A Powersports Reset

Now that 2020 has wrapped, many OEMs are beating the drum about the significant year over year growth they saw last year. However, Mark Sheffield, Strategic Advisor at Woods Indian Motorcycle, and Powersports Consultant Derek Sanders warn we must be cautious of the hype; although dealers benefited greatly from a global recession, the pandemic created some unique market distortions. In this episode, Mark and Derek discuss why the pandemic has been an opportunity for dealers to reset and what they must do to continue to find success moving forward. Show Notes: 00:00:00 00:00:55Host Robert Pandya introduces episode guests Mark Sheffield, Strategic Advisor at Woods Indian Motorcycle, and Derek Sanders, Powersports Consultant.00:00:00 00:01:20Mark shares his background and how he joined the Powersports world.  00:00:00 00:02:45Mark explains why the Powersports industry needs to be cautious of the recent industry hype and the unique market distortions the pandemic created.00:00:00 00:06:00Derek shares his background and how he got into the motorcycle industry as well as the technology sector.00:00:00 00:9:40Derek explains new tactics OEMs and dealers are employing to better serve consumers and what the new buyer needs.00:00:00 00:12:45Derek explains key differences between GenXers and Millennials in terms of their consumer habits.00:00:00 00:14:30Mark explains the importance of responding to digital leads.00:00:00 00:18:30Derek explains why dealers need to focus on digital leads and learn this skillset.00:00:00 00:20:13Mark shares a three-pronged approach in preparing dealers for success.00:00:00 00:22:00Mark explains areas that dealers are generally lacking and missing out on.00:00:00 00:25:10Derek highlights cool companies engaging technology to better customer experience.00:00:00 00:29:30Mark speaks to inventory management in the current era, the sweet spot dealers need to shoot for, and how to find out who in the dealership is carrying the weight leveraging data.00:00:00 00:35:00Derek explains why 2020 was a huge wakeup call for the Powersports industry and why we need to do things differently to ensure we are going to be here in the next five and 10 years.00:00:00 00:37:20Derek and Mark speak to the key training that needs to happen for existing and new sales staff.00:00:00 00:42:15Mark speaks to the importance of fixed operations.00:00:00 00:46:00Derek and Mark each give the OEM and dealer network a piece of advice.00:00:00 00:37:35Robert closes the conversation and reminds everyone to subscribe and get in touch with the producers of Centerstand at [email protected].