Justin Hatfield
HECO, Inc.
Do your salespeople ever wish they knew more about their competitors? Do they ever wish they understood our industry better? Today, the best salespeople are ones who keep abreast of a variety of changes going on in the marketplace. At HECO, our salespeople always do their best to try and stay up to date. From emerging technologies, to how to land more clients, to what industries typical EASAns are doing business with are on their radars. This is all valuable information that your salespeople could benefit from, too.
Valuable information
The good news is that all of this information is available from the 2017 industry research study that was conducted by J. Peerbolte & Associates and Indian River Consulting Group and presented at the 2017 and 2018 EASA conventions. The 2017 presentation is titled “Industry Research: Service Center Trends & Future.” The 2018 presentation is titled “EASA Industry Research: Deeper into the Data – What Else We Learned.”
What information in this study could be beneficial to your salespeople?
- What are industries that most EASAns serve? Maybe there are markets that you are not calling on that your salespeople never thought about as a target.
- What services are others providing? Are there services your salespeople could be promoting for you to gain additional business? If not, at least you can understand what other service centers are moving towards and understand what the competition may be doing.
- What percentage of business is new motor sales versus repair? Are there more opportunities to either sell more new motors or repair more motors to move towards what the average EASAn experiences?
- What percentage of motors require a rewind? Wouldn’t it be good for your salespeople to explain that based on a survey performed by EASA, only 30% of motors that come out for repair require rewinding.
- How is the landscape changing in relation to national pricing agreements? Are your salespeople prepared to sell against or sell in combination with these national agreements? Do they even know it’s going on?
- What actions are EASAns taking in order to strengthen customer relationships? This is an obvious one. This can give your salespeople ideas to help them protect the clients you have and grow with additional clients as well!
- How are other motor service centers responding to the Industrial Internet of Things (IIoT)? Would your salespeople care to see how others are responding to these data driven maintenance changes and if you will be left behind?
Constantly changing industry
Our industry is constantly changing. It seems like it is changing faster than ever these days. EASA has an abundance of valuable information that many times doesn’t make it past the management and ownership levels of an organization. We recently watched the 2017 convention presentation by Jerry Peerbolte and Michael Marks that is on EASA’s website during a sales meeting. It provides an in-depth analysis and explanations gleaned from the industry research. Our salespeople indicated that they have never seen any information like that before.
We now plan to include an “industry update” session for our future salespeople. The best part of that is that it’s all included in our EASA membership.
Related Reference and Training Materials
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