The economic landscape in 2009 was grim. The S&P 500 dropped in value by nearly 20%. And by March, the Dow Jones had dipped by more than 50% from its 2007 peak, leaving our client with more than a quarter of year-end production slots that were forecasted to be sold, still remaining.
With economists calling for things to get worse and carrying inventory into the next year not an option, we had to get creative. And so we launched the company’s first national retail promotion that motivated customers to visit dealerships. Not only did the event sell out every remaining production slot for the year, sales for the 2nd quarter of 2009 exceeded 2008 (a record year in equipment sales) by a whopping $70 million. In the end, the event produced an astonishing 2,400% ROI and led to double-digit market share gains in key equipment categories. In fact, the campaign was such a success that it’s been repeated every year since and remains a vital part of the company’s profitability. Learn more