Predictively Cashing in on Low Hanging Fruit
Listen to the latest episode of Moving Iron Podcast where Jason Hoult and Casey Seymour discuss how dealerships are swimming in data and how to use it for success.
Planning for 2024
Jason Hoult President of Anvil App Works, and Casey Seymour Moving Iron Podcast host, discuss the road ahead for dealers going into 2024.
Casey Seymour opened the podcast with a striking observation: interest rates have surged by nearly 700% since 2019. This increase has significantly impacted the dealer world, ushering in an era where managing these rates is not just a strategy but a necessity.
Seymour discusses what he calls the “Valet Fee” and its implications for allowing equipment to sit on the lot and the cost behind that. The urgency to keep moving equipment to what Hoult calls “0% interest” is crucial in this new era of sales.
Hoult agrees, predicting a shift in the dealer landscape in 2024, with an increased focus on proactive sales opportunities.
He suggests several tactics for dealers:
- Be the First Responder: Reach out promptly to prospects in the market for equipment.
- Deep Product Knowledge: Equip yourself with thorough knowledge to answer customer queries effectively.
- Inventory History Management: Stay updated with your inventory to provide accurate information to potential buyers.
Keeping up with customers is key for dealers to enlist in their sales protocols. “Farmers are running their farms off their phone, and they appreciate the dealers that are doing the same,” he says. Salespeople often manage hundreds of customers. It is foolish for dealers to waste their time calling on each prospect to check in with them. “That’s where a CRM comes in, using a data driven calendar to follow up is where you’ll succeed,” he adds.
Watch or listen to the podcast to learn strategies for:
- Advanced Pipeline Management: Effectively managing your sales pipeline to maximize opportunities.
- Enhanced CRM Capabilities: Leveraging CRM tools to foster better customer relationships.
- Innovative Marketing Tactics: Adopting new marketing strategies to reach and engage potential customers.
- Strategic Forecasting: Using forecasting to anticipate market trends and customer needs.
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