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Unlocking Machinery Revenue Opportunities for OEMs Who Embrace the Used Machinery Market with Matt Smith
If you're a machinery OEM you probably would like to ignore used machines. They're a hassle. For customers who own them, you have to provide support as components become obsolete and tribal knowledge dwindles.
When you compete against yourself, that's particularly frustrating, especially when it seems like buyers are just trying to save a few bucks and don't care about the hard work of R&D and improvement that you've invested in.
But buyers may see it differently, and Matt Smith draws on years of deep insight in global used machinery markets to explain why it's an entirely rational (not cheap) decision for some buyers in some situations, and why OEMs may cost themselves years of profitable new machinery and after-market sales by ignoring used machines.
Stop ignoring and scoffing at used machines, and consider incorporating them into your overall offering using some of Matt's recommendations.
Chapters
00:00 Introduction to the Challenge of Self-Competition
04:03 Understanding Global Asset Optimization
10:17 The Dynamics of the Used Machinery Market
19:23 Leveraging Lead Time and Flexibility
24:08 The Role of OEMs in the Used Machinery Market
31:48 Navigating Capital Investment Decisions
40:09 The Importance of Risk Management in Equipment Purchases
46:05 Conclusion and Key Takeaways
Resources
Check out Matt's website and other recommended used machinery resources:
AOTCO Surface Finishing
Asset Industry Resources Mentioned in the Episode:
Investment Recovery Association
EquipNet
BidSpotter
LabX
Surplus Solutions
Surplus Sherpa
LinkedIn: Matt Smith and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @EdMarsh
Show Transcript
Rethinking Our Market Attitudes and Assumptions
Recognizing the potential of used machines as a business benefit rather than a threat is just one example of how we should adjust our market assumptions.
Buyer habits and expectations are changing, just as AI is shifting how buyers search and consider complex decisions.
Read more from Ed's recent paper on these critical changes.
View all episodes
By Ed Marsh ConsultingIf you're a machinery OEM you probably would like to ignore used machines. They're a hassle. For customers who own them, you have to provide support as components become obsolete and tribal knowledge dwindles.
When you compete against yourself, that's particularly frustrating, especially when it seems like buyers are just trying to save a few bucks and don't care about the hard work of R&D and improvement that you've invested in.
But buyers may see it differently, and Matt Smith draws on years of deep insight in global used machinery markets to explain why it's an entirely rational (not cheap) decision for some buyers in some situations, and why OEMs may cost themselves years of profitable new machinery and after-market sales by ignoring used machines.
Stop ignoring and scoffing at used machines, and consider incorporating them into your overall offering using some of Matt's recommendations.
Chapters
00:00 Introduction to the Challenge of Self-Competition
04:03 Understanding Global Asset Optimization
10:17 The Dynamics of the Used Machinery Market
19:23 Leveraging Lead Time and Flexibility
24:08 The Role of OEMs in the Used Machinery Market
31:48 Navigating Capital Investment Decisions
40:09 The Importance of Risk Management in Equipment Purchases
46:05 Conclusion and Key Takeaways
Resources
Check out Matt's website and other recommended used machinery resources:
AOTCO Surface Finishing
Asset Industry Resources Mentioned in the Episode:
Investment Recovery Association
EquipNet
BidSpotter
LabX
Surplus Solutions
Surplus Sherpa
LinkedIn: Matt Smith and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @EdMarsh
Show Transcript
Rethinking Our Market Attitudes and Assumptions
Recognizing the potential of used machines as a business benefit rather than a threat is just one example of how we should adjust our market assumptions.
Buyer habits and expectations are changing, just as AI is shifting how buyers search and consider complex decisions.
Read more from Ed's recent paper on these critical changes.