The new digital marketplacePosted by Mim Monkivitch, 06th June 2017
The way farmers purchase equipment is changing, especially in the used equipment sector. Ten years ago, the average buyer would visit five dealer showrooms when researching and buying a piece of equipment. Today, we’re seeing that number drop to less than two, and that’s being generous.
Brian Sullivan is the Strategy and Insights Manager for farmmachinerysales.com.au, which is part of the carsales network, and the leading online used equipment marketplace in Australia. Brian uses industry research and trends, both domestically and internationally, to provide insights to clients so they can get the most out of advertising and marketing through the carsales network.
Where are buyers buying?
“Farmers are doing their due diligence and researching hundreds of machines online without even having to step foot in a showroom,” Brian says. “This shift in consumption habits means that dealers must also change their marketing strategies in order to stay relevant and move equipment. Having good online listings can open the door to hundreds of new potential customers.”
5 tips when listing used equipment online
- Good quality photos are a MUST: Machinery photos are the first touch point for a customer. They also help build trust and transparency around a machine. Brian recommends a minimum of 20 high quality, clear photos. Having this many photos will also help slow people down and encourage them to spend longer looking at your listing. The longer they stay on your listing, the more likely they are to make an enquiry.
- Well-written descriptions: Know your audience and keep them in mind when writing descriptions for an online listing. Remember that they’re making a business decision, so telling them that the machine is up-to-date with maintenance is more important than telling them about your reputation as a dealer or how long you’ve been selling equipment. Brian recommends the 80/20 rule, limiting personal or dealer information to only 20% of your listing.
- Data, data, data: Farmers are used to analysing data. They want accurate and useful information about their machines. Be sure to state the machine specs in your listing – from hydraulic lift capacity to tyne strength and transport width.
- Nurture the lead: The only way to make a sale is to talk to the customer. Brian says that industry best practice is 30 minutes or less when following up an online enquiry, but understands that this may be difficult for some. No matter what, he says the maximum time to let a lead rest is 24 hours. Brian also noted that it is equally important to have a process in place so that when a lead comes in, you’ll have a map of how and when to conduct your follow up communications.
- Leverage all of your channels: Make sure you have all your bases covered by implementing a digital CRM system that can track and manage your leads. This will ensure timely follow up and assist with relationship building. Make sure the dealership is well-represented across all available channels. Build your eDM list, research online sites and sources for listings, and reach out to your OEM for sales and marketing support. Managing all your assets in the business will help get your products in front of your customers.
Brian is presenting at the TMA Conference in July, delivering data-driven information on what we’re seeing across the industry. He will also be on-hand to answer any questions you may have about selling new or used equipment.
To register for the conference or see more on Brian’s and other presentations, click here.