IEDA Podcast Kim Phelan

If you like to talk and sell, then digital marketing is right up your alley, and you probably didn’t even know it. This month, we welcome Laurie Stogniew and Nick Riggs from CONAG Marketing, a division of Bayshore Marketing, founded and owned by Stogniew. Although they give the used equipment sales industry a ranking of 5 or 6 on a scale of 1–10 for digital marketing, they’re optimistic that independent dealers are on an upward trajectory with ever-growing awareness and action toward reaching equipment buyers everywhere.
Experts at developing and designing websites that search engines love, including e-commerce sites, Laurie and Nick are also social media pros who advance their clients’ reputations and brands online.
Some of the most digitally savvy things a dealer can do is keep their website active with new and fresh content, while also harnessing social media and AI to keep customers finding them, rather than the dealer searching for customers. Today, business is “social;” it always was, and customers still want to know “what’s in it for me.” Listen in for tips to greatly expand your business reach and customer relationships.
 
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Produced By: Social Chameleon

Here’s a conversation that reveals a whole demographic of potential customers for independent equipment dealers. Meet Dan Maitland, the fleet manager at Ajax Paving, located in Southwest Florida and a new board member at the Association of Equipment Management Professionals. He spoke on a customer panel at the IEDA Annual Meeting – if you missed him there, here’s your second chance to get acquainted.
 Dan manages a fleet of 600 pieces of equipment and oversees a team of technicians, as well as administrative and scheduling staff – a big job. Like his fellow AEMP members all over the country, he makes the buying, renting and selling decisions for the company’s off-road assets that total $36 million in replacement value.
 In this conversation, he identifies why independent dealers have a great opportunity to serve this population of equipment decision-makers – as well as what fleet managers really need from their equipment sourcing partners.
 How do you get a foot in the door with a big company’s fleet manager? Dan has some suggestions about that, too.  He’s very optimistic that great mutual benefits are going to be unlocked as the members of IEDA and AEMP get on one another’s radar and get to know each other. Find out what’s in it for your business in this friendly and open dialog.
 
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Some experts are predicting that the second half of 2024 through 2026 are going to be strong economic years. This month’s podcast guest, distribution expert Mike Marks,  believes it could be an opportune time to expand through acquisition or merger, or to exit the business profitably, depending on your strategy. He also says there are great advantages available to the independent dealer on both sides of an M&A deal, and in this month’s interview he highlights the benefits to buyers and sellers.
And none of it is as hard as you might think. He strongly recommends spending a couple of hours a week – no more than two bottles of beer in one sitting – educating yourself and understanding the process. He’s already done the math, which he shared during a presentation at the IEDA Annual Meeting Business Program, and we’re happy to share the slides…simply send an email to kim@iedagroup.com.
Mike also goes through key ways to prepare your business for sale to get the maximum price, and how to navigate choosing your own buyer confidentially in a very interconnected industry – or a business you want to buy.
Listen in to get your mind around the journey and how to get started.
 
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Produced By: Social Chameleon

Today’s customers have much more of a “self-serve” mindset in terms of how they prepare and educate themselves long before they talk to you. The Internet has shortened the sales cycle, but it hasn’t removed the valuable role of the sales person. What customers want and need from you is transparency, honesty, and continued insight about their jobs and the right machines.
What you need to figure out is how to harness the Internet so you show up when and where the customer is, providing what they’re looking for without just “shouting into the void.” And don’t overlook your own website!
You may recognize this month’s guest, Clint Lawing. He is a regular (and phenomenal) columnist in the IEDA “Independent” publication – but his day job is associate vice president of digital performance at MediaOne. Clint emphasizes the fundamental importance of having a strategy with digital marketing and letting it guide you in your marketing decisions.
Where do you need to show up online? What do your videos need to be like? How do you put together the words people will read … especially if you’re better at talking than writing? These questions and more are answered in this month’s conversation with a guy who knows his stuff and knows how to share it in plain English.
 
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Produced By: Social Chameleon

To kick things off in 2024, I'm excited to be chatting again with our go-to financial guru, Garry Bartecki. Garry served as CFO for several major equipment industry players and currently writes for Equipment Today. If there's a hot financial topic facing dealers, he's the guy with insight.
Today we're tackling the 800-lb gorilla that dominated 2023 - inflation. Prices may have peaked, but inflation is still raging. Garry and I map out cost control strategies to help dealers effectively navigate these challenges in the year ahead.
We get his take on where the Fed may move next and the ongoing economic impacts still trickling down to construction in Q1. And with fuel and transportation costs going wild in 2023, we'll decode recent oil price signals and other indicator trends to watch that could significantly affect equipment businesses in 2024.
I pick Garry's brain on his outlook for manufacturing, labor, construction and beyond and we discuss what's in store for the industry this election year. And most importantly, Garry drilled down on his top 3 cost management tips for dealers working to tame the inflation beast over the next 12 months. We also cover different pricing strategies and ideas to support customers struggling with the same cost crises.
This is a must-listen episode for any dealer seeking to stay financially fit in 2024!
 
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Listen in to the final podcast episode of 2023 – it’s a lighthearted dialog with IEDA Executive Director Dave Gordon and podcast host Kim Phelan. Hear about the upcoming IEDA Live Auction that kicks off the Annual Meeting on Friday, February 16 at 10 a.m. under the big white tent in front of the Reunion Resort in Kissimmee, Florida. It’ll be a fun and festive time to gather with your IEDA friends while bidding on equipment and exciting donated prizes. Hear how EVERYONE can participate in the auction and come out a winner!
We’re also revealing the 5-star speaker lineup for Annual Meeting, and highlighting all the Return on Investment you receive by attending this growing, relevant, top-notch event for independent dealers. It’s the Not-To-Be-Missed event of the year, held at the Reunion Resort February 16-18.
Dave is the quintessential event-planning master and he’s passionate about making sure every member gets multiple valuable takeaways from attending Annual Meeting, beginning with really fun (and delicious) networking events and solid strategic intelligence you can apply in your business immediately.
Last, you’ll hear Dave talk about the IEDA Foundation and the good industry work it’s accomplishing.
 
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Produced By: Social Chameleon