Parts Promotions: One Size Does NOT Fit All!
By Gary Weisbaum
I think we can all agree that business conditions are quickly changing these days. As we talk to industrial dealers across North America, most, if not all, agree that what happened in the dealership today will not be what happens tomorrow. And based on where things are going, I would expect this to continue.
I have noticed as I talk with Parts Managers and Parts Sales Staff that the promotions and special offers created to increase sales and/or awareness of a specific product category are the same for all of the dealership’s customers. There has been some diversification in promoting “All Makes” products on a very limited basis.
While this worked well in the past when all customers were “going strong,” today there are significant differences in client needs, based on what is happening in their businesses. For instance, customers that aren’t doing as well right now that always purchased OEM parts, now need to look at lower cost options, as business is slow and cash it tight. Other customers that are engaged in distribution, supply chain, and other high demand operations might be candidates for a higher priced, more dependable part with a better warranty. Still others, may need a hybrid of the two or something completely different.
With a better understanding of what is going on with each of your current and prospective customers, your parts sales staff can be selling the parts that customers need and want. In addition to solidifying relationships by showing that your dealership is sensitive and aware of their business conditions, it also allows an opportunity to approach conquest customers with an approach their current supplier many not be providing. Clear reasons why “ONE SIZE DOES NOT FIT ALL!”
KEA Advisors can provide critical support to industrial dealers in evaluating their current and future promotional efforts to make sure they align with the changes in each dealer’s marketplace.
Contact me to discuss further, and please join me for our webinar on the topic (registration link below).
