Industrial Growth Institute

Episode 4 - Markus Rimmele on Servitization & Digitalization of Industrial Support

Growing Aftermarket Sales & Service with Digitization - Markus Rimmele on Industrial Growth Insitute Episode 4
Key Points
Digitalization can help middle-market industrial manufacturers improve the buyer experience and differentiate their offerings.
An adapted mindset and digital approaches can help grow high profit aftermarket parts, service and training revenue.
Digital tools can provide an approach to gain entrance to accounts where incumbent competitors are entrenched.
Whether or not machinery manufacturers like the trend, buyers expect it.
Summary
In this episode, Ed interviews Markus Rimmele, an industrial automation professional. Markus shares his journey from being a field service technician to founding Digitalitum, a company focused on digital transformation in manufacturing.
They discuss tips for mid size industrial manufacturers to boost aftermarket sales and service, and Markus explores the challenges faced by technicians, such as troubleshooting and implementing digital tools, and the importance of change management.
Marcus shares many lessons learned including:
the need for a hybrid approach in digitalization
value of cultural diversity and intellectual elasticity
commitment to helping manufacturers navigate the digital landscape
the concept of digital transformation and how it is a tool to help businesses become more efficient and provide more value to customers
importance of understanding the customer's biggest problems and using digitalization to address those issues
trends driving the need for digitalization in the manufacturing space, such as increasing complexity of machines and a decline in skilled technicians
how digital tools, such as IoT and immersive technologies, can bridge the skills gap and improve maintenance efficiency
value of quality and service in capital equipment purchasing decisions - potential for digital services to create recurring and predictable revenue streams
challenges and misconceptions surrounding digitalization
insights into the commercial opportunities for OEM manufacturers. T
Takeaways
Digital transformation is a tool to help businesses become more efficient and provide more value to customers.
Trends driving the need for digitalization in manufacturing include increasing machine complexity and a decline in skilled technicians.
Digital tools, such as IoT and immersive technologies, can bridge the skills gap and improve maintenance efficiency.
Quality and service are important factors in capital equipment purchasing decisions, and digital services can create recurring and predictable revenue streams.
Challenges in digitalization include resistance to change and concerns about data security, but these can be addressed through proper implementation and cybersecurity measures.
Helpful link - Markus and Ed discuss digitalization and servitization in a webinar conversation https://www.consiliumglobalbusinessadvisors.com/partner-marketing-for-machinery-oems
Learn about my Overall Revenue Effectiveness™ Framework for Industrial Manufacturing Revenue Growth - https://www.consiliumglobalbusinessadvisors.com/overall-revenue-effectiveness-to-help-manufacturers-improve-sales
 
Check out Markus' website - https://digitalitum.com/ 
LinkedIn: Markus Rimmele & Ed Marsh
Twitter: Ed Marsh
Instagram: Markus Rimmele & Ed Marsh
YouTube: Markus Rimmele & Ed Marsh
Show Transcript
Industrial Growth Institute on YouTube
Chapters
00:00 Introduction and Background03:10 Field Service Technician and Lessons Learned05:56 Meeting Revenue Targets and Building Machines on Site10:06 Freelancing and Experience Across Industries12:56 The Importance of a Multilingual and Multicultural Background15:57 Founding Digitalitum and the Digital Toolbox25:05 The Power of LinkedIn and Hybrid Approaches30:00 Cultural Differences and Intellectual Elasticity35:04 Living the Passion through Digitalitum36:04 Defining Digital Transformation37:03 Providing Value to Customers37:26 Overcoming Resistance to Digitalization37:49 Drivers for Digitalization in Manufacturing38:36 Complexity of Machines and Skills Gap40:06 Digital Tools for Machine Maintenance41:34 Implementing Customer Portals42:41 Taking Progressive Steps in Digitalization43:01 Digital Services Platforms43:46 Value of Quality and Service in Capital Equipment Purchasing50:33 Data as the New Gold54:47 Decay in Overall Equipment Effectiveness (OEE)58:57 Recurring and Predictable Revenue Streams01:05:23 Using Digital Services as an Entry Sale01:10:27 Misconceptions about Digitalization01:12:42 Commercial Opportunity for OEM Manufacturers
#AfterMarketSalesAndService #SparePartsSales #CustomerExperience #CapitalEquipmentSales #MachinerySales #MachinerySalesAndService #Installation #Commissioning #PurchasingOfCapitalEquipment #TechnicalService #CustomerService #Aftermarket #B2BSales #IndustrialSales #TechnicalSupport #KnowledgeBase #Digitization #Digitalization #Servitization #MachineSales #AftermarketSales #CustomerLifecycle #OEE #ORE #CustomerTechnicalSupport #TechnicalSales #ServiceEngineer #ApplicationEngineer #MachineInstallation #BreakFix #PreventativeMaintenance #spareparts #MachineServiceHistory #OverallEquipmentEffectiveness #NewLogoSales #GermanQuality #TechnicalSupport #RemoteDiagnostics

Episode 3 - Bob Apollo on Outcome-Centric Sales

In this episode, Ed Marsh interviews Bob Apollo, the founder and chief outcomes officer of Inflection Point Strategy Partners, a UK based sales effectiveness consultancy.
They discuss Bob's career journey, the evolution of B2B sales, accountability in sales, different sales methodologies, and Bob's concept of outcome-centric selling.
Bob emphasizes the importance of focusing on customer outcomes and understanding whether a purchase is inevitable or discretionary. Additionally he highlights:
the need for salespeople to be honest with themselves and eliminate avoidable mistakes in the sales process
complexities of the sales process and the importance of outcome-centric selling
risks of relying on the BANT (Budget Authority Need Timeframe) qualification framework
need for salespeople to adapt their approach based on prospect's familiarity or unfamiliarity of the buying process
Impact IMPACT deal qualification framework and the importance of justifying qualification factors
optimism regarding fixing the sales profession and the role of salespeople in influencing the buying process
Takeaways
Sales organizations should prioritize accountability and create a culture of responsibility.
The evolution of B2B sales has shifted from a product-centric approach to a focus on customer outcomes.
Sales methodologies like Sandler and SPIN Selling can provide valuable frameworks for effective selling.
Outcome-centric selling is an attitude, methodology, and process that emphasizes the importance of understanding and delivering customer outcomes.
Salespeople should focus on eliminating avoidable mistakes and be honest with themselves about their performance and behavior. Cybersecurity issues can significantly impact sales, regardless of the potential revenue from a customer.
The BANT qualification framework may not accurately capture the complexities of the buying process, and salespeople should be aware of the risks involved.
Salespeople should adapt their approach based on the familiarity or unfamiliarity of the buying process for customers.
The Impact IMPACT deal qualification framework provides a more logical flow of qualification, starting with identifying issues and impacts.
Sales managers play a crucial role in qualifying and requalifying opportunities, challenging salespeople to justify their assessments and evidence.
Check out Bob's website - www.Inflexion-Point.com
LinkedIn: Bob Apollo & Ed Marsh
Twitter: Bob Apollo & Ed Marsh
Instagram: Ed Marsh
YouTube: Ed Marsh
Show Transcript
Learn about my Overall Revenue Effectiveness™ Framework for Industrial Manufacturing Revenue Growth
#B2BSales #ComplexSales #BuyingTeam #BuyingJourney #SalesProcess #SalesMethodology #BANT #MEDDIC #MEDDPICC #SpinSelling #SandlerSales

Episode 2 - Sean Hurd on Military Vets in B2B Sales and Business Development

In this conversation, Ed Marsh interviews Sean Hurd, a career Special Operations Soldier,  former Sergeant Major in the U.S. Army, and current veteran advocate at Shift Group.
Sean shares his military background, including his time in the Ranger Regiment and Special Forces, and explains why he transitioned to a career in sales. He highlights the importance of mental toughness and a training mindset in sales.
Sean also discusses the mission and services of Shift Group, which focuses on helping veterans and athletes succeed in sales roles. The conversation emphasizes the attributes and skills that veterans bring to the sales profession.
Sean shares the following specific insights and experiences from his military background and sales career:
the importance of identifying the ideal client and the value of force management training
his daily and weekly workflow, emphasizing the significance of discipline and physical fitness
outworking his colleagues and the importance of tracking metrics in sales
effectiveness of outreach methods like social selling and the need for sales enablement tools
importance of accountability and the role of CRM in sales
challenges of managing a large sales team and the need for effective leadership
concerns about the focus on short-term gains in business and the importance of building long-term relationships
high-level guidance for companies to succeed in sales, including hiring the right people, training and coaching them, and not messing with their money
Takeaways
Military experience, such as the Ranger Regiment and Special Forces, can provide valuable attributes for success in sales, including mental toughness and a training mindset.
Transitioning from the military to sales can be challenging, but it offers opportunities for personal and professional growth.
Sales training and learning from experience are crucial for success in the sales profession.
Shift Group is a company that helps veterans and athletes succeed in sales roles by providing training, coaching, and job placement services. Identify your ideal client and invest in force management training to improve sales effectiveness.
Maintain discipline and a structured daily and weekly workflow to maximize productivity.
Outwork your colleagues and track key metrics to drive sales success.
Utilize social selling and sales enablement tools to enhance outreach and engagement.
romote accountability and use CRM effectively to drive sales performance.
Focus on building long-term relationships and prioritize the success of your sales team.
Shift Group website - www.ShiftGroup.io
LinkedIn: Sean Hurd & Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: Ed Marsh
Show Transcript
Learn about my Overall Revenue Effectiveness™ Framework for Industrial Manufacturing Revenue Growth
#Sales #IndustrialSales #Veteran #BusinessDevelopment #OutboundSales #SalesTraining #Grit #MilitaryTraining #VeteransInBusiness

Episode 1 - Chris Fox on Video for Industrial Marketing

In this episode, Ed Marsh interviews Chris Fox, a content creator and consultant in the manufacturing marketing space. In addition to bourbon, music, and journalism, they discuss the importance of storytelling and creativity in content creation, as well as the value of imperfection and taking risks. Chris shares his experience in creating engaging videos and emphasizes the need to focus on the spirit and story of a company rather than a history lesson. They also explore the role of editing in content creation and the importance of balancing artistic inclinations with deadlines. Additionally, they discuss the best platforms for reaching manufacturing industry contacts and the use of video for aftermarket and customer success. Topics include:
importance of providing technical expertise to customers
value of creating content that addresses their specific needs
impact of AI on video content and the challenges and limitations of using AI-generated video
how companies can determine when to hire their own videographers and the benefits of building a consistent video production schedule
Chris' ideal clients and the qualities that make for successful collaborations
the coolest machines he has shot and the art of telling stories about seemingly mundane industrial products
importance of creating a conversational atmosphere in interviews to make the subject feel comfortable and authentic
the significance of telling the story of a product across its life cycle and the impact it can have on customers
recommendations for extracting written content from video and building partnerships through video marketing
Check out Chris' website - www.TheChrisFox.com
LinkedIn: Chris Fox & Ed Marsh
Twitter: Chris Fox & Ed Marsh
Instagram: Chris Fox & Ed Marsh
YouTube: Chris Fox & Ed Marsh
The Bourbonite (Chris' fun project)
Show Transcript
Learn about my Overall Revenue Effectiveness™ Framework for Industrial Manufacturing Revenue Growth
#Video #ManufacturingMarketing #IndustrialMarketing #Machines #CapitalEquipment #DigitalMarketing #ContentMarketing #VideoMarketing 

Industrial Growth Institute Pilot Episode

Ed Marsh introduces the Industrial Growth Institute podcast that helps B2B industrial manufacturers grow revenue.