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How Right to Repair Leads to New Revenue Streams

right to repair profit center

There’s no question that right to repair stands to decrease profitability and increase risk for Original Equipment Manufacturers (OEMs). Examples include OEMs risking excessive warranty claims as well as safety concerns that could leave companies liable for harm to the end-user if machines and equipment are not properly repaired. Not to mention losing repeat buyers when it becomes easier to repair equipment rather than buy something new to replace it. 

While these concerns are valid, the right technology makes it possible for OEMs to not only mitigate risk, but to add new revenue streams to their business models as well. 

Help Lightning’s AR-enabled remote visual assistance allows companies to reposition the right to repair as a profit center. This form of support translates to experts always available to provide customers with the hands-on direction they need to minimize downtime and assure operator safety. 

OEMs can leverage this high-level engagement as a value-add to service packages and deliver a high quality customer experience that boosts satisfaction and retention. This protects the customers’ right to repair with an advanced technology that improves overall customer experience. Additionally, it generates new revenue streams for OEMs and mitigates risk.

Right to Repair as a Profit Center

It’s expected that right to repair brings with it a decrease in repeat buyers. Companies will not require replacement products or parts from OEMs if they can perform repairs on their own and extend the lifespan of their machines and equipment. Additionally, increased warranty redemption is another area where OEMs potentially risk decreased revenue if repairs are done incorrectly. Companies have little oversight or control when companies repair products on their own.

AR-enabled remote visual assistance addresses these concerns, and repositions them as a way to generate revenue rather than accept profit loss. First, by offering an elevated level of remote support in service packages, the customer will always go to the OEM first to assist with repairs. This will allow the OEM to oversee repairs and ensure they are performed correctly and reduces risk of warranty claims that could be avoided.

Also, remote visual assistance is a way to get the OEM in front of the customer to make a case for purchasing replacement parts directly from the OEM rather than a third-party supplier. Remote visual assistance worked into a service package means that the OEM will always be top of mind for the customer as a trusted source of replacement parts.

Companies offering Help Lightning as part of their service packages provide customers with security knowing that support is available as needed, and will be overseen by an expert. 

How OEMs Can Maintain Quality

A key argument against right to repair is the inability to assure products maintain quality standards established by the OEM. The concern is valid, as customers may replace parts using inferior quality materials and render equipment less effective. With a reduced quality product, OEMs are vulnerable to losing customers and damaging their brand reputation. Help Lighting helps assure OEMs and their customers achieve the shared goal of maintaining quality equipment and machinery. 

Help Lightning is a high-touch form of support that makes it feel as if experts are in the room. AR-enabled video streaming allows both sides of the screen to dynamically engage with equipment in need of repair. The OEMs technicians and engineers can be made available to guide the customer through repairs and ensure they are done correctly. This includes inspection of materials and tools required for repairs, as well as overseeing the actual process.

Features include the ability to reach hands into the screen to point to components and demonstrate how to properly engage machines. Users can also incorporate tools, freeze screens, make annotations, in addition to many more ways to effectively collaborate remotely.

Connect with Help Lightning to Leverage Right to Repair into a Revenue Stream for Your Business

Some companies argue that right to repair could potentially make them lose customers. We’d argue the opposite. Instead, supporting your customer’s right to repair positions you as a customer-centered company. Help Lightning delivers a solid customer experience, with customers secure in the fact that they do not risk excessive downtime or lost revenue because they can confidently and safely repair their own machines and equipment when they need to.

Our team here at Help Lightning will work with you to integrate plans supporting your customers’ right to repair. With our high touch strategic planning process, we will develop a plan that is specific to your company’s needs and objectives.

Click here to connect with our team, demo Help Lightning, and learn how we can support your company in developing new revenue streams and high quality customer experiences.

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