The Ask the Expert: Remarketing Used Equipment series allows dealers to regularly ask questions and get them answered in real time. It is brought to you courtesy of Iron Solutions.
At Iron Solutions, we provide used equipment valuations, market intelligence and a suite of integrated, cloud-based business systems custom-tailored for the equipment industry. Our proprietary model is built on actual dealer sales transaction data. Learn more…
Q: What have you found to be the best way to work with the marketing department to help in getting the word out there on your used inventories? What works and what doesn't work?
A: The best way to work with the marketing department is to drive content to them. I have worked with some great marketing people — but few have paid attention to equipment inventories because it’s not their job. They have a million things going on and quite frankly, if you are the remarketing manager this is as much your job as it is their’s. You need to be meeting with your marketing people at least twice a month. You need to know budgets and understand strengths and weakness of the your marketing team. Make their job easy and control the creative content to your customer base.
Work with the marketing department and help build campaigns. Using customer prospecting services, like market research provider EDA, to highlight customers with strong equity positions. Last but not least, create a strong online presence to showcase the dealership ‘s equipment. That means clean, crisp pictures and strong story telling descriptions outlining first-hand accounts of the machine in question. Descriptions need to be strong and descriptive so when buyer in Iowa closes his eyes he can see the machine sitting in Nebraska. Every machine in the used equipment eco-system has its place in achieving your dealership’s used inventory turn goals.