Powersports Business Decemeber 2024 | Page 14

14 • December 2024 • Powersports Business

SOLUTIONS www . PowersportsBusiness . com

The secret weapons of thriving dealerships

In the powersports industry , there are two activities that determine your dealership ' s success : innovation and marketing .
Many other tasks in your dealership can SIMON MILESTONE and should be delegated or outsourced where possible . As the owner , time is one of your most valuable resources , and how you use it directly affects the growth and profitability of your business .
By focusing your energy on high-impact activities like innovation and marketing , you ' re investing in the future of your dealership . These areas require your strategic vision and creativity — things no one else can bring to your business .
Innovation and marketing are what separate thriving dealerships from those that merely survive , and your ability to lead in these areas will determine how well your business can compete , grow and succeed .
INNOVATION IN YOUR POWERSPORTS DEALERSHIP
When I say “ innovation ,” I ’ m not talking about reinventing the wheel . In fact , taking big risks with completely new ideas can often be expensive and time-consuming — especially in a highly competitive market like powersports .
Instead , focus on improving what ’ s already working . This could be adopting a unique sales process , offering flexible financing options or creating a more seamless onlineto-showroom experience for customers .
In powersports , innovation could also mean standing out by offering value-added services such as enhanced service plans , personalized riding gear packages or delivering a superior customer experience from the test ride to after-sales service . For example , you might provide a hassle-free home delivery option or a customer loyalty program that builds long-term relationships .
Innovation is simply about differentiating yourself from competition . When customers come to your dealership , they should see that you ' re offering something unique — whether it ’ s how the unit is presented , the way you deliver your service or even the kind of warranty or perks that come with it . It ’ s these elements that prevent you from competing solely on price , which is a race to the bottom no one wants to win .
WHY MARKETING IS YOUR LIFELINE No matter how great your inventory or customer service is , none of it will matter if your marketing falls short . History is full of examples of superior products that failed simply because no one knew about them , and the same applies to powersports . If no one is paying attention to your dealership , your units will stay parked on the lot .
I often hear dealers say , “ We ’ ve got the best selection of ATVs , UTVs and motorcycles in the region ,” or “ We offer the most competitive financing packages in town .” While that is fantastic , I always follow up with the question , “ When does a prospect find out you have the best inventory and financing ?” Usually , the answer is , “ Only after they ’ ve visited the dealership or made a purchase .”
That ’ s where marketing comes in . It ’ s your job to make sure potential customers know about your dealership before they even think of buying . Your marketing needs to make them believe that your dealership is the go-to place for all their powersports needs , from off-road adventures to weekend cruises .
CRAFTING YOUR MARKETING PLAN In powersports , a strong marketing plan is your roadmap . It tells you exactly what to do at each stage of the buyer ' s journey , from the moment someone shows interest online to the point they step into your dealership or click “ Buy Now .”
Whether it ' s investing in digital advertising , showcasing customer reviews , running seasonal promotions or leveraging social media to highlight community events , a clear marketing strategy ensures you ’ re always one step ahead in connecting with your audience .
INNOVATE AND MARKET YOUR WAY TO SUCCESS
Having a great selection of powersports vehicles is critical for keeping your customers happy , but to get them in the door , you need to be a marketing powerhouse . If you ' re not already an excellent marketer , now ’ s the time to develop this crucial skill .
As a powersports dealer , your ability to focus on and excel in these two areas — innovation and marketing — will determine the trajectory of your business . By continuously improving your offerings and staying visible in the market , you ensure that your dealership not only survives but thrives in a competitive and ever-evolving industry .
Simon Milestone is the founder and president of Dealer Academy , an online community for growth-focused dealerships . He grew up in the exciting environment of a Powersports , Marine , Trailer , and OPE dealership . A business his family owned for 39 years .

How AI is driving a more sustainable future for supply chains

BY ERIC LINXWILER CONTRIBUTING WRITER
The retail sector continues to face mounting pressure to meet higher standards of social and environmental responsibility . Consumers have grown increasingly clear about their preferences for sustainability and they are putting their money where their mouths are .
A new study found that more than 80 percent of consumers are willing to pay more for sustainably produced goods , which is especially notable at a time when shoppers are tightening their belts amid inflation and higher costs of living . Some consumers are even willing to pay a premium of 9.7 percent more for products that meet higher environmental standards , the study found .
AI ’ S ROLE IN THE SUPPLY CHAIN Companies are focusing on improving data management systems and incorporating artificial intelligence , with 58 percent of organizations reporting they plan to improve ESG data collection with AI . It ’ s easy to see why — this technology has already proven extremely efficient in its ability to simplify and automate data collection and compliance processes . AI is rapidly becoming a critical component of the drive toward sustainability as tightening global regulations have made it increasingly difficult to maintain compliance and efficiency without sophisticated digital systems .
As AI evolves , it ' s poised to take on an outsized role in supply chain operations . Future applications are on track to extend into autonomous decision-making where AI systems will not only predict but also make real-time adjustments to supply chains without human intervention . Advanced AI is likely to manage most end-to-end supply chain processes , from raw material acquisition through to customer delivery . This deeper integration promises
to transform traditional supply chain models into dynamic , predictive networks that can more adeptly respond to global challenges and market fluctuations while ensuring sustainability .
Brands and retailers are understandably eager to leverage AI in their supply chains , but in truth , many have not yet created the digital infrastructure to do so . One major obstacle preventing businesses from realizing AI ’ s potential is the lack of organized , centralized , real-time data . To overcome this , companies need to start creating a central repository of supply chain data at the PO , SKU and factory levels .
The foundation for optimizing the benefits of AI for any organization lies in the ability to interconnect thousands of proprietary data points from multiple data sets across your enterprise . That requires aggregating all data from early-stage planning through the creation of product specifications , onto sourcing , costing and logistics , and including detailed information on all suppliers along the supply chain up to the nth tier . It ’ s only once businesses have established effective data management that they can begin unlocking AI ' s full potential .
BUILDING THE DATA FOUNDATION FOR AI
Digitalizing with a multi-enterprise platform ensures that data is current , accurate and accessible , setting the foundation for leveraging AI . These platforms provide real-time supply chain visibility , allowing businesses to monitor their supply chains continuously ,
identify potential issues before they escalate and make informed decisions based on accurate , up-to-date information . Establishing this robust digital infrastructure is the key to equipping AI with the data it needs for predictive analytics and automated decisionmaking . The right multi-enterprise platform is already deploying AI in innovative ways , and its capabilities are continually expanding . Its recently launched AI-powered chain of custody tools significantly enhances traceability by automating documentary verification and documenting the chain of custody of all materials .
This AI toolset proactively assesses compliance risks and ensures that every link in the supply chain meets your company ’ s standards of sustainability and prepares all chain of custody documents necessary to comply with global ESG regulations . By automatically scanning and vetting all documents against multiple databases of blacklisted entities and identifying gaps or missing documentation before shipping , this AI dramatically simplifies compliance with global ESG laws like the Uyghur Forced Labor Prevention Act .
Find a platform that utilizes AI to reimagine quality management . For example , AIpowered PO Line Risk Rating functionality optimizes quality inspections by leveraging artificial intelligence to analyze thousands of data points around risk factors such as product type , materials used and country of origin , assigning a percentage risk score to each purchase order line . These capabilities allow businesses to proactively identify and
address high-risk PO product lines so they can prioritize quality inspections around high-risk items , reducing inspection costs while increasing product quality .
A multi-enterprise platform serves as an intelligent connector of data from ERP systems , supply chain partners , NGOs and sustainability databases , offering brands and retailers a unified view of their supply chain while tying external data to specific SKUs and purchase orders .
The platform ’ s supply chain maps illustrate the relationships between vendors and factories , and even visualize key performance and scorecard metrics such as audit results , certifications and risk levels so compliance managers can see at a glance any vulnerabilities in their supplier base .
PREPARING FOR TOMORROW By centralizing key supplier data , this technology is also instrumental in helping businesses meet their requirements , including their Scope 3 carbon reduction goals , allowing them to collect and assess emissions data , efficiently implement improvement plans and track and measure their progress .
As retail looks toward a more sustainable future , AI and advanced data management systems will be essential for creating responsive , responsible supply chains that can adapt to regulatory changes and market demands . By investing in the right digital systems , retailers can future-proof their operations , ensuring they are not only meeting today ’ s standards but are also prepared for the challenges and opportunities of tomorrow .
Eric Linxwiler is senior vice president of Trade- Beyond . He has over 30 years of experience in enterprise software and cloud-based platform companies with a specialty in supply chain optimization and workflow management ..