September 2017 Sourcebook

Table of Contents

Table of Contents

To the Point

Customer Loyalty is the Secret

By Dave Kanicki posted on September 2, 2017 | Posted in Manufacturer & Dealer Issues

We’ve talked about earning customer and brand loyalty in this space at various times over the past 10 years or so. But, like any good message, it’s worth repeating to remind retailers, like yourself, that you need to work at it.
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Brand Loyalty Part 1: Most Farmers Still Loyal to ‘Their’ Brand

Like the results of the brand loyalty studies conducted in 2011 and 2014, this more recent survey again demonstrates that farmer brand loyalty is alive and well in the ag equipment business — and much of it is built on customer loyalty to the dealer.

By Dave Kanicki posted on September 2, 2017 | Posted in Manufacturer & Dealer Issues, Data & Forecasts, Manufacturer News

Traditionally, farmers are known to be dogged loyal to and identify closely with certain “colors” when it comes to the brand of equipment they purchase. To emphasize the competitive nature of the farm machinery business, not too awfully long ago, it was common to see signs in dealerships that read, “Friends don’t let friends drive red tractors” or “green tractors,” whatever the case may be. It wasn’t at all unusual to hear farmers brag about the superiority of their preferred brand of machinery.
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Brand Loyalty Part 2: Does Farmer Revenue Matter?

Does the level of a farmer’s annual revenue impact his brand preference and decision making when it comes to purchasing new equipment?

By Dave Kanicki posted on September 2, 2017 | Posted in Manufacturer & Dealer Issues, Data & Forecasts, Manufacturer News

The brand loyalty studies that Farm Equipment conducted in 2011 and 2014 were limited to grain farmers in 12 states with annual revenues of $500,000 or more.
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Brand Loyalty Part 3: Farmers & Dealers Differ on the Direction of Brand Loyalty

Most dealers suggest a decrease in manufacturer commitment within their customer base, which can help or hinder business to an unprecedented degree.

By James DeGraff posted on September 2, 2017 | Posted in Manufacturer & Dealer Issues, Data & Forecasts, Manufacturer News

In addition to surveying farmers, dealers were called to share their perceptions on brand loyalty, and similar to Farm Equipment’s 2014 results on the same topic, dealers and farmers disagreed more often than not on the level of customer loyalty to a specific manufacturer.
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Brand Loyalty Part 4: How the Major Ag Equipment Makers Fared in the Brand Loyalty Study

By Dave Kanicki posted on September 2, 2017 | Posted in Manufacturer & Dealer Issues

If 75% of the farmers who responded to Farm Equipment’s 2017 Brand Loyalty survey consider themselves loyal to their preferred brand of ag machinery, how do the individual brands score with the farmers who prefer a particular brand of machine?
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Snapshot of Pay & Compensation in U.S. Equipment Dealerships

EDA’s latest report — conducted every 2 years — provides a benchmark-type view into dealership compensation, commissions and benefits. This article highlights a sampling of the positions of interest to dealership managers.

By Farm Equipment Staff posted on September 2, 2017 | Posted in Data & Forecasts, Operations & Finance, Department Management

The Equipment Dealers Assn.’s (EDA) Compensation & Benefits Survey questionnaire was revised in 2016 to include wage data relative to office/personnel staff, sales, parts and service departments. In total, more than 30 different job descriptions were analyzed in the survey report.
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People & Profits

Do You Know Your Carrying Costs?

By George Russell posted on September 2, 2017 | Posted in Best Practices, Operations & Finance

As a retailer, you must have inventory. But do you know the costs of holding machines and parts in stock? In my experience, most farm equipment dealers don’t know the hidden costs of carrying inventory — the number can be difficult to determine and most guesses are way too low.
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Ahead of the Curve

More Combine Automation, Better Cabs in 2018

By Dan Crummett posted on September 2, 2017 | Posted in Product Innovations & Introductions

More automation, improved operator comfort and upgraded feeding and durability on front end systems marks 2018’s new-model year headlines for combine technology.
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Ask the Expert

Where Does Inventory Management Start?

By Casey Seymour posted on September 2, 2017 | Posted in Used Equipment Remarketing

Inventory management has become extremely important for larger dealer groups with tens of millions of dollars in inventory and millions of dollars at risk. But even for smaller dealerships where the dollars at stake are smaller, inventory management is still vital.
Read More
Featured Articles

Featured Articles

Brand Loyalty Part 1: Most Farmers Still Loyal to ‘Their’ Brand

Like the results of the brand loyalty studies conducted in 2011 and 2014, this more recent survey again demonstrates that farmer brand loyalty is alive and well in the ag equipment business — and much of it is built on customer loyalty to the dealer.

By Dave Kanicki posted on September 2, 2017 | Posted in Manufacturer & Dealer Issues, Data & Forecasts, Manufacturer News

Traditionally, farmers are known to be dogged loyal to and identify closely with certain “colors” when it comes to the brand of equipment they purchase. To emphasize the competitive nature of the farm machinery business, not too awfully long ago, it was common to see signs in dealerships that read, “Friends don’t let friends drive red tractors” or “green tractors,” whatever the case may be. It wasn’t at all unusual to hear farmers brag about the superiority of their preferred brand of machinery.
Read More

Snapshot of Pay & Compensation in U.S. Equipment Dealerships

EDA’s latest report — conducted every 2 years — provides a benchmark-type view into dealership compensation, commissions and benefits. This article highlights a sampling of the positions of interest to dealership managers.

By Farm Equipment Staff posted on September 2, 2017 | Posted in Data & Forecasts, Operations & Finance, Department Management

The Equipment Dealers Assn.’s (EDA) Compensation & Benefits Survey questionnaire was revised in 2016 to include wage data relative to office/personnel staff, sales, parts and service departments. In total, more than 30 different job descriptions were analyzed in the survey report.
Read More

Ask the Expert

Where Does Inventory Management Start?

By Casey Seymour posted on September 2, 2017 | Posted in Used Equipment Remarketing

Inventory management has become extremely important for larger dealer groups with tens of millions of dollars in inventory and millions of dollars at risk. But even for smaller dealerships where the dollars at stake are smaller, inventory management is still vital.
Read More
Online Extras

Online Extras

Brand Loyalty Part 4: How the Major Ag Equipment Makers Fared in the Brand Loyalty Study

By Dave Kanicki posted on September 2, 2017 | Posted in Manufacturer & Dealer Issues

If 75% of the farmers who responded to Farm Equipment’s 2017 Brand Loyalty survey consider themselves loyal to their preferred brand of ag machinery, how do the individual brands score with the farmers who prefer a particular brand of machine?
Read More

Farm Equipment

View Archived Issues

September 2017 Sourcebook

Table of Contents

Customer Loyalty is the Secret

Brand Loyalty Part 1: Most Farmers Still Loyal to ‘Their’ Brand

Brand Loyalty Part 2: Does Farmer Revenue Matter?

Brand Loyalty Part 3: Farmers & Dealers Differ on the Direction of Brand Loyalty

Brand Loyalty Part 4: How the Major Ag Equipment Makers Fared in the Brand Loyalty Study

Snapshot of Pay & Compensation in U.S. Equipment Dealerships

Do You Know Your Carrying Costs?

More Combine Automation, Better Cabs in 2018

Where Does Inventory Management Start?

Featured Articles

Brand Loyalty Part 1: Most Farmers Still Loyal to ‘Their’ Brand

Snapshot of Pay & Compensation in U.S. Equipment Dealerships

Where Does Inventory Management Start?

Online Extras

Brand Loyalty Part 4: How the Major Ag Equipment Makers Fared in the Brand Loyalty Study

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