8 Takeaways From KnowledgeFest (ME Show) 2014

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Mike Ward seminar

Here are a few takeaways from the KnowledgeFest (Mobile Electronics Show) held last month in Dallas.

  • The number one cited industry problem by retailers and suppliers is still a lack of consumer awareness about aftermarket products for new cars.

 

  • It was truly impressive to see how engaged so many retailers were in learning how to better their businesses.  Seminars were packed at 8 am, with people asking questions and taking notes.

 

  • Driver Safety seems to be turning a corner with more suppliers offering products, including DVRs, which are now considered part of the driver safety umbrella  (people tend to drive more carefully when there’s a DVR in the car, especially teens).

 

  • DVRs are going to be everywhere, even as features in other products.

 

  • Dealers say one of the biggest threats to their business is finding and keeping good employees.

 

  •   Each employee should generate $175,000 per year of gross revenue.

 

  •  25 percent of your sales revenue should be labor.

 

  • Retailers who are successful share a common theme: a relentless focus on customer service.  Alpine, when it looks for retailers to be in its premier “Flagship” retail program looks for the retailer “That truly delights their customers,” said Mike Anderson of Alpine during the Town Hall meeting.

We’ll be running more lessons from the Mobile Electronics Show in marketing, sales, radar detectors and more in the coming weeks.

Photo: Ken Ward of  Musicar Northwest led a seminar on “Sales for Non-Salespeople” at the Mobile Electronics Show

Source: CEoutlook

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