By C. Stephen Clegg, Guest Blogger — LearningWithoutScars.com
An equipment dealer’s business is driven by Each Customer’s Transactions, Expectations & Experience.
The result of these interactions is responsible for the dealer’s customer retention and purchase frequency.
Their impressions of the experience are simply based on the frequency and recency of the exchange of goods and services between two people. These transactions are represented by 65% Parts, 24% Service and 9% Rental with Equipment new and used only 2%.
Their impressions of the experience are simply based on the frequency and recency of the exchange of goods and services between two people.
Revenues and profits are the result not the driver. 65% 24% 9% 2%
Parts Service Rental Equipment Parts Rental Service Expectations 2%
Equipment Customer/ Employee Experience Equipment Dealer Customer Expectations Are Based on their Prior Transaction Experiences As shown below with 98% of these transactions being Parts, Service and Rental
Revenues and profits are the result not the driver of your customer retention and engagement.
The world is on the cusp of an unprecedented economic transformation, driven by the rapid advancements in Artificial Intelligence (AI) technology. As we stand at the threshold of this new era, it is crucial to understand how AI will revolutionize the very foundation of our economy – the exchange of goods and services. The immense potential of AI is already reshaping economic transactions, improving efficiency, and optimizing resource management.