CEDMag.com - July 2012 Articles
Construction Equipment Distribution magazine is published by the Associated Equipment Distributors, a nonprofit trade association founded in 1919, whose membership is primarily comprised of the leading equipment dealerships and rental companies in the U.S. and Canada. AED membership also includes equipment manufacturers and industry-service firms. CED magazine has been published continuously since 1920. Associated Equipment Distributors
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CEDMag.com - July 2012 Articles

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Contact Kim Phelan at (800) 388-0650 ext. 340.


JULY 2012
  • Need a Lift? Selling Rental On the Go With Marissa Lotito
    Sales
    By Daniel C. Brown
    CED rides shotgun with the sales manager of Metrolift in Chicago and winds up with a case study in savvy selling.
    Since emerging from the sudden and severe downturn of 2008, privately-owned Metrolift Inc. has begun an upward turn and is climbing quickly. A key catalyst for the company’s successful business boost is Marissa Lotito, Metrolift’s well-connected and savvy sales manager. We recently spent a day with Lotito, calling on customers, watching her in action – seeking to pick up some secrets to her success.
    [ read more ]
  • Grab On!
    Attachments Buyer’s Guide
    By Kim Phelan
    It’s a wild ride in the equipment industry, and no one knows for sure what’s coming around the corner. But in good times or bad, attachments help dealers make money and make their customers happy.
    Precarious. That’s one way to describe the construction industry in general. It’s better than it was, but no one is extremely confident whether improvement will last, much less increase. And like the rest of the equipment industry, attachment manufacturers appear to be enjoying improved demand compared to the preceding three and four years.
    [ read more ]
  • App Mania
    Internet
    By Joanne Costin
    Growing use of mobile devices drives creation of mobile websites and apps.
    If you aren’t sure how your website displays on a mobile device, you need to find out now. An explosion in the use of mobile devices is changing the way we access the Internet. Analysts predict that by 2014, more people will access the Web via a mobile device than through a computer. The implications are significant. Buyers will look elsewhere if they find your site difficult to navigate on a smart phone. And the stakes are high.
    [ read more ]
  • What Customers Need to Know Is: Are You Listening To Me?
    Contractor Connection
    By Giles Lambertson
    This is a tale of two contractors and the two sales reps from different dealerships who have forged lasting relationships through genuine, demonstrated concern for their customers’ success.
    At a Caterpillar Inc. rollout event in North Carolina this spring, two CAT dealer sales representatives and two of their customers talked about their commercial relationships. In follow-up interviews for CED magazine, the four men elaborated on what it means to partner in the construction industry marketplace. The take-away from the discussions is applicable to any equipment dealer for any manufacturer anywhere.
    [ read more ]
  • Adding Value is What We Do
    From the Chairman
    By Larry Glynn
    Try this exercise in dealership self-worth to remind the team why your company is so special, and not easily duplicated.
    When you get up in the morning, you want to go to work feeling good about what you are going to do today. We as equipment dealers are in the business of buying equipment, parts, supplies and repairing equipment for one price and selling these for more money. Why should our customers pay us the difference? Why do manufacturers use dealers?
    [ read more ]
  • Sales Pros Don't Have Time For Grouchy
    Editor's Note
    By Kim Phelan
    Almost everybody has to fight for what they get – sales reps are fighting for your survival and their own.
    Wisconsin's recall election in June has been gnawing at me, enough so that I began rifling through headlines and commentaries about the state's recent – and quite affirming – decision about Gov. Walker's job performance. But the outcome came at quite a cost, and I'm not even counting the millions of dollars that poured in from around the country, on both sides, to sway this thing. What's sad is that, "The Badger State, one of the friendliest, most neighborly places in the land, has been rubbed raw by endless political conflict," one FoxNews.com story stated. "Voters are grouchy and deeply divided."
    [ read more ]
  • Increasing Market Share is Easier Said Than Done
    On the Numbers
    By Garry Bartecki
    Confront your business performance challenges in a businessonly Performance Group.
    Every year for the last four years we have been expecting resurgence in the construction markets and thus new or increased demand for equipment, parts, service and rental. For some of you the markets have returned and activity is high. For many others, however, things are pretty stagnant with flat equipment and rental demand. Many dealers took the risk of reinvesting in 2012 and are now wishing they hadn’t. I hear that orders are being cancelled or cut back, especially in the rental business. Maybe all that talk about 2012 deals getting pulled into 2011 because of bonus depreciation and a resistance to purchase Tier 4 equipment really materialized, leaving 2012 holding the bag.
    [ read more ]
  • Right-Sizing in Good Times
    Recruitment & Retention
    By Jerry Randecker & Chris Sitter
    Today that might mean upsizing. Keep these people principles at the forefront of all your staffing decisions.
    We recently re-read with interest an article titled, "Right Sizing in Challenging Times" which was written by Jordan-Sitter Associates and published in CED’s November 2008 issue. By that time it was being widely reported that difficult economic times were ahead and the article offered ideas to consider for adjusting the size of your dealership to weather the economic storm. Although the economic environment is still on a bit of a roller coaster, the future is much brighter than it was in 2008. However, "right-sizing" remains a challenge since the current, more positive, economic conditions bring new challenges for AED dealers to face. So let’s review some important issues that you should reflect on as you plan for future growth.
    [ read more ]
  • Set Yourself Apart with Relentless Customer Service
    Aftermarket
    By Ron Slee
    Use the "Demandments" as your guide.
    During the summertime it is sometimes hard to get the attention of those hard working men and women serving your customers. Holidays are starting, children are out of school, and there are more challenges keeping up with the family and home life – and coinciding with all that, it’s typically this time of year when your dealership has more work than there are hours in the day to satisfy. I’m going to use this backdrop to present a challenge for you to go back and review some of the principles of what drives a business, all business. Everything depends on your customer. We all know that. Last month I suggested we had become somewhat complacent in the marketplace. We discussed several things that could be done to break out of that complacency and engage your customers more.
    [ read more ]
  • A Map to the Election Law Minefield
    Washington Insider
    By Christian Klein
    Your campaign contributions can help determine who's calling the shots in Washington, but there are some things you need to know to stay out of trouble.
    If you care about the issues facing the country and your industry it's important that you help decide who's calling the shots on Capitol Hill and in the White House. Voting is one way to do that, writing a campaign check is another. As you wade into Campaign 2012, here are some basic rules to keep you out of trouble: Who can give? All money contributed to federal campaigns must come from individuals who are either U.S. citizens or lawful permanent residents (i.e., "green card" holders). As an individual, you can either contribute to a campaign directly or you can give money to a political action committee (PAC), which collects money from multiple individual donors and distributes those funds to candidates who share the PAC's political philosophy.
    [ read more ]
  • Forum Breaks Its Own Mold, Again
    Inside AED
    New speakers bring zing to Sept. 6-7 agenda with a deep well of knowledge and expertise for senior dealer management.
    If there’s anything that defines the AED/INFOR Executive Forum, it’s that it tries to defy defining – especially if "definition" is code for predictable, sameness or rut. This year, fresh, provocative topics and new speakers headline a program that was custom-designed for issues dealer executives are confronting right now. "I’d like AED member CEOs, presidents, VPs and GMs to expect the unexpected, but also to expect excellence in the line-up this year," said AED Director of Programs Kim Phelan. "Every year, we strive to break the mold from the year before and keep the Forum a new and reinvented meeting. My goal is to listen to what’s on owners’ minds and parlay their challenges or the big question marks of the day into the most informative, stimulating presentations we can possibly design."
    [ read more ]
  • Learn How to Compete Effectively in the Rental Industry
    Groundwork
    AED offers four industry-specific rental self-study courses.
    Rental is one of the toughest front lines in the construction equipment industry. The pace is fast. The selling cycle is short. Competition and rate pressure are fierce. In today’s economy, rental success has become a focus and priority! AED has developed four online self-study courses to give rental managers, coordinators, and branch managers practical and immediate tools to maximize rental results. Each module of the rental management series features comprehensive instruction by Travis Burch, former CEO of Burch-Lowe Inc., a successful Atlantabased dealership. Course materials include a manual containing worksheets and tools to improve your company’s management processes, as well as informative articles.
    [ read more ]
  • Environmental Accountability a Key Risk Factor for Oil and Gas Industry
    Industry Beat
    BDO report identifies regulatory threats for the sector.
    The U.S. oil and gas industry is booming under the vast potential of its shale reserves, but it also faces the increased scrutiny and responsibility that comes with drilling in the public’s backyard. An annual report conducted by BDO USA, LLP, an accounting and consulting organization, found a striking increase in environmentally- focused risks cited by the most influential U.S. industry players. An analysis of the risk factors listed by these companies in their most recent 10-K filings reveals that regulatory and legislative changes remain the top concern, cited by 100 percent of companies. Yet this year, those regulatory risks are tied directly to public anxiety over the environmental ramifications of shale gas extraction.
    [ read more ]
  • Now is the Best Time to Review Your Rental Practices
    Play It Safe
    By Randy Dombrowski
    Don't even think about renting equipment "As Is," plus other considerations to reduce your company's liability
    This article won't transform you into a contract expert, but it will make you aware of improvements you could make in your rental contract and contracting process that will help manage your dealership's risks when renting equipment. Involve qualified legal counsel in reviewing your rental contract and your rental contracting practices. Repeat that review every two years. The insurance industry annually sees a large number of million-dollar losses involving rented equipment.
    [ read more ]
  • Help Stamp Out Budgeting
    Profit Improvement Report
    By Albert D. Bates
    There's a better way to increase your profit.
    For at least 30 years this author has been extolling the virtues of budgeting in improving company performance. I have been wrong all of this time. It is not that budgeting itself is wrong. It is simply that budgeting alone does not seem to improve profitability. Budgeting must be augmented with what will be referred to as a Managerial Profit Plan. Fully implemented, this plan has the potential to help firms dramatically alter their financial results.
    [ read more ]
  • AED Dealer Websites Go Social
    Best Practices
    By Joanne Costin
    The best AED dealer websites add good content and share it across the Internet.
    Do you ever wonder why your competitor comes up first in Google searches, while your site is nowhere to be found? Dealers wanting to rank well in searches on Google, Bing and other search engines have learned that just "being there" is not enough. Static brochure websites are relics in today’s fast-paced, socially connected marketplace. We analyzed nearly 500 AED dealer websites and identified 10 that closely follow industry best practices.
    [ read more ]