33
USEDCRANEMARKET
INDUSTRY FOCUS
OCTOBER 2014
ACT
private saleor local advertisement. The
channel(s) selected shouldbebasedon
the typeof crane, buyer base and location,
aswell as anticipated interest in the
machine(s). For instance, online auctions
arebetter for high-demandproducts
whileprivate sales arebetter for big-
ticket ormore specialized items thatmay
requiremore time to sell.
■
Adjustmarketing to attract the right
buyer type andbuyer location for each
specific item. Crane type shoulddictate
the target audience.
■
Schedule apreviewperiod, allowing
potential buyers topersonally inspect
the equipment; this allows buyers the
opportunity to see the crane(s) firsthand,
createsmore transparency andultimately
increases bidvalue.
■
Develop targetedmarketing collateral,
such as advertisements, email blasts and
press releases, to raise awareness of the
sale. Be sure to includeplentyof images,
video and adetaileddescriptionof the
machine.
■
Have a removal period inplace. This
will providebidderswith set guidelines
forwhat to expect post-purchase aswell
as adefinitive timeline.
To avoid any surprises or a saledefault,
a company shouldvet all buyers aheadof
time. A singlepoint of contactwill also
limit disruption.
International buyer base
To successfullymarket on a global scale,
companies need access to an international
buyer base. Looking for buyers in the
backyard is extremely limiting and
unsustainable. Additionally, without a
dedicated team to implement andmanage
a surplus-asset program, dealingwith
obsolete equipment adds stress to staff
and takes time away from corebusiness
activities.
Companies should assesswhether an
in-house asset-management program is
a viableoption inorder tobuild ahigh
performance surplus crane sales program.
Criteria todetermine this include:
employeebandwidth, availabilityof
internal best-in-class assetmanagement
systems, current buyer reach, rangeof
marketing and sales tactics and ability
to support storage and transportation
needs. Sometimes thebest choice is for
organizations toworkwith a trusted
partnerwhoseprimarybusiness is
providing solutions for surplus crane
fleets.
Partneringwith a reverse supply chain
expertwill streamline sales by connecting
sellers directlywith endusers, and save
valuable employee time and resources.
A reputablepartnerwill bring extensive,
global knowledgeof theused crane
marketwhile ensuring transparency,
efficiency and compliant removal of the
machines.
When consideringworkingwith a
reverse supply chainpartner, consider
these critical questions todetermine if a
vendor has the knowledge, expertise and
ability to implement awinning solution:
■
Does the vendor have extensive
knowledgeof the crane industry aswell as
the secondaryused cranemarket?
■
What is the vendor’s reputationwithin
the industry?
■
Howdoes the vendor demonstrate
success to clients?
■
Does the vendor have effective and
transparent communication tactics
(e.g. leavingno room for questions or
confusion)?
■
Does the vendor have account
managerswho are tenured,
knowledgeable and reachable?
■
Is theoperatingplatformuse scalable
and flexible to adapt to futureneeds?
■
Are their processes documented and
repeatable?
■
Does theprovider possess an extensive
buyer base andunderstand localmarkets?
Forward-thinking companies are
taking amoreproactive role in the
remarketingprocess for their surplus
crane assets and looking at asset recovery
as a critical strategy in reducing the cost
of ownership. Simplyput, seeing and
understanding thebigger picture and
investing the right level of effort and
attentionwillmake ameasurable impact.
By anticipating the lifecycleof the crane,
crane-owning companies can successfully
navigate the secondarymarket and
increase returnon assets.
■
Maintenance
plans alone canmake
the difference between a
recovery of 55 percent of
acquisition value, versus
75 percent or better on
well-documented cranes.
