a brand. The Qualtrics study found that 88% would recommend a company when the customer experience was very good. Furthermore, it found that consumers were prepared to pay a 16% premium for a product if the company offered good customer service.
16% premium paid to brands offering good customer service.
A reputation for good customer service can also be a crucial determining factor when people make a purchasing decision. In two separate studies by PwC and KPMG, almost three quarters of respondents said customer experience was a major factor in their choice of supplier.
Partful helps to improve brand reputation, and potential recommendations, in various ways. By helping to reduce product downtime and improve future product development, it will help to increase positive sentiment around the brand. By improving the aftersales customer service experience, it also helps to satisfy customer needs.
Additional revenue stream
Partful also allows businesses to integrate eCommerce platforms, helping them to create a new revenue stream. This is providing access to a lucrative online aftersales market. According to McKinsey, the aftersales market for the automotive sector is worth $760bn per year – almost 20% of the total market.
58% very likely to try a brand’s new product or service immediately, if they have had a good customer experience.
The Qualtrics study found that 58% of consumers would be very likely to try a company’s new product or service immediately if they had a very good customer experience – as opposed to 13% of those who had had a very poor experience.
The Ombudsman Services study also found that, where customers have had a bad experience, around a third will respond by spending less on the brand.
Accumulative impact on revenues
It can be hard to quantify the financial impact of enhanced customer service, as the returns are often felt indirectly. But, with Parftul, there is an opportunity to greatly increase the potential of this impact – providing a means to engage customers, delight them, market and sell to them.