Dealers lament about the struggles of keeping salespeople focused on moving used equipment rather than just the shiny new units. A sure way to light a fire under your sales team is with compensation plans designed specifically to move used equipment — where the biggest impact exists. From withholding commission until a trade is sold to attaching bonuses to the used units, compensation plans tied to used equipment vary greatly — all with their own pros and cons.
The U.S. farm machinery industry is closely monitored by Wall Street, resulting in a vast array
of information on the industry and where it is headed. We know Wall Street’s perceptions of
the industry counts. Like it or not, Wall Street influences decisions in Moline, Ill., Racine,
Wis., and Duluth, Ga., that ultimately impact your business as dealers as well.
A salesperson takes a used unit in on trade. Now what? If you don’t have a plan for what happens next — starting that same day —
you’re already losing. Experts say having a detailed plan — with accountability — on how quickly the unit is cleaned up and serviced,
photographed, listed, etc., will do wonders for inventory turns. During this dealer-to-dealer panel, 4 seasoned dealers will share their internal
systems to keep attention on traded equipment and get it back out into the market ASAP.
As the industry attempts to leverage best-in-class used remarketing practices to today’s marketing technologies, a special session was added to this year’s Dealership Minds Summit — at dealers’ request.
After networking over cocktails and during the sit-down dinner, we’re bringing you yet another added bonus session that examines the future of the used equipment trades from early-adopter models in other industries — those that in short time will infiltrate the farm equipment industry.
Lessiter Media President Mike Lessiter take a moment to recognize the companies who generously helped Farm Equipment sponsor the Dealership Minds Summit.
With prognosticators continuing to forecast lower wholegood sales throughout 2017, and no significant uptick in such sales before 2019, it is imperative that dealers intent on surviving this protracted downturn rethink their view of the wholegoods department. Impacting this transformation will be the fact that most of the manufacturers, if not all of the majors, will be putting pressure on their dealer organization to significantly increase dealership market share, says Dr. Jim Weber.
Correctly valuing used equipment is Job 1, and while there’s no silver bullet, you can increase your odds and limit those deals where you’ve been “bitten too hard” by following a disciplined, data-backed approach. During this authoritative panel discussion, 3 experienced dealers from different regions of the U.S. share the process they use to determine the best value for used equipment to get it sold.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
Montag is the industry’s innovative leader for precise, accurate metering of fertilizer, seed and other nutrients. The Montag system has become the standard for deep banding of fertilizer. Montag is also pioneering the technology for cover crop seed application. The new Cover Crop+ is able to meter the smallest seed, and can be mounted to tillage implements, combines, plus Hagie sprayers and detasselers.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.