Free Resource: The Practical Playbook For Service Income Growth
Today will be a deep dive into the final of the three core strategies to drive Sustainable Service Income Growth (SSIG):
- Improve Contract Retention
- Increase Contract GP
- Grow New Contract Sales
Grow New Contract Sales
Differentiation is the driving force behind sales growth. By introducing prospective clients to the MEASURABLE benefits of Predictive Maintenance, sales teams can teach customers what they should expect from a PM investment and change their buying criteria.
Let’s face it: Over time, selling PM has increasingly become a race to the bottom. With many contractors continuing to compete on reputation and old-school promises, the value proposition put forth is undifferentiated and, often, invisible to prospects. That leaves nothing much left to compete on but price, and no one likes selling a commodity.
Predictive Maintenance technology can be used to deliver a higher level of service and get away from the current paradigm with an unmatched value proposition. Here’s how we are integrating Predictive Maintenance into a typical sales process as we take our contractors to market:
- First meeting (Financial buyer? Qualify) - Understand pain points and introduce Predictive Maintenance benefits. If qualified, get commitment to conduct building operations assessment and second meeting.
- Survey - Collect existing equipment and billing data to build a proposal.
- Second Meeting (Trial Close) - Present proposal incorporating Predictive Maintenance
The First Meeting: Introducing Predictive Maintenance
1-Page Sales Prop On Predictive Maintenance. Click image to view PDF
Let’s bring this out of the theoretical and right down to boots-on-the-ground tactics with a sales prop that can be used to drive a conversation on Predictive Maintenance in the first meeting with a prospect.
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This will provide a glimpse into how we’re training sales guys to go to market with nClarity.
Section 1: The 3-Pillar Value Prop
Once you’ve determined you have a “value buyer” (someone willing to evaluate the financial impact of their PM investment), it’s time to introduce the novelty of your approach to service delivery.
This section outlines the 3 pillars of differentiation with a Predictive Maintenance Platform. Here’s what your sales guy might say:
- We’re going to drive measurable reduction in your operating cost by getting on top of your energy consumption and minimizing the number of emergency repairs.
- We’re going to optimize your building assets by maximizing the lifespan of your aging equipment and using the data we collect to build an asset plan with you.
- We’re going to prevent costly operational disruptions by preventing downstream equipment failures with 24/7 monitoring and early warning alerts.
Right off the bat, you set yourself almost entirely apart from what 99% of other mechanical contractors are currently bringing to the table. While this won’t be the first time they’ve heard these types of claims, the difference is how you will substantiate them…
Section 2: The 3-Step System
In this section, you’ll walk the prospect through how the Predictive Maintenance Model Works.
- We start with real-time data collection on all or a select number of critical machines. We pull machine data every minute, which is the equivalent of 525,600 equipment inspections per year (e.g. compared to 4 truck rolls).
- Next, we feed that into our Service Operations Analytics platform, where we can predict future sources of potential failure and then dispatch intelligently.
- Finally, we will perform Virtual Services on your equipment by using those 500k+ data points on every critical parameter, tracking changes over time and pre-prioritizing machines before we dispatch for a PM so we can maximize our impact.
Section 3: The Service Plan Buffet
This final section is an opportunity to demonstrate the flexibility, accountability, and financial benefit you can provide your prospect with Predictive Maintenance. You can use these powerful value propositions to justify a longer-term contract commitment:
To commit to generating these types of benefits we will need to invest time to assess your facility and current budgets enabling our team to assemble a financially based proposal which we will present in our second meeting.
Drive More Growth & Profitability With nClarity
Sales teams: It’s time to begin transitioning to a truly differentiated model. Work with Service Operations to integrate Predictive Maintenance technology into your current service model. You will deliver far more MEASURABLE value to your client every year while growing your service base.
If you want to learn more about how the nClarity Predictive Maintenance Platform can drive growth and profitability in your business, you can schedule a 15-minute discovery session with our team here.