While every equipment dealer is unique and has its own challenges, there are also many similarities in the industry. Here are 4 key challenges every equipment dealer faces.
1. Keeping up with the latest technology
Dealers tend to keep using old technology, and this leads to wasted resources:
- Processes that no longer connect
- Internal workflows that don't add up
- Much time needed for daily work
Lost time is the result of all of the above; and time is one of the most expensive resources in this industry. Your focus should be on improved efficiency. Look at the daily processes of ANY department and see how you can make life easier for all your employees and improve decision-making. The software plays a crucial role in this; make sure it is user-friendly, tailored to your type of business, with mobile access and supported by experts in your industry.
2. Minimizing equipment downtime.
When equipment is not operational in the field, it costs a dealer a lot of money. Be sure to track each item and its maintenance needs. Stay on top of preventive maintenance plans and warranties, if applicable. This contributes to:
- Reduced maintenance costs for any property.
- Reduced unscheduled downtime
- Improved decision-making
- Regulatory compliance
- Maximizing the efficiency of objects
"An interesting way for equipment dealers to be distinctive is through service excellence."
3. Successfully manage customer relationships.
Managing customer relationships in a digital world can be tricky. Building good customer relationships is harder than ever, there are simply too many choices. Remember the 80/20 rule, 80% of your business comes from 20% of your most loyal customers. The best way to ensure that you build long-term relationships with your customers is to have up-to-date software. This includes mobile access and real-time information. Only then can you have a much closer relationship with your customers.
4. Standing out from the competition
The quality of equipment has improved greatly in recent years. There are basically no bad brands anymore. As a result, every equipment dealer offers durable equipment. Distinguishing on price is also increasingly difficult. The quality of brands is close together and so is the price. In addition, sales margins are under strong pressure, so there is no room to offer spectacular discounts. An interesting way for equipment dealers to stand out is through service excellence. Excelling in customer service, thus saving costs and increasing customer satisfaction and loyalty. That requires tightly designed service processes, supported by excellent service management software.
Do you recognize these challenges? I can help! I know what's going on within your equipment dealership, and I know how to help you on the road to improvement.
