The Dig

Johnnie Martinez 08:30:00
Welcome to the dig where equipment finance news editors connect with industry leaders and dealers to discuss News Analysis, market trends, tips and more. I am Johnny Martinez, second senior associate editor of equipment finance news, the one new source for both dealers and lenders today. Today's episode of The Dig, I am joined by Trisha Pearson, Business Director of Ignite attachments, and I will let her introduce herself further. Sure.

Trisha Pearson 08:30:35
Thank you, Johnny. Yes. I'm Tricia Pearson. I am the Business Director of Ignite attachments. I have been in this role for about three years now, excited to meet you,

Johnnie Martinez 08:30:46
excited to meet you too. And I think it's the attachment side is where a lot of these customers are still using equipment, buying equipment, especially in a time like now, where it's because of the macroeconomic situation and supply chain and things like that, it's maybe harder to get equipment. The attachments are still something that is needed and still has to deal with many of the same concerns and the same issues, to get access to it and to be able to operate and to be able to function as a business, you need the attachment side of it to still function. A lot of people just think of the larger equipment space, but the attachment side still deals with many of the same challenges and still needs many of the same resources.

Trisha Pearson 08:31:27
Yeah, absolutely. So you're making some great points as a as an individual who's a member of the attachments industry, we like to say that and a carrier without an attachment is just a bumpy ride, right? So kind of minimizes, but at the same time, you know, we know, we know the power of these attachments, and we know the power to your point of helping owner operators right to be able to be profitable. So to your point in the macro economic times it, you know diversification is a heck of a lot easier for your business when you're when you're buying a new attachment. So keeping that carrier running, keeping that carrier profitable, is opportunity that we can offer through a lower price point than a carrier usually an attachment, right for that individual to remain profitable, remain busy, and to do a great job for their customers.

Johnnie Martinez 08:32:26
Gotcha, and we'll talk about some of the some of the trends going on in the marketplace and some of the things that you guys are doing. But I think you know, for background, for the sake of all of our listeners, we could play start is, who were, you know, Ignite attachments is what you guys are doing the marketplace, kind of the origins and the growth of the company, and we can especially start with how you guys are addressing, kind of what's going on in the industry, and how you guys are approaching the engineering and then the buying experience for customers.

Trisha Pearson 08:32:58
Yeah, sure. So ignite attachments is really born out of the idea of wanting to make hard jobs surprisingly easier for folks, right? So obviously, that is what tools, like our attachments. Do you know, working with compact equipment and our attachments? You know, arguably, you could say you can do the job of 10 men with or women, right? With, with a carrier and attachment, right? So we're born out of the idea that we want to make hard jobs surprisingly easier for folks, but for us, that's more than the equipment that we offer. That's the full experience. So things like, how are people searching for the equipment that they're purchasing? How are they receiving it? Right? What does it take that total cost of ownership for them, for them to ultimately be the operator of that equipment, right? So if you go to our website, Ignite attachments.com, we offer what we call the Fit finder, where to the point of making a hard job easier, and that's determining the compatibility of the carrier that you know you own against the attachment that you're looking for. That fit finder allows for somebody to say, Okay, this is the carrier that I own, right? Maybe it's a caterpillar, 299, or something along those lines, right? So you put in your known which is the make and model of of your compact equipment, and our site will result for you all of the attachments and or implements, because we also offer implements that are right for you, as well as some apart some of the parts, things like tracks for track loaders, replacement parts. So that's a way that we believe that we are changing the industry and making that determination of compatibility easier. I. All the way down to what with is most appropriate for my carrier. So just trying to do things like that, delivery right. Lift gate service is optional for delivery. So you know, you don't even really have to, I'm going to say, mess with it when the when the freight or LTL carrier comes, right? They can, they can handle that heavy lift for you, and then other things that we're offering to make it easier for folks. Another example for ownership would be a QR code is on our equipment, and that QR code, you can scan it, get immediately to a product support page, where we would have the manual available for you. The exploded parts view, that exploded parts view would go directly to links where you can purchase those parts if you need them, and product support videos. So things like routine maintenance. What how do we how do we suggest that you perform some of that routine maintenance? So we're constantly building and trying to provide more access to that type of information for our customers. But when we say that we're trying to change the industry from search to service to support, those are some of the examples of what we mean and how we're trying to do things differently and make it easier for our customers to own ignite attachments

Johnnie Martinez 08:36:00
with, you know, a lot of these innovations, these changes, right? You talk about how it is supporting the customer, how much of this is born out of, you know, the things you hear from the consumer, the feedback side of it. And you know, how much of that goes into, you know, not just the development of these different initiatives, but also meeting kind of the the current industry needs, the demand situation, the buyer expectations, right? How much of that is taking the feedback from the consumers. You're getting for the attachment space, because it is a little different, right? You You still have this connection with the customer, but they have the equipment that they already have. You're trying to meet the equipment they have, versus they're going out and trying to find a piece of equipment that meets their needs in a different space.

Trisha Pearson 08:36:43
When you say, how much of the is this, of this is born out of the needs of the customer. That is the most important thing to me is, is to meet the needs of the customer, right? So for many years, in my background, voice of customer research is a function that I performed for other OEMs in the industry, and so it's important to me to be listening and to have great communication with our customers as a as a business that is direct to consumer. Yes, we also have a reseller or dealership network, but we are also direct to consumer. We have the opportunity to be that much closer to the feedback. So I would say a vast majority of what we do, as much as possible, of what we do is born out of meeting the needs of the customer.

Johnnie Martinez 08:37:33
Gotcha, you brought it up there as well the the direct to consumer and the dealer, support and balancing that, how much of that is also you know, your your network, your ability to get that product out there, the kind of the role of ignites reseller network in this the process of having, you know, both the direct to consumer side and the dealer support side.

Trisha Pearson 08:37:54
It's a great question. So it's not every day that a new attachments and implements company comes into the market, right? I was asked by by others in the in the media industry when we first launched, you know, this is unusual. Where did you come from, right? And so it's it's really not every day that that this happens, so the role of the reseller network, so in the fact that it's not every day obviously providing consumers and our prospects confidence that we are the right solution to them is a major initiative to us. It is a way, one of the ways that we can grow the business right is giving them that confidence. So providing the that hybrid model of yes, we sell online as well as we sell through a reseller network, offers the opportunity to increase confidence by giving folks the opportunity to see touch and feel our equipment. Now are we striving, again, every day, to provide more realistic product videos and and photos on our website? Absolutely, we want to create an experience on our website that is as close as humanly possible to touching it and feeling it. But these are the people in this industry. Are honest, hard working people that are used to building things with their hands, right, doing things, and, you know, being able to touch and see and feel the results of that labor. And so having a reseller network where folks can go into a traditional brick and mortar and see and touch and feel our equipment to provide them that confidence is just one of the ways that we believe that we can build the confidence to continue to grow our business right in partnership with these resellers. So it is a hybrid, but our resellers are an important part of how we can build confidence for. End users in this industry,

Johnnie Martinez 08:39:46
how you guys are working with the customers. Get to do a kind of very important conversation about the, you know, the state of the the industry, and some of the the trends that you guys are seeing, especially with the usage, the the purchasing side, the financing, and we kind of look at all three of those and kind of how they impact, sort of the different aspects of the industry that you guys are connected with, because you've got to work with the OEMs, you've got to work with the dealers, you've got to work with the end user and so a lot of moving parts and a lot of things that are changing. Kind of, what are you guys seeing in the marketplace at the moment?

Trisha Pearson 08:40:23
Sure, so that's part of where our direct to consumer and E commerce model is born out of right? Because folks, folks are becoming more comfortable with shopping for bigger ticket items online, and websites like Amazon are also showcasing that it needs to be a relatively easy experience in doing so, and the acquisition time needs to be fast. So we, although our industry, some may consider it to have been stagnant or static for a number of years, and there's a lot of our competitors who their value prop is really, hey, we've been here, right? You can trust us. We We've been here for 100 years. We've been here for, you know, we've stood the test of time. That's not us. We're saying we're your partner for the future and what comes at you next, right? So innovating with you, providing those solutions, and being right there as an as an E commerce company is one of the ways that we can do that. Another point that I would drive and part of what's important to us as we move forward and building and growing is especially as a result of some of the macro economics and these times, how can we then, as a as an E commerce company, partner with some of those third parties that are maybe non traditional to our industry, but payment plug ins, right? So how can we offer customers not only an easy way to search for their equipment and to buy their equipment, but in today's economic times to pay for their equipment? So today we have 1/3 party plugin. It's called credit key, and it offers kind of a buy now, pay later option for those B to B transactions, right, which, which is a lot of our transactions. We also have some folks who purchase implements for their acreage, but this is the credit key is for B to B. We're looking to expand that offering as folks are becoming more familiar in in their shopping on other websites with some of those payment plugins and offering flexible ways to pay. So we want to make it easy for people to acquire our equipment in a way that's right for them.

Johnnie Martinez 08:42:37
Gotcha No, that that makes a ton of sense. And I think especially, you know, looking at options with that buy now, pay later. Aspect to right, it's almost easy for attachment companies to forget that. You know, a lot of these consumers that you guys are selling to, or a lot of these customers you guys have are also paying for their equipment. So you guys are something on top of that and having ways to make it easier for them to purchase and to finance, just kind of simplifies that process for them. And knowing that I've already got this bill, now I've got this bill, but I can at least make one of these easier to manage

Trisha Pearson 08:43:15
absolutely and in saying that we also understand that there are things about what our customers want next that will probably never change. So having a quality product, right? That's probably never going to change. Folks demand that our definition of value, so we would consider ourselves a member of the value space, and our definition of value is functionality and durability at an accessible price point, right? So if you take us toe to toe with our competitors on that spec sheet, we're proud of the way that we can compete for the prices that we're able to offer. So something that we don't believe will ever change and will always be important to us is providing folks a quality product that that they are proud to own. So also availability issues. So that's something where we think that will always be important to the customer, we've made a significant investment then as a business, to housing our finished goods inventory at distribution centers. So today we have two distribution centers, one in Atlanta and the other in Reno. And the reason why we're doing that, and it's not cheap, but the reason why we're doing that is because we want to be closer to the customer, so that when they complete that transaction on our website, that that time in which they're actually able to start working with that equipment is diminished because we are shipping it as immediately as possible from those two distribution centers, and we want to grow that network so we can be. Closer to them, to continue to minimize those time frames, because, as we talked about, sites like Amazon are training folks that acquiring something that they purchase within two days is an expectation. Now, that's difficult in an LTL delivery world, right? I don't know that we're going to get to two days, and I want to be realistic with our customer, but having availability right and fast acquisition for the person who maybe is diversifying their business and buying that next attachment to do so is really important to us. And the third thing that we don't think will ever change and is just a constant, is is pricing right? And I spoke to that, and the fact that we want quality products at that accessible price. But those two things really work hand in hand. But those are three things as much as we're excited about the future and changing the industry and disrupting some of what's traditionally been the ways that people search and purchase and and service their equipment, we never want to lose sight of the fact that it's really important to our customers that they receive a quality product in a time frame that's accessible at a price that they're that they feel is very reasonable, right, based on the the feature benefit package of that unit. So we'll never lose sight of that as excited we are as we are about some of the things in the future.

Johnnie Martinez 08:46:05
For sure, I one of the fascinating things about, you know, what you've been saying this whole time, as far as you know, being a this kind of disruptor in the marketplace for the the attachments industry, and you know, the ways that ignite has kind of carved itself a place in the market, is that, you know, you've been talking about how almost a, not a direct competitor, but kind of following the the approach of, like an Amazon, right? It's almost a different mentality in a in an industry that is very much legacy heavy, both in terms of, you know, the attachment companies, but even the the contractors and the the dealers and the resellers, you know, people have been in this industry for some over 100 years, and so it's kind of coming to that, but sort of in the same vein, right, as a as an Amazon was a disruptor, and that approach to business, you guys coming in with that, that kind of mentality of how you're going to carve out a place in the market.

Trisha Pearson 08:47:00
Yeah, yeah. I mean, if you put yourselves, and as you discussed, how important is that voice of the customer, if we put ourselves in the shoes of the customer, those are also experiences that they're having. So it's it's an expectation that is becoming more normalized regardless of what they're shopping for. And and we're excited. Are within our team, we have product managers of the traditional product, right, that, you know, made of steel, but we also have product managers for our website that are doing these things that we're talking about, where they're assessing the competition, they're looking at the user experience, because, as we've discussed, that is an area for us that We do want to invest. So we're proud of the team of product managers for our traditional products engineers, those in sourcing right to bring that accessible price point to folks, but we're also proud of those who are providing that better experience.

Johnnie Martinez 08:48:01
Gotcha all right. No, that makes a ton of sense, and I just want to get into a few wrap up style questions for Ignite from, from where you sit, what are some of kind of the key opportunities in the industry for, you know, the attachment companies, but even for the the consumer side or the the business side that you know exist in the the space today? Some

Trisha Pearson 08:48:27
of the key opportunities, I think that folks, their expectation of communication and connection is deepening, and so for us, if we can continue to invest in how we connect with our customers and how we serve them, I think that's a key opportunity, right? We, we don't just, we don't want to be the company that just delivers the, you know, at that date of delivery, right? We and the relationship we, we really want to drive engagement loyalty, and we think that we can do that through servicing them throughout that support cycle. So I think that's a key, key opportunity for us, for how we can grow, as well as for for the industry as a whole, is is just better communication with our with our customers, with our dealers, right? But communication, again, having a marketing communications background communication is so important, and I think it's really truly an opportunity for how we can all be better.

Johnnie Martinez 08:49:36
What advice would you have for someone who's sort of making their way into kind of the equipment? Industry hole, but even the attachment side. So we're just trying to be involved in that space. What advice would you give someone who's kind of getting started in a role similar to that?

Trisha Pearson 08:49:53
I feel very blessed by the time I was able to spend in the field. So my advice would be, get out there. See people work, understand what they're looking for. You know, I have not spent a ton of time in the operator seat. There are certainly folks on my team who have, but I have spent a lot of time speaking with folks who sit in the operator seat. And so my advice would be, get out there, listen, hear what they're looking for and do your best to deliver.

Johnnie Martinez 08:50:28
As we start looking into the rest of 2025, and even into next year. What's next for Ignite attachments? What does the future look like? What is kind of the the expectation, especially as we everyone tries to to navigate this, this market with the murky crystal

Trisha Pearson 08:50:44
ball? Yeah, I wish I had one funny you should ask today, because I'm heading from this to our company's long range planning session, so we are figuring that out. But in summary, I would say we're going to continue to launch products. We're going to continue to provide opportunity for our customers to diversify their business, for our resellers to continue to provide solutions to their customers. So what's next is we're going to keep growing. We're going to keep providing opportunity, because that's what's important to us.

Johnnie Martinez 08:51:19
Gotcha well, that all sounds fantastic, and I thank you so much for your your time today and the ability to talk with you about everything going on with Ignite attachments and some of the things that you've been up to.

Trisha Pearson 08:51:29
Well, Johnny, so great to meet you. Thank you so much. You.

Transcribed by https://otter.ai