It’s astonishing how many established, multi-million or even billion-dollar giant companies are missing out on enormous post-sale revenue and customer loyalty simply by neglecting a digital business model. They see the transaction, but not the long-term relationship.
I recently saw this firsthand at a major builder company. They’ve successfully built and handed over around 1200 apartments. That’s 1200 high-value customers! Yet, once the keys are handed over, the relationship is completely severed.
The Missed Opportunity
Imagine the revenue and loyalty they are sacrificing:
- A Self-Care App could transform their business from a one-time transaction to a lifetime service provider.
- Apartment owners would pay for regular maintenance, renovation works, modifications, and home appliance installations.
- The company could offer subscription-based services like home security, smart home monitoring, or discounted bulk cleaning services.
These aren’t just extra services; they are a direct line to guaranteed, recurring revenue and a vastly improved customer experience. The sheer volume of repeat business from 1200 homes is staggering.
This Isn’t Just About Builders
This digital blind spot is rampant across many industries:
- Hospitals could offer digital aftercare, appointment booking, and subscription wellness programs through an app, creating stickiness beyond an in-patient stay.
- FMCG (Fast-Moving Consumer Goods) companies could use digital engagement to move beyond retailer data and build direct, personalized relationships with their end consumers, leading to higher brand loyalty and direct-to-consumer sales.
The giants that fail to recognize this are not just standing still; they are actively ceding their future market share to more agile, digital-native competitors. It’s time to stop seeing the handover/checkout as the finish line and start seeing it as the beginning of a far more profitable digital journey.
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