The colloquial definition of insanity: Doing the same thing over and over again and expecting different results. Yeah, but what do they know about commercial equipment sales? Well, nothing. But considering the author of the quote was Albert Einstein and he basically was the smartest dude ever—I wouldn’t count him out when applying this to the behavior of commercial equipment sales teams. Here’s what we...
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Let me tell you a true story (with names changed to protect the innocent). Bob is in the market for about $125,000 in new commercial equipment. Part replacement for older equipment and part addition for some new business on the way, this package of equipment is pretty important to the company. Bob loves the industry leading brand. He takes of pride in being an equipment...
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“He who has the money, has the power.” In business, these words resonate loudly. Yet commercial equipment sales teams often spend most of their time talking about everything but…money. Interesting. More and more customers are haggling with price, shopping relentlessly, being indecisive, and delaying decisions. Equipment sales teams often feel a bit out of the driver’s seat in the process. So let’s get you back...
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There is a “person” in your phone that answers your questions. Amazon seems to read your mind when you land on their website. Some cars even parallel park for you. Often people think of companies like Google and Apple when they think of technology innovation, but in business, technology advances extend far beyond the mobile devices and websites. Commercial equipment in all categories offer gains...
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As a business owner of an equipment intensive company, Jim is always on the lookout for new equipment. He has relationships with every dealer in the area and when the time comes to purchase, he’s paid for the equipment in several ways. His father, who started the business, only paid cash. While Jim tried to keep that up for several years, it became hard to...
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Often, commercial equipment manufacturers, distributors, and dealers experience really high turnover among the sales team. While some might posture that this is the nature of sales, some of our customers enjoy long term, committed, successful sales teams. The variables that contribute to their success are probably enumerable, but you’d be surprised how simple one common ingredient for success can be. Recent research indicates that 69%...
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The competitive environment for manufacturers, vendors, and dealers is increasingly intense. As such, companies are seeing more and more pressure on pricing and risk. In every challenge, though, there is opportunity. Innovative thinkers are bringing new approaches to the market. Bundling services, technology, and support with equipment sales has long been a more “solutions” oriented approach, but most aren’t realizing the impact a finance program...
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Intimidate – [in-tim-i-deyt] – v.: To make timid. To fill with fear. Equipment expert and finance expert are not the same thing. Many equipment pros are amazing equipment experts but when the conversation moves out of their comfort zone…money…they’d prefer to let their customers figure it out on their own. Are you afraid to offer financing to your customers? Here are 6 points to consider...
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When was the last time you bought a car primarily because of the tires? Listen, good tires make the ride. But when making a purchase decision, tires probably don’t make the most-wanted list. In financing commercial equipment, there’s a bunch of people kicking tires rather than focusing on what’s most important. In fact, interest rate might be the most over-valued item in financing equipment? Lower...
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Too often, business owners spend significant time working with your team on specs, only to overlook the preparation needed to pay for the equipment. The lack of up-front preparation for the finance process can lead to frustration on both ends of a transaction and a difficult experience. There is a simple solution that can better position your sales team for success. Pre-qualification We are all familiar...
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