Digitization offers equipment dealers an opportunity to expand their reach and connect with audiences they previously could not access. Through online platforms and advanced marketing techniques, dealers can tap into new markets, effectively target niche audiences, and streamline operations.
By embracing digital tools and strategies, forward-thinking companies are already positioning themselves ahead of their competitors to capitalize on the current business upswing and ensure long-term success. While many have seen results, still other organizations struggle to define digitization, recognize its value, or begin to implement digital strategies.
Defining Digitization
Digitization has emerged as a powerful force driving change and innovation within the equipment dealer industry, yet not everyone can define it. In fact, in a recent poll, only about a third of attendees felt they had a definitive description.
In a September 2023 webinar poll by Texada Software, only 35 percent of attendees reported a definite understanding of digitization. According to analyst firm, Gartner, digitization is the process of changing from analog to digital form, also known as digital enablement. However, a more useful method of defining the term is its utility, or some would say necessity, within the equipment dealer ecosystem.
“Digitization is important because it’s an increasingly complex and competitive world,” said Matt Harris, CEO of Texada Software. “An individual dealer is no longer just competing with other people like them or other businesses like them in their region. There are now suddenly other types of businesses who are trying to win their customers and using a variety of digital means to do so. So, we say digitize or die, because that is the significant trend in the industry.”
As the Managing Director of Learning Without Scars, Ron Slee also enjoys a ringside seat when it comes to equipment dealer trends, challenges, and success stories. He highlights the dynamic nature of today’s world, emphasizing the rapid pace of transition in various aspects of business and technology.
“We’re in a world that is transitioning much more rapidly today than ever before,” said Slee. “It’s not that long ago we were talking about data processing and then that moved to information transactions, and now with artificial intelligence and data analytics, we’re at the threshold of being able to use data, as long as it’s accurate, and transition it into information that we can employ in your business.”
Taking the Next Step Towards Digitization
Equipment businesses are beginning to realize the value of digitization. In a recent report, industry expert Ron Slee, Managing Director of Learning Without Scars, and Matt Harris, Texada Software CEO examine how digitization can affect equipment dealership business leaders and teams today.
Through customer conversations and industry insight, the two provide a deeper understanding into digitization, automation, and other trends influencing the market. Additionally, they offer key strategies for equipment dealerships to better leverage digitization to gain a business advantage. Access the Dealer Digest report today.
August 26, 2024
3 minutes read
