The Rental Industry Buying Group (TRIB Group) came home to Atlanta, Georgia, where it was initially founded, for its annual Meeting of the Minds from February 23-26. Members came to the Spring meeting and buying fair from around the nation and experienced a triumphant “homecoming” theme that highlighted its return to being a self-sponsored event.
The event took place at the Renaissance Waverly Hotel and Cobb Galleria Convention Center after a welcome reception held at the College Football Hall of Fame. “It was everything we wanted to give to our members, and we were able to sponsor it ourselves!” said TRIB Group’s Dennis Shields about his experience with this year’s Meeting of the Minds.
The main program of the Spring meeting started on Monday, beginning with a veterans’ tribute, followed by an awards ceremony led by Shields and TRIB President Chris Kale, Jr., a national trade association update by APRO Executive Director Jill McClure, interactive breakout sessions and a Hot Show.
The veterans’ tribute honored veteran and former TRIB Group Executive Director John Blair by renaming the organization’s Hall of Honor the John D. Blair Hall of Honor. John served as executive director from September 1986 to June 1998 and has continued his affiliation as the VP of Sales with PTS Financial Services, a supporting partner. He was inducted into the Hall of Honor in 2009 and continues to be a loyal advocate for TRIB Group members. “I’m just a drop in the bucket…I was just doing what I was supposed to do.” Blair said in his acceptance speech. “It is such an honor to be a veteran.”
At the awards ceremony following the veterans’ tribute, TRIB recognized several members for their outstanding contributions to the organization and the rental industry, presenting to Curtis “Kit” Knight of Central Rent 2 Own the Norman W. “Slats” Slatton Sr. President’s Award. Kit has conducted his family’s legacy business line in an inviting and welcoming business model, treating each employee as part of the family as it has been done for four generations.
Keith Ferriman of Showplace Rent to Own received the James B. Baber Vendor’s Choice Award. A second-generation rental dealer, Keith has worked with both TRIB Group and the Ohio Rental Dealer’s Association where he is heavily involved with vendor relations. Keith’s dedication to supporting vendors within TRIB and the Ohio Rental Dealer’s Association earned him the award.
TRIB recognized Kevin Silvers of New Generations Diamond and Jewelry. Kevin received the Lowry Shrader People’s Choice Award, an honor given to the representative of an approved vendor who best exemplifies customer service and industry support. Kevin is passionate about providing service to each and every customer and has served the rent-to-own industry for more than 25 years.
In recognition of vendor representatives who go above and beyond in their service to members, TRIB Group board of directors presents the Hall of Honor award. This year, TRIB inducted David Kaye, Vice President of Sales and Marketing for Benefit Marketing Solutions to their Hall of Honor. David retired at the end of 2019 after over 30 years sup porting the rent-to-own channel. David’s commitment to the RTO channel, as well as being active in legislative affairs are what has set him apart.
After the awards ceremony, attendees participated in interactive breakout sessions during the program. These were focused meetings led by conversation catalysts or “Convo Cats”—industry leaders who moderated the sessions and provided RTO members with relevant topics to explore, along with trends and updates in an intimate group discussion setting with their peers.
Following the breakout sessions, attendees boarded charter buses and headed to the Hot Show at Live! at the Battery. The Hot Show featured an enormous wall-to-wall visual display of all current products, sponsors and sales lists. The three-hour show and reception were a hit, taking in more than $8.7 million in sales.
The Hot Show attendees later migrated to the PTS Financial Services after-party to mingle, connect, and ride a mechanical bull for donations that supported homeless veterans. Money was raised for a great cause, a good time was had by all, and no significant injuries were reported.
The Meeting of the Minds wrapped with its buying show held on Tuesday and Wednesday. Included in Tuesday’s portion of the show was the Beer Bash Reception. The reception allowed both the vendors and dealers to grab a chilled beverage and relax while still making their rounds on the floor. Before the vendor hall opened on Wednesday, TRIB hosted their Coffee Talk and TRIB Member Breakfast. The 2020 Meeting of the Minds closed that afternoon with TRIB thanking everyone for their attendance and camaraderie.
HIGHLIGHTS AND TAKEAWAYS FROM THE BREAKOUTS
Seek & Employ
Daniel Fisher and Keith Carrico, Moderators
The Seek & Employ session, moderated by Daniel Fisher and Keith Carrico, centered around the challenges of hiring and onboarding new employees. The group discussed veterans as a well-trained candidate pool. Use community sourcing for vets such as the local VFW and American Legion groups.
Attendees mentioned not to be afraid to hire someone with a criminal history. Dealers must protect their clients, but if solid due diligence based on the position is completed, a person with a criminal history may become a solid addition to the team. Just like the sales process that says to “Always Be Closing,” managers and owners should also always be recruiting.
Winning at the Occupancy Game
Shirin Kanji and Gary Ferriman, Moderators
“As an experienced lease negotiator from both the tenant and landlord angle, I was impressed with the negotiating approach brought by my co-presenter, Shirin Kanji,” said Gary. Kanji’s approach was to listen well enough to get to the main requirement or priority of the landlord, then negotiate for other things diligently. Many participants shared they are negotiating an even more favorable cap on HVAC annual expenses.
FUN (Find, Unite & Nurture) Employees
Kelly Martin and Michael Simoncini, Moderators
Attendees at this breakout agreed engaging with our coworkers starts when they are looking at working for us, not once they have been hired. Having a standard onboarding process is a good way to share company benefits and start the employee off on the right foot to be open to engagement. Being engaged with employees can be very simple: say thank you, write a note, give a lunch, be grateful.
Turning Online Leads Into D’s
Mark Williams and Jessica Mahon, Moderators
Online leads no longer mean just using websites. It’s all things digital. That also includes Facebook, Instagram, video content, chat, Google, email, etc. Dealers need a consistent method to track and follow up on web leads and orders. By not consistently tracking leads, many are left unable to provide real-time data on close percentages and their percentage of online leads versus overall sales.
Tracking leads received online is important. Once that information is clear, dealers can track how many of their monthly sales come from leads, and can track how many leads are closed to know their conversion rate, and what needs to be done to improve results.
W.T.F. – What’s the Future?
Paul Metivier and Chad Fosdick, Moderators
Sales, decreased traffic, and alternative/kiosk RTO businesses (retail and online players) were the largest concerns in this breakout. The group discussed that having knowledge of what these businesses are pricing and offering is a big key to educating our customers and preventing them from leaving our brick-and-mortar stores.
Many dealers are utilizing technology to drive sales. Not just websites and web orders but jumping into online chat (live) and even chat bots (when coworkers are away from workstations). Almost all are utilizing social media. Others are creating web-specific salespeople and allowing them to work remotely and at staggered hours.
How to Price for Maximum Profit
Sachin Rama and Chris Kale Jr., Moderators
Everyone generally has similar pricing. For many customers, it isn’t about the pricing, but rather the execution of general procedures and showing the benefits that are included in pricing. Regarding data analytics, Sachin says, “Many attendees seem to have a lack of data analytics when it comes to what the hard numbers tell them. It’s easy to say this works or doesn’t, but when asked for details it is tough to give.” This session provided insight for many to better understand the numbers.
Emerging Professionals
Dale Anderson, Jessica Mahon and Adam Stark, Moderators
Build a personal brand that represents who YOU are. Being yourself is the bravest thing you can do. But being the BEST version of you doing something you’re good at… wow! If that means being the best backroom guy, then be THE guy! Setting goals is a must, both professionally and personally. You must set a clear path for yourself, see yourself there, and then make it happen.
Data Worth Action
Daniel Singh and Mike Tissot, Moderators
Professionals in the industry explored using data to change the game. Participants learned what the key data levers to use are and how to pull them in the right direction to increase margins dramatically.
