Issue link: https://read.dmtmag.com/i/437570
DIGEST 10 • December 29, 2014 • Powersports Business FINANCE www.PowersportsBusiness.com Here are some examples. You're calling an underwriter based in San Jose. You say, "You guys are kind of near Laguna Seca, right?" The underwriter says "Yes." You reply, "I am kicking myself because I never made it to the MotoGP race at Laguna Seca. Amazing track!" The underwriter says, "Tell me about it. I used to take my kids there every year." You — a father of two — say, "That's so cool. How old are your kids?" He says, "Two girls, 9 and 12." "Wow, my boys are a lot younger than that, but I look forward to being able to do cool stuff like that with my boys one day." Now you know that your underwriter likes motorcycle racing, he has two kids, and he has girls. Now when you call him again, you have an automatic conversation starter, and he will remember you as the dad who thinks he does cool stuff with his kids. He will remember that ego stroke. Here's another example. If you were talking with an Atlanta-based underwriter in late Janu- ary 2014, they had just gotten several inches of snow and ice. You could have asked how that affected them. If they have a story to tell about their commute or how this affected their home, they will be happy to share. If you do not know anything about the area, a quick Internet search will provide plenty of information for you to ask the underwriter about. Once you find common ground, you want to get them talking. We know that the more you listen to someone talk about himself/her- self or something they like, the more they will like you. This is exactly the same thing we tell your sales staff when we talk about building rapport. You don't want to do the talking; ask the question and let them take center stage. The more they know and like you, the more they will want to help you when you need a favor. The takeaway should be: When you call a bank, you are selling. You are selling just as much as you are when you present products to a customer. Making the effort will make you more successful, and it will improve your rela- tionship with the sales department and make more customers' dreams come true. PSB Steve Dodds II is a moderator, trainer and con- sultant for Gart Sutton and Associates with a focus on sales and finance departments. Contact him at info@gartsutton.com. DODDS CONTINUED FROM PAGE 8 Husqvarna model range were crucial to the company's success. KTM has achieved a market share of 8.4 percent in Europe, the company said. ARI, SHOPATRON ANNOUNCE E-COMMERCE PARTNERSHIP ARI Network Services, Inc. has partnered with Shopatron to provide manufacturers an e-commerce solution that makes it easy for online shoppers to identify parts, check inventory in real-time and select from mul- tiple fulfillment options including ship from store and in-store pickup. "This partnership allows manufacturers to not only increase the visibility of their prod- ucts online, enabling customers to identify, price and order parts and accessories, but also allows customers to receive their orders with unprecedented speed by leveraging the inventory of local dealers," said ARI VP of Product Management, Brad Smith. "Our combined capabilities help manufactur- ers explore new, online profit centers and strengthen relationships with their dealers." The combined solution offers manufacturers: ARI's illustrated parts lookup applica- tion which easily integrates with a manufac- turer's existing website and ordering system to provide consumers an easy-to-use, visu- ally-driven shopping experience to identify, price and order parts online. Shopatron's cloud-based distributed order management system which helps manufacturers seamlessly leverage available inventory across their extended supply chain including dealers, distribution centers and warehouses when fulfilling orders online. The solution is already driving sales for Honda Engines, a division of American Honda Motor Co., Inc. "Offering the option to find and buy genu- ine Honda parts online gives our customers more flexibility, while still connecting them with the support of their local Honda dealers. It's one more way to provide our customers with best-in-class service and support," said Michael Rickey, senior manager, Honda Engines. YAMAHA LAUNCHES NEW P&A E-COMMERCE SITE Yamaha Parts and Accessories, a division of Yamaha Motor Corporation, U.S.A., announced the launch of a new e-commerce website. For the first time ever, www. ShopYamaha.com gives consumers the ability to purchase high-quality Yamaha apparel and accessories at a single online destination. "Just in time for the holidays, we created www.ShopYamaha.com to provide con- sumers with a one-stop shop for all things Yamaha," said Frank Pittman, vice president, Customer Support Group, Yamaha Motor Corporation, USA. "From stocking stuffer accessories like off-road riding gloves to top- of-the-wishlist items like snowmobile heated grips, the shop has something for every motorsports or Yamaha enthusiast." PSB Grant Thornton survey shows sustained business confidence Nearly half of CFOs expect the U.S. economy to improve during the next six months, and only 9 percent expect it to worsen, according to the Grant Thornton LLP 2014 Fall CFO Sur- vey. The biannual survey reflects the insights of more than 1,000 CFOs and other senior finan- cial executives across the U.S. The survey's findings indicate that economic optimism has remained stable during the past year despite increas- ing global uncertainty. In spring 2014, 51 percent of respon- dents expected the economy to improve during the next six months, compared to 40 percent in fall 2013 and 45 percent in the firm's spring 2013 survey. In this environment, the most common growth strategies for businesses in the upcoming year include pursuing organic growth in existing markets (87 percent) and introducing new products or services (72 percent). In addition, more than one-third (37 percent) of companies are considering a merger or acquisition in the next 12 months. For companies with more than $5 billion in annual revenue, that number is even higher at 60 percent. "While it's encouraging that CFOs aren't expecting contraction, they're not predicting significant growth either," said Stephen Chip- man, chief executive officer of Grant Thornton. "It's vital that our country's political leaders focus now on resolving this uncertainty by advancing comprehensive tax and entitlement reforms to spur economic growth." The notion that U.S. economic optimism remains stable amidst increasing global uncer- tainty correlates with other recent research from Grant Thornton. The Grant Thornton International Business Report found that opti- mism for the nation's economic outlook among U.S. business leaders remained strong at a net balance of 69 percent in third quarter 2014 while eurozone optimism dropped to a net bal- ance of 5 percent, down 30 percentage points from the previous quarter. In particular, Ger- man optimism plummeted 43 percent- age points to just net 36 percent. "The economic environ- ment in Germany has very significant implications for the U.S. economy a n d b u s i n e s s e s , " added Chipman. "We have yet to realize the domestic repercus- sions of the weaken- ing eurozone and will be watching the situa- tion closely in the com- ing months." Confidence in the U.S. economy is prevalent through- out the survey results, with 91 percent of respondents expecting their company's hiring to increase or remain the same in the next six months. In addition, 70 percent of CFOs expect the average cost of an employee's sal- ary to increase during the next 12 months, up 2 percent from the spring. Approxi- mately one-half (48 percent) of respondents predict that industry financial prospects will improve or significantly improve dur- ing the next six months, consistent with 51 percent in the spring. T h i s i s e s p e c i a l l y t r u e w i t h i n t h e manufacturing sector. A majority (51 percent) of manufacturing leaders say they expect their industry's financial prospects to improve during the next six months. PSB Study shows optimism for 2015 by U.S. CFOs 41 Percent of manufacturers who say their company is considering a merger or acquisition in 2015 DIGEST CONTINUED FROM PAGE 9