In part two of this series, we’re going to take a more in-depth look at specific tactics avionics shops all across the nation can utilize in order to both directly generate revenue as well as realizing significant cost savings at the same time. Let’s dive right in and see how the Marketplace delivers these benefits:
- Fast & Easy to Use – Maintaining a presence on the Marketplace is something your sales team can accomplish in just a few minutes per day, far less than they would spend on nearly any other avenue of prospecting. It’s easy to search open Requests for Quotes by geographic location, by aircraft model or type, or a combination of each. The messaging system is also quick and easy to use, as is the mechanism for submitting your formal bid. Finding and fulfilling RFQs has never been easier.
- Access Nationwide Customer Base – Another major benefit the Marketplace delivers is the ability to effectively market your shop across the entire nation, without the enormous expenses typically associated with outreach on that scale. Most avionics shops’ marketing plans are tied directly to the geographic area most of the customers reside in, due to budgetary constraints – however, this infrastructure is less than ideal for effectively marketing yourself to aircraft owners on the other side of the country. While you may not immediately be price-competitive with local avionics shops; as available installation slots begin to fill, and avionics shops start to be booked to capacity, pricing dynamics, all across the country will likely experience a significant change, perhaps, giving you the edge you need to attract customers from hundreds of miles further away than you would normally be able to do.
- Potential Referral Revenue – There is a lot of room to develop various formats of strategic partnerships with other avionics providers; coverage of a wider family of TSO-approved solutions among yourselves, insulation against booking capacity issues, potential manufacturer incentives, and more. The core element here is that you should find a way to monetize every individual aircraft owner that approaches your shop, if possible. Ideally, you’ll already have the solution for their aircraft and can keep the entire installation project, but if you don’t, you can leverage their interest into a finder’s fee or some type of referral fillip rather than receiving nothing. Depending upon the efficacy of your sales team and the distribution of available solutions in your area, it is entirely possible to generate significant revenue from the facilitation of ADS-B installations that your shop doesn’t perform in-house.
- Choice of TSO-Approved Solutions – The previous three benefits have all been related to demonstrating how the Marketplace enables avionics shops to generate more revenue directly. However, the Marketplace also provides hard data which can potentially influence fundamental strategic choices your organization is making, particularly related to your capital expenditures. Developing or purchasing a TSO-approved solution is an immensely costly endeavor, and can often represent a significant gamble on the part of an individual avionics shop. The Marketplace will help show you what sort of aircraft and equipment is in-demand in your local area and general region, enabling you to potentially avoid costly mistakes when it comes to choosing which limited number of solutions your shop will deploy and service.
In Part 3 of this series, we’re going to take a look at some of the individual online marketing consultation services the platform offers to avionics shops, and explain how they can benefit from them to assist in capturing additional market share, brand and customer loyalty-building efforts, and building a world-class reputation when it comes to expertise and service.
Go to Part 1
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