Team SI

What is Your Marketing Strategy for the Aftermarket?

Fiscal year 2019 was all about selling new equipment, even to the point of taking a loss at the dealer level just to gain market share. We applaud the entrepreneurs who heeded to the cause, but we are leaving the most profitable departments off of our radar: parts and service.

Tim Whitley, CEO and founder of Team SI EQ, grew up in his mother's dealership. He knows that you may lose .1 to 2.0 percent of net profit on your P&L at the end of the year by selling only equipment.

That is why his mom had a vibrant rental operation, parts department and a service department. Those are the departments that gave his family the luxury to go on vacation before harvest and planting seasons.

But how do you create a client retention strategy that keeps your current clients engaged and happy through online marketing?

In the automotive industry, 86% of regular maintenance customers return to buy another vehicle. In the equipment industry, we know that the aftermarket game is a game of decay. Starting when a piece of equipment is no longer in warranty to when it is 10- to 20-years-old, equipment dealers  may no longer see those customers as they choose to order their parts online and fix their equipment on their farms. However, we also know this is a multi-billion dollar industry that we are missing out on.

In June 2019, we asked 21 dealers questions on how they achieve success in the aftermarket arena. To our surprise, they didn’t really have a strategy.

That’s why we decided to invent “Retention Ramp” and provide a mapped-out plan for equipment dealers to target their aftermarket consumers.

Approximately 95% of our respondents said the aftermarket is an important sector for their business goals and yet only 52% of them replied that they didn’t have a way of tracking customer satisfaction in the aftermarket arena.

When Team SI asked, “How do you retain customers after selling a piece of equipment to transition them from purchasing to the aftermarket?” or “What channel/venue have you seen the most success in for customer retention for parts or services?”, the responses were mixed and dealers didn't feel like they had a clear strategy.

40% of dealers said they only contact their customers one to four times a year, 10% said “only one time approximately 14 days after delivery” of a new piece of equipment and another 10% said once a month.

Team SI EQ wants to work to increase the 10% who said they contact their customers once a month because we see a ton of opportunity in that sector. We also know dealers don’t necessarily have the time to do that, so we knew we would have to automate that ability with a program that we invented called Retention Ramp.

This is an opportunity to leverage personalization. Let’s say some of your consumers have a two- to a five-year piece of equipment. With Retention Ramp, you have the ability to target ONLY THOSE PEOPLE with display, video, social media, and email marketing. If they have owned a piece of equipment for 10 to 20 years, ONLY THOSE PEOPLE will see a different message through your display, video, social media and email marketing campaigns.

Think of this as drip marketing, a term you may have heard.

By providing these meaningful and personalized experiences, both offline and online, you can maximize customer lifetime value, procure new business through referrals and boost customer retention. Just like you target people for new equipment sales, you can implement a similar strategy with your current customers. To do this, you have to know and understand the relationship between customer behavior and data mining, which Team SI’s product Retention Ramp provides. Without the ability to properly extract and process information, the ability to understand customer behavior will be flawed online. It is all about hitting the right people at the right time using the right frequency. Not everyone needs to see the same message about your equipment, especially in the aftermarket world.

Retention Ramp gives your dealership a way to fix this — a plan to increase in the aftermarket space versus just sending your customers direct mail. Plus, we know if we can get them back in the aftermarket, the likelihood of them purchasing their next piece of equipment increases incredibly.

So, before you sign anything for your 2020 marketing strategy, set up a meeting with us. You will want to hear the details of Retention Ramp.

Get more information from Team SI

Solutions for the Agricultural Dealer & Manufacturer

  • Explore what we have to offer:
    • Nurture by Team SI
      • Nurture brings all online leads into a single, easy-to-use platform where your sales team can easily organize and keep track of leads each day. At the same time, it automates email communication, follow-ups, and customer touchpoints. Complete the gap of understanding which leads are nurtured into sales and determine your marketing to sales ROI.

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    • New Equipment Sales
      • Targeting farmers and small ag consumers is one of the most effective things Team SI does. But, we decided to get better in 2020 with even more precision. When you click in this section, you will see all of the segments that have the ability to be on all of their connected devices. It will be much easier going forward with targeting the RIGHT person with the RIGHT frequency at the RIGHT time.

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    • Used Equipment Sales
      • With used equipment comes the ability to “break out” from traditional marketing tactics. We can successfully reduce your aged inventory numbers with services like Facebook Marketplace and Dynamic Search Ads.

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    • Construction Equipment Sales
      • To those having trouble believing there's a customer journey with Compact Construction Equipment, there were 2,728,753 searches in Google for Compact Construction Equipment in one quarter of 2020 ALONE. Team SI generated 3,450 calls for dealers by being present within their customer journey as they shop online.

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    • Recruitment: Technicians & Sales Staff
      • In FY20, Team SI provided more than 1,000 applications to our dealers for technicians. However, with co-op eligibility opened up for other positions, Team SI has begun experimenting with promoting a broad range of positions, including management, sales, delivery drivers, and parts specialist recruitment campaigns.

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    • About Team SIEQ
      • When one of our customers is with us for years, that relationship expands into inventing the future. Come invent the future with us. And see how we have done it with other dealerships by learning more about us.

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    • Retention Ramp: Aftermarket Solutions
      • Since 2016, Team SI has been preaching the importance of regaining your profit margin inside of the Aftermarket environment. COVID-19 created an overall awareness of how your consumers are searching for parts/service online. It is time to accelerate your growth to match the demand that will not go away after COVID-19.

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    • Element: Dealer Website Platform
      • Engineered for the forward-looking dealer and ever-growing mobile consumer, the Element Web Platform delivers every day with up-to-the-minute analytics and first-class service. Designed with conversion-first behavioral data, this clean, innovative interface drives customers to take action. Constantly monitored and improved daily, Element keeps dealers ahead of the game and above the competition.

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    • Organic Search Results
      • Team SI has been performing SEO tactics before they were cool in the Agricultural Industry. We first started in the most competitive environments ever: automotive and healthcare. Everyone wants to rank higher in organic search. Our SEO tactics combined with our SEM strategy allow you to take over the first page of search engines.

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    • Mergers and Acquisitions
      • We know how stressful it is to go through a major reorganization and merger. There are so many items on the to-do list that some of the most basic items that are overlooked end up becoming the most important to the customer. We've successfully marketed 8 different mergers and acquisitions just in the past couple years and we're ready to help with yours.

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    • Advanced Market Share Analysis
      • With Team SI’s advanced market share analysis service, receive visualized market share reports each month along with strategy consultations and marketing correlation analysis. Learn how your marketing can tie-in and influence your market share efforts.

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    • Social Media Management
      • Social Media engagement and social reputation management for your customer base is very important to a TraDigital strategy. Be actively engaged with your audience and deliver the content they want to see with our social media team's expertise.

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    • Co-Op & Billing Process
      • Pre-approvals and claims are a complicated, time-consuming process that is vital to getting you reimbursed quickly and for the correct amount. We have an entire team dedicated to this process at no cost to you.

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