What’s the first thing you think of when you need to move older inventory to make way for the latest and greatest? For a lot of equipment dealers, it’s the “D” word: discounting.
It’s a valid tactic. But it may be an unnecessary one. Here are 5 things to try first:
- Bundle – Including no-charge or reduced-price supplies, service contracts, and other goodies can do a lot to improve the value proposition of older equipment. Even better if your financing covers the whole bundle, giving your customer a way to get an expanded solution for one affordable monthly payment. Sure, there’s a cost involved in including these extras, but it can be quite a bit less than the cost of discounting your equipment
- Unbundle – If older equipment is already part of a bundle, making it a standalone buy can make it a better buy for some customers
- Defer – Special financing with deferred payments can help make older inventory stand out. That’s especially true for year-end customers with an immediate need who don’t want to take on additional financial commitments until the budget resets at the beginning of the next year
- Relocate – Drawing new attention to old stock can be as easy as putting it in a different location on your sales floor and your website
- Promote – One reason new inventory becomes old inventory is because it doesn’t find its market. To fix that, stretch your marketing to include low or no-cost options like social media, eBay, and classifieds provided by any trade associations or other groups you belong to
At LEAF, we help equipment dealers by making your solutions easier to afford. We solve real problems – like giving you tools to move older inventory without discounting.