Powersports dealerships and salespeople alike have reaped the benefits of healthy profit margins over the last few years. However, just as the margin pendulum swung deep into seller\u2019s market territory, it\u2019s beginning its backward trajectory into a buyer\u2019s market.<\/p>\n
According to Lightspeed DMS, powersports dealers reported an overall revenue loss of 1.4 percent<\/strong> during the first quarter of 2023, with service showing the only positive trend. The Powersports Business<\/em> Q1 Dealer Survey also reflected increasing concern for growing inventory levels in the face of mounting economic fears. Dealers are split on their outlook for the remainder of the year,<\/strong> with many leaning towards \u201csomewhat worse\u201d to \u201csignificantly worse\u201d as compared to the end of last year. While inflation and pricing continue to worry, inventory issues have eased significantly.<\/p>\n Where does that leave you? It should be a dog whistle to step on the gas and start selling! I don\u2019t mean lowering your prices or launching some gimmick. I mean empowering your sales team to dust off their selling habits,<\/strong> which may have been dormant for the past three years. The days of relying on \u2018pent up demand\u2019 and high margins to make quota are over. The effects of stubbornly high interest rates, lingering concerns about the economy and a potential recession are beginning to show. Your sales team likely needs a refresher course \u2013 at a minimum \u2013 or a complete training upgrade given the increasing transition to a digital sales platform.<\/p>\n Fortunately for powersports dealers, summer is here. It\u2019s the peak powersports sales window for motorcycles, off-road and marine. A \u2018glass-half-full\u2019 level of optimism coupled with an engaged, energized sales staff can go a long way in powering your dealership over any speed bumps that are out of your control. So, let\u2019s start with a booster shot of training to get things going.<\/p>\n Your staff are experts when it comes to the products on your showroom floor. They understand the differences between models, performance trade-offs and required accessories. But how are they engaging with customers online? They may need a refresher on utilizing the new digital tools to maximum effect.<\/p>\n Training comes in many shapes and formats and should be used as a tool to educate, support, and motivate your sales team. Used properly, training is a creative approach that keeps your sales team engaged while reinforcing good habits that drive revenue.<\/strong> By setting clear goals and expectations through training, your sales team can be successful during these challenging times.<\/p>\n Our training team at EFG believes behavior-based training<\/a> is the best approach to delivering proven results. We assess the individual needs of each participant, measure their performance through the various course offerings and follow-up with dealership management to ensure learned behaviors are supported and implemented.<\/p>\nTraining for talent<\/strong><\/h3>\n