Compiled by SEMA Editors

NASCAR Postpones Martinsville Race

NASCAR has decided to postpone the scheduled events May 8–9, at Martinsville Speedway in Virginia. The organization intends to run all 36 races, with a potential return to racing without fans in attendance in May. The health and safety of its competitors, employees, fans and the communities in which they run continues to be the organization's top priority, according to a written release. The debut of the Next Gen car has also been delayed until 2022. For the latest information, visit www.nascar.com. For a running list of adjusted 2020 racing series schedules and calendars, updated regularly, visit here.

The ’20 COPO Camaro is available to order and purchase in a three-step process on a first-come, first-served basis.

’20 COPO Camaro Orders Now Open; Available to Order First Come, First Served

Chevrolet produces 69 new COPO Camaros every year, and now the ’20 COPO Camaro is available to order and purchase in a three-step process on a first-come, first-served basis. The ’20 COPO Camaro offers more color options than ever before and two engine offerings. Since 2012, Chevrolet has produced 552 COPO Camaros (only 69 per year), making them rare factory race cars. During that time, five COPO Camaros have crossed the auction block for charity, raising nearly $2 million for a variety of important causes. The ’20 COPO Camaro’s available engine lineup includes a revised version of the supercharged, LSX-based 350 engine, featuring a 2.65L Magnuson supercharger and all-new LSX-SC cylinder heads, as well as an LSX-based naturally aspirated 427 engine. Also available is the Racer’s Package, which includes a carbon-fiber air inlet, dual batteries, weight box, parachute and a quick-change coupling (with the supercharged engine). To order a ’20 COPO Camaro, visit the COPO Camaro page on the Chevy Performance website and download an order form. Once you submit the from, a GM representative will contact you and grant the prospective buyer a purchase certificate.

The Champion Racing Oil/Williams Grove Summer Nationals Open sanctioned by the World of Outlaws Sprint Car Series is still on for July 24–25, in Mechanicsburg, Pennsylvania.

Champion Racing Oil Summer Nationals Still on Track for July

Champion Oil says things are all still ago for the Champion Racing Oil/Williams Grove Summer Nationals Open sanctioned by the World of Outlaws Sprint Car Series, July 24–25, in Mechanicsburg, Pennsylvania. The Champion Racing Oil Summer Nationals is an event with more than 50 years of history that includes the biggest names in motorsports competing at half-mile Williams Grove Speedway. The Champion Racing Oil National Open is a key part of the series championship that includes 94 race nights at 50 different tracks across 22 states and 3 Canadian provinces.

Valvoline Returns to SCCA With Renewed Partnership and Team Valvoline ProAm 50

Valvoline Inc. and Sports Car Club of America (SCCA) have renewed an old friendship, with the global lubricants marketer and the 65,000-member enthusiasts club joining hands in a partnership for 2020. As a portion of the renewed partnership, Valvoline is collecting its professional drivers for a chance to race against a select group of SCCA members during the Team Valvoline ProAm 50, Saturday, April 25, on the iRacing version of Watkins Glen International as part of the Hoosier Racing Tire SCCA eSports Super Tour. Among the Team Valvoline members are Hendrick Motorsports drivers Chase Elliot and Alex Bowman, with other Valvoline pros to be determined. A select group of SCCA members will be invited to participate in the race, using the Cadillac CTS.V that has been racing in the Touring group for SCCA Super Tour events. The invitations will be based on a variety of criteria, including participation, sportsmanship and success at the previous three rounds of the SCCA’s eMotorsports series. The virtual race will be streamed live along with all the Hoosier SCCA eSports Super Tour races on Saturday. In addition to the Team Valvoline ProAm 50, Valvoline returns as a monthly partner for SCCA’s Track Night in America driven by Tire Rack program. Valvoline will offer discount codes for $25 off a Track Night in America entry during their month. Representatives from Valvoline will be on site throughout the SCCA’s 2020 season.

Formula DRIFT Adjusts 2020 Schedule

Formula DRIFT (FD) has announced its revised 2020 competition schedule, which kicks off July 3–4, at Michelin Raceway Road Atlanta.

“With the cancellation of the opening round and the uncertainty regarding the ability to organize live events in the first few months following the national directives regarding COVID-19, we have worked closely with all our venue partners to create a new 2020 schedule,” Formula DRIFT President Jim Liaw said. “We’ve taken these steps, in consultation with the teams and sponsors, in order to give us the highest probability of achieving our goal to run an eight-round Championship. Obviously, this may still be subject to national directives since the safety of our fans, teams, vendors, sponsors, and staff remains our number one priority.”

The new schedule, which was made in consideration for the American, European and Asian teams who wish to compete this year, features a majority of the expected tracks, although several dates have been changed. Long Beach, California, and Orlando, Florida, have both been canceled, but new events have been created at Irwindale Speedway and Texas Motor Speedway. Throughout the 2020 schedule, Formula DRIFT will adhere to local and national government guidance on health and safety. For the revised competition schedule and ticket information, visit www.formulad.com.

The 2020 HOT ROD Power Tour will kick off, Sunday, August 23, in Norwalk, Ohio, at Summit Motorsports Park.

HOT ROD Power Tour Unveils New Dates

The 2020 HOT ROD Power Tour will kick off, Sunday, August 23, in Norwalk, Ohio, at Summit Motorsports Park, and roll through seven cities over the course of seven days. The full list of HOT ROD Power Tour stops will include:

• Kickoff on Sunday, August 23: Summit Motorsports Park in Norwalk, Ohio
• Monday, August 24: National Trail Raceway, Hebron, Ohio
• Tuesday, August 25: Indiana State Fairgrounds, Indianapolis
• Wednesday, August 26: World Wide Technology Raceway at Gateway, Madison, Illinois
• Thursday, August 27: University of Illinois – State Farm Center, Champaign, Illinois
• Friday, August 28: Mississippi Valley Fairgrounds, Davenport, Iowa
• Finale on Saturday, August 29: Chicagoland Speedway, Joliet, Illinois

For more information, visit the HOT ROD Power Tour website.

Darlington Dragway Set to Reopen

Russell Miller, owner of the Darlington Dragway, received official permission from the South Carolina Department of Commerce last week to begin holding test sessions at the track under strict guidelines. Social distancing, temperature-taking, no spectators on the premises and sheriff deputies on hand to ensure all guidelines are being followed are part of the process.

Goodguys 1st RaceDeck Salt Lake Nationals, 38th All American Get-Together Rescheduled

The Goodguys 1st RaceDeck Salt Lake Nationals, originally scheduled for May 15–17, at the Utah State Fairpark in Salt Lake City, has been rescheduled for July 17–19, at the same venue. As a result, all vehicle registrations, spectator tickets and vendor and swap meet spaces purchased for the event so far will be automatically transferred to the new event date. Revised event confirmations and tickets will be sent out in the coming weeks. Additionally, the 38th All American Get-Together, originally rescheduled for May 30–31 at the Alameda County Fairgrounds in Pleasanton, California, has been postponed to November 14–15, at the same venue. The 38th All American Get-Together will replace the 31st Autumn Get-Together. All vehicle registrations, spectator tickets and vendor and swap spaces purchased for the event so far will be automatically transferred to the new event date. Revised event confirmations and tickets will be sent out in the coming weeks.

Sparta Evolution Partners With Worthouse.Team

Sparta Evolution and Worthouse.Team have announced a multi-year partnership beginning in 2020. As the official brake sponsor, Sparta Evolution is the partner for Worthouse.Team drivers James Deane and Piotr Więcek and their pair of Nissan Silvia S15s in the PRO1 class of the Formula DRIFT series.

For more racing news, visit the Performance Racing Industry (PRI) website.

By Fredy Ramirez

The SEMA Data Co-op (SDC) is “data central” for hundreds of specialty parts brands, representing millions of part numbers and tens of millions of vehicle applications. Created by SEMA, the SDC is the definitive, industry-owned and -operated centralized data repository, complete with a comprehensive set of online data management tools.

The product releases below are from SEMA members who are also part of the SDC at the the Bronze, Silver, Gold or Platinum level. Learn more about the SDC at www.semadatacoop.org.

SDC members are invited to submit new-product press releases for consideration to editors@sema.org.

Holley Lo-Ram Manifold Kit Holley announces the release of its LS1/2/6 Lo-Ram intake manifold kits designed for GM LS Gen III and IV engines equipped with GM LS1/2/6 (cathedral port) cylinder heads. The intake manifolds are engineered to work with OE or aftermarket cylinder heads. The Lo-Ram intake manifolds are designed for forced induction (supercharged or turbocharged) engine applications and a 105mm throttle body. The base intake manifold is manufactured with a low height to aid in the packaging of a plenum-mounted air-to-water intercooler for top-feed configurations. 866-464-6553 www.holley.com PN: 300-621BK
Hooker Blackheart Axle-Back Hooker Blackheart releases its Axle-Back system for the ’15–’19 Subaru WRX/STI with a 2.0 or 2.5L engine. The system features dual, polished 304SS high-flow straight-through mufflers designed to deliver a deep, sporty tone.  This system is made from 18-gauge, mandrel-bent, 304SS constructed for added strength and longevity. 866-464-6553 www.holley.com PN: w/exhaust BH9301, w/o exhaust BH9302
Hooker Blackheart Up-Pipe Hooker Blackheart introduces its race Up-pipe designed for the ’15–’19 Subaru WRX/STI with 2.5L engines. Constructed of 18-gauge 304SS, it is engineered to deliver strength, durability and save weight. The pipe’s tube size and geometry are manufactured to provide better flow and reduced turbo lag. This pipe uses an OE-style overlapping flex coupler constructed for smooth exhaust flow and reduced vibration. 866-464-6553 www.holley.com PN: BH9307
NOS Two-Stage Progressive Nitrous Controller NOS announces the release of its two-stage nitrous controller. It features two completely independent stages of nitrous/fuel control, each with independent throttle position activation switch and progressive ramps. The handheld LCD touch-screen display (with included stylus), is designed to make programming quick and simple. This display also allows you to store multiple tunes because of the built-in micro-SD card. 866-464-6553 www.holley.com PN: 25974NOS	3
Holley Throttle Body Adapter Holley introduces its 105mm throttle body adapter for its four-bolt LS 105mm throttle body onto a front-feed Lo-Ram intake manifold. 866-464-6553 www.holley.com PN: 300-606
Mishimoto Oil Cooler Mishimoto announces the release of its Oil Cooler for the ’15–’20 BMW F8X M3/M4. The cooler is suspended perpendicular from the rest of the cooling stack, designed to utilize the Bimmer’s aerodynamics in order to cool the oil. The cooler features a full aluminum, TIG-welded bar-and-plate cooler designed for added strength and cooling. 877-466-4744 www.mishimoto.com PN: MMOC-F80-15
Mishimoto Charge Pipe Kit Mishimoto introduces its Charge Pipe Kit for the ’15–’20 BMW F8X M3/M4. The pipes are constructed from full aluminum TIG-welded engineered for a secure channel for the S55’s boost. The pipes are specifically designed to deliver optimal airflow with a more uniform shape from turbo to intercooler without sacrificing fitment. The charge pipe kit also includes a pair of matte black silicone couplers for a secure and stock styled connection to the air-to-water intercooler. 877-466-4744 www.mishimoto.com PN: MMICP-F80-15

SDC members are invited to submit new-product press releases for consideration to editors@sema.org.

By Fredy Ramirez

The SEMA Data Co-op (SDC) is “data central” for hundreds of specialty parts brands, representing millions of part numbers and tens of millions of vehicle applications. Created by SEMA, the SDC is the definitive, industry-owned and -operated centralized data repository, complete with a comprehensive set of online data management tools.

The product releases below are from SEMA members who are also part of the SDC at the the Bronze, Silver, Gold or Platinum level. Learn more about the SDC at www.semadatacoop.org.

SDC members are invited to submit new-product press releases for consideration to editors@sema.org.

Holley Lo-Ram Manifold Kit Holley announces the release of its LS1/2/6 Lo-Ram intake manifold kits designed for GM LS Gen III and IV engines equipped with GM LS1/2/6 (cathedral port) cylinder heads. The intake manifolds are engineered to work with OE or aftermarket cylinder heads. The Lo-Ram intake manifolds are designed for forced induction (supercharged or turbocharged) engine applications and a 105mm throttle body. The base intake manifold is manufactured with a low height to aid in the packaging of a plenum-mounted air-to-water intercooler for top-feed configurations. 866-464-6553 www.holley.com PN: 300-621BK
Hooker Blackheart Axle-Back Hooker Blackheart releases its Axle-Back system for the ’15–’19 Subaru WRX/STI with a 2.0 or 2.5L engine. The system features dual, polished 304SS high-flow straight-through mufflers designed to deliver a deep, sporty tone.  This system is made from 18-gauge, mandrel-bent, 304SS constructed for added strength and longevity. 866-464-6553 www.holley.com PN: w/exhaust BH9301, w/o exhaust BH9302
Hooker Blackheart Up-Pipe Hooker Blackheart introduces its race Up-pipe designed for the ’15–’19 Subaru WRX/STI with 2.5L engines. Constructed of 18-gauge 304SS, it is engineered to deliver strength, durability and save weight. The pipe’s tube size and geometry are manufactured to provide better flow and reduced turbo lag. This pipe uses an OE-style overlapping flex coupler constructed for smooth exhaust flow and reduced vibration. 866-464-6553 www.holley.com PN: BH9307
NOS Two-Stage Progressive Nitrous Controller NOS announces the release of its two-stage nitrous controller. It features two completely independent stages of nitrous/fuel control, each with independent throttle position activation switch and progressive ramps. The handheld LCD touch-screen display (with included stylus), is designed to make programming quick and simple. This display also allows you to store multiple tunes because of the built-in micro-SD card. 866-464-6553 www.holley.com PN: 25974NOS	3
Holley Throttle Body Adapter Holley introduces its 105mm throttle body adapter for its four-bolt LS 105mm throttle body onto a front-feed Lo-Ram intake manifold. 866-464-6553 www.holley.com PN: 300-606
Mishimoto Oil Cooler Mishimoto announces the release of its Oil Cooler for the ’15–’20 BMW F8X M3/M4. The cooler is suspended perpendicular from the rest of the cooling stack, designed to utilize the Bimmer’s aerodynamics in order to cool the oil. The cooler features a full aluminum, TIG-welded bar-and-plate cooler designed for added strength and cooling. 877-466-4744 www.mishimoto.com PN: MMOC-F80-15
Mishimoto Charge Pipe Kit Mishimoto introduces its Charge Pipe Kit for the ’15–’20 BMW F8X M3/M4. The pipes are constructed from full aluminum TIG-welded engineered for a secure channel for the S55’s boost. The pipes are specifically designed to deliver optimal airflow with a more uniform shape from turbo to intercooler without sacrificing fitment. The charge pipe kit also includes a pair of matte black silicone couplers for a secure and stock styled connection to the air-to-water intercooler. 877-466-4744 www.mishimoto.com PN: MMICP-F80-15

SDC members are invited to submit new-product press releases for consideration to editors@sema.org.

By Ashley Reyes

Newly released footage featuring Chip Foose at the 2019 SEMA Show STAGE is now available. Powered by SEMA Education in partnership with the SEMA Wheel and Tire Council (WTC), the candid interview features the legendary automobile designer as he opens up about his influences and career accomplishments with host Myles Kovacs.

As the youngest member inducted into the Hot Rod Hall of Fame in 1997 at the age of 33, Foose is one of the largest influences in the aftermarket industry. The featured episode offers viewers the opportunity to get to know Foose as he shares stories about his favorite builds, designing and building custom street rods and studio vehicles, and how following in his father’s footsteps ultimately led him to obtaining the career he has today.

“I never thought of it as pressure, I thought of it as I had a great opportunity,” said Foose. “I was working with my hero, and I wanted to be him.”

In addition to paying tribute to his father, Foose attributes his strong work ethic and ability to keep moving forward to the team that works around him.

“I’m just lucky I get to make a living doing something that’s 100% unnecessary,” adds Foose. “The world doesn’t need another hot rod. There’s a reason, and that’s because it’s 100% passion driven. People are willing to reach in their wallet and pay us to build their dream. I’ve got the greatest job in the world, I’m so lucky.”

Additional topics include stories behind his favorite builds, his experience with diecast and plastic model cars and how automobile design has changed over the years.

“It’s amazing to me what can be done now with a computer,” said Foose. “I use it a little bit, but I still think that human touch is very important in the hot-rod world. There’s a difference—you can see a car that’s been all computer cut, and you can tell something that has passion and desire to be the best in it.”

Throughout his career, Foose starred in various reality television shows such as TLC’s “Overhaulin’”, Discovery Channel’s “Ultimate Car Build-Off,” and “American Icon: The Hot Rod” on Discovery’s HD Theater.

Check out the full video and stay tuned to SEMA eNews for additional featured interviews from the STAGE. For the latest news and updates, follow SEMA Education on Facebook and Instagram.

By Ashley Reyes

Newly released footage featuring Chip Foose at the 2019 SEMA Show STAGE is now available. Powered by SEMA Education in partnership with the SEMA Wheel and Tire Council (WTC), the candid interview features the legendary automobile designer as he opens up about his influences and career accomplishments with host Myles Kovacs.

As the youngest member inducted into the Hot Rod Hall of Fame in 1997 at the age of 33, Foose is one of the largest influences in the aftermarket industry. The featured episode offers viewers the opportunity to get to know Foose as he shares stories about his favorite builds, designing and building custom street rods and studio vehicles, and how following in his father’s footsteps ultimately led him to obtaining the career he has today.

“I never thought of it as pressure, I thought of it as I had a great opportunity,” said Foose. “I was working with my hero, and I wanted to be him.”

In addition to paying tribute to his father, Foose attributes his strong work ethic and ability to keep moving forward to the team that works around him.

“I’m just lucky I get to make a living doing something that’s 100% unnecessary,” adds Foose. “The world doesn’t need another hot rod. There’s a reason, and that’s because it’s 100% passion driven. People are willing to reach in their wallet and pay us to build their dream. I’ve got the greatest job in the world, I’m so lucky.”

Additional topics include stories behind his favorite builds, his experience with diecast and plastic model cars and how automobile design has changed over the years.

“It’s amazing to me what can be done now with a computer,” said Foose. “I use it a little bit, but I still think that human touch is very important in the hot-rod world. There’s a difference—you can see a car that’s been all computer cut, and you can tell something that has passion and desire to be the best in it.”

Throughout his career, Foose starred in various reality television shows such as TLC’s “Overhaulin’”, Discovery Channel’s “Ultimate Car Build-Off,” and “American Icon: The Hot Rod” on Discovery’s HD Theater.

Check out the full video and stay tuned to SEMA eNews for additional featured interviews from the STAGE. For the latest news and updates, follow SEMA Education on Facebook and Instagram.

By Douglas McColloch

Due to COVID-19, retailers are adjusting to variation in consumer foot traffic, developing new ways to maintain their customer relationships, and marketing to take advantage of growing consumer interest in online purchasing.

The sudden outbreak of the COVID-19 novel coronavirus has forced many companies to alter and adjust their existing business models. Brick-and-mortar retailers are adjusting to a reduction in consumer foot traffic, companies are developing new ways to maintain their customer relationships, and marketing and advertising strategies are being refocused to take advantage of a growing consumer interest in online purchasing.

We spoke about these subjects with Dr. Kim Saxton and Dr. Todd Saxton, professors at the Kelly School of Business at Indiana University, who offer practical advice for businesses to best anticipate and adapt to shifts and uncertainties in the marketplace. The following are excerpts from our interview, edited for clarity and length.

SEMA News: Among our member companies, point-of-sale retail transactions account for about two-thirds of total sales. For companies that are going to be impacted by reduced foot traffic, what are some policies and procedures they can put in place right now to help get them through the next six months?

Kim Saxton: Essentially, as business becomes more online, the key is to test more customer data. Now is a great time to go through your sales records, particularly if you have downtime, and identify who this group of really loyal customers are. Try and look at their shopping history and ask, what kinds of things do they buy? How can I reach out to them if they can’t come to the store? We don’t know how long this [COVID-19 outbreak] is going to go on, but people are starting to want entertainment. Is there a way that you could help them pursue their passion while they’re stuck at home?

Todd Saxton: We’re seeing a lot of businesses going through what we call “crossing the chasm” as it applies to their business model. Now is a time that, by necessity, these kinds of traditional patterns and shopping habits are changing and moving from being just a minority of the market to being the mainstream way that business gets done. And unfortunately, this is not likely to be a scenario where the light switch goes on one day and everybody starts walking into retail stores again.

SN: Many of our member companies rely heavily on a customer base with a healthy amount of disposable income. So when consumers begin to pare back spending on their hobbies and focus instead on necessities like food and medicine, what steps can a company take to keep their customers engaged?

KS: There are likely two consumer markets here: Do-it-yourselfers (DIY) and hobbyists. The DIYers are probably more price-driven, and there’s probably not much more you can do for them right now. But at the higher-income end of the hobbyist group, though, now is a great time to reach out because people can’t do anything on the weekends, for example. During the work week, they might be pretty busy, but on the weekends they can’t do anything.
Then you get that middle-income group of hobbyists who don’t have a tremendous amount of disposable income. So what’s the $50, $100, $200 product package that you can offer them instead of a $1,000 package? How can you repackage your product line so it will appeal to them? Another thing to think of is, car dealers aren’t selling because they’re “non-essential” businesses, but car servicing businesses are still open. So if it’s possible, now would be a great time to reach out to those businesses.

SN: How valuable is advertising in this economic climate? Given the likelihood of short-term economic contraction, should some businesses just pull back on marketing and advertising and try to ride out the storm until conditions improve?

KS: If you know who your customers are and you have their home addresses, direct mail in times like this can be successful because it’s inexpensive and you can even print it yourself. Also, for some people, mail used to be a bother, but now it might be one of the few inputs of the day that you have if you’re quarantined.

TS: Advertising-as-usual is not going to be effective. It has to be targeted. People are hungry for feel-good stories about how companies are making changes to better serve their customers during the current crisis. Companies are leveraging that into advertising and reaching out to local media. When you’re doing something to help people, it’s something that we see getting a lot of traction.

SN: A lot of our member companies—particularly the smaller ones—rely heavily on Facebook and other social media pages. How effective is social media as an advertising and marketing tool given the situation we’re in now?

KS: Extremely, they should definitely be active in social media, Facebook and Instagram in particular.

SN: Some of our members are retooling on the fly to help produce various medical supplies like ventilators, masks and face shields to help fight the pandemic. Could this sort of “product diversification” be something that we should think about integrating into our business model going forward?

TS: Again, this could be a “crossing the chasm” moment, but it’s a major pivot in terms of resources and capability as a longer-term strategy. On the other hand, if there’s a compatibility with your manufacturing capacity and human capacity and you realize it’s a good fit, then that’s something that could be a sustainable part of your business.

KS: It seems that we’re going to want to have more manufacturing of these products in the United States going forward. So having that capability, if it can be managed by the organization, is not a bad idea. And you should tell people about it right now through social media, on your website, with emails to your customers.

SN: Fast forward until we see that business is returning to normal. I’m working on recovering my business, or the local shop in my neighborhood went out of business, and I want to start up a new shop in place of it. What lessons from today should I take to be best prepared for unexpected events in the future?

TS: We would encourage particularly small businesses, with limited resources, to think of “concentric circles.” Who are your closest stakeholders, who are the people that are going to be supporting you? Maybe buy them gift cards or reward them by making them part of your “first wave” of reopening. If you’ve done things like setting up a really good customer-relationship management program during the leaner times, in times when you have more capacity you can broaden that messaging to your next wave of prior customers.

KS: You cannot move forward today without sophisticated online marketing. I think sometimes smaller companies think that it’s too hard or it’s not necessary. But only a Facebook page is no longer good enough for business. You have to have a website. There are types of website building software that are pretty easy to use. If you have a store, Shopify is an e-commerce site that lets you do it all yourself. People now are going to buy in a multi-modal way, and some people will want to walk into a store. Some people will want delivery. Some people are going to want to do the whole thing online and never talk to anybody. So you’ve got to be ready for all of that.

Sources:

Based in Indianapolis, Dr. Kim Saxton and Dr. Todd Saxton are professors at the Kelly School of Business at Indiana University and co-authors of The Titanic Effect: Successfully Navigating the Uncertainties That Sink Most Startups. They can be reached through their website, www.titaniceffect.com. 

By Douglas McColloch

Due to COVID-19, retailers are adjusting to variation in consumer foot traffic, developing new ways to maintain their customer relationships, and marketing to take advantage of growing consumer interest in online purchasing.

The sudden outbreak of the COVID-19 novel coronavirus has forced many companies to alter and adjust their existing business models. Brick-and-mortar retailers are adjusting to a reduction in consumer foot traffic, companies are developing new ways to maintain their customer relationships, and marketing and advertising strategies are being refocused to take advantage of a growing consumer interest in online purchasing.

We spoke about these subjects with Dr. Kim Saxton and Dr. Todd Saxton, professors at the Kelly School of Business at Indiana University, who offer practical advice for businesses to best anticipate and adapt to shifts and uncertainties in the marketplace. The following are excerpts from our interview, edited for clarity and length.

SEMA News: Among our member companies, point-of-sale retail transactions account for about two-thirds of total sales. For companies that are going to be impacted by reduced foot traffic, what are some policies and procedures they can put in place right now to help get them through the next six months?

Kim Saxton: Essentially, as business becomes more online, the key is to test more customer data. Now is a great time to go through your sales records, particularly if you have downtime, and identify who this group of really loyal customers are. Try and look at their shopping history and ask, what kinds of things do they buy? How can I reach out to them if they can’t come to the store? We don’t know how long this [COVID-19 outbreak] is going to go on, but people are starting to want entertainment. Is there a way that you could help them pursue their passion while they’re stuck at home?

Todd Saxton: We’re seeing a lot of businesses going through what we call “crossing the chasm” as it applies to their business model. Now is a time that, by necessity, these kinds of traditional patterns and shopping habits are changing and moving from being just a minority of the market to being the mainstream way that business gets done. And unfortunately, this is not likely to be a scenario where the light switch goes on one day and everybody starts walking into retail stores again.

SN: Many of our member companies rely heavily on a customer base with a healthy amount of disposable income. So when consumers begin to pare back spending on their hobbies and focus instead on necessities like food and medicine, what steps can a company take to keep their customers engaged?

KS: There are likely two consumer markets here: Do-it-yourselfers (DIY) and hobbyists. The DIYers are probably more price-driven, and there’s probably not much more you can do for them right now. But at the higher-income end of the hobbyist group, though, now is a great time to reach out because people can’t do anything on the weekends, for example. During the work week, they might be pretty busy, but on the weekends they can’t do anything.
Then you get that middle-income group of hobbyists who don’t have a tremendous amount of disposable income. So what’s the $50, $100, $200 product package that you can offer them instead of a $1,000 package? How can you repackage your product line so it will appeal to them? Another thing to think of is, car dealers aren’t selling because they’re “non-essential” businesses, but car servicing businesses are still open. So if it’s possible, now would be a great time to reach out to those businesses.

SN: How valuable is advertising in this economic climate? Given the likelihood of short-term economic contraction, should some businesses just pull back on marketing and advertising and try to ride out the storm until conditions improve?

KS: If you know who your customers are and you have their home addresses, direct mail in times like this can be successful because it’s inexpensive and you can even print it yourself. Also, for some people, mail used to be a bother, but now it might be one of the few inputs of the day that you have if you’re quarantined.

TS: Advertising-as-usual is not going to be effective. It has to be targeted. People are hungry for feel-good stories about how companies are making changes to better serve their customers during the current crisis. Companies are leveraging that into advertising and reaching out to local media. When you’re doing something to help people, it’s something that we see getting a lot of traction.

SN: A lot of our member companies—particularly the smaller ones—rely heavily on Facebook and other social media pages. How effective is social media as an advertising and marketing tool given the situation we’re in now?

KS: Extremely, they should definitely be active in social media, Facebook and Instagram in particular.

SN: Some of our members are retooling on the fly to help produce various medical supplies like ventilators, masks and face shields to help fight the pandemic. Could this sort of “product diversification” be something that we should think about integrating into our business model going forward?

TS: Again, this could be a “crossing the chasm” moment, but it’s a major pivot in terms of resources and capability as a longer-term strategy. On the other hand, if there’s a compatibility with your manufacturing capacity and human capacity and you realize it’s a good fit, then that’s something that could be a sustainable part of your business.

KS: It seems that we’re going to want to have more manufacturing of these products in the United States going forward. So having that capability, if it can be managed by the organization, is not a bad idea. And you should tell people about it right now through social media, on your website, with emails to your customers.

SN: Fast forward until we see that business is returning to normal. I’m working on recovering my business, or the local shop in my neighborhood went out of business, and I want to start up a new shop in place of it. What lessons from today should I take to be best prepared for unexpected events in the future?

TS: We would encourage particularly small businesses, with limited resources, to think of “concentric circles.” Who are your closest stakeholders, who are the people that are going to be supporting you? Maybe buy them gift cards or reward them by making them part of your “first wave” of reopening. If you’ve done things like setting up a really good customer-relationship management program during the leaner times, in times when you have more capacity you can broaden that messaging to your next wave of prior customers.

KS: You cannot move forward today without sophisticated online marketing. I think sometimes smaller companies think that it’s too hard or it’s not necessary. But only a Facebook page is no longer good enough for business. You have to have a website. There are types of website building software that are pretty easy to use. If you have a store, Shopify is an e-commerce site that lets you do it all yourself. People now are going to buy in a multi-modal way, and some people will want to walk into a store. Some people will want delivery. Some people are going to want to do the whole thing online and never talk to anybody. So you’ve got to be ready for all of that.

Sources:

Based in Indianapolis, Dr. Kim Saxton and Dr. Todd Saxton are professors at the Kelly School of Business at Indiana University and co-authors of The Titanic Effect: Successfully Navigating the Uncertainties That Sink Most Startups. They can be reached through their website, www.titaniceffect.com. 

By Ashley Reyes

Mike Brown

SEMA’s New Jumpstart Business Operations Webinar Series kicks off next week with “Making Sure Your Messaging and Tone Are On-Target,” Tuesday, April 28, and “Learning the Positive Lessons from Disruption,” Thursday, April 30. The half-hour webinars, available to all SEMA members free of charge, are the first of a six-course program created to help SEMA-member companies rise above the challenges resulting from the Coronavirus.

Presented by SEMA Education in partnership with Mike Brown, CEO and founder of The Brainzooming Group, the webinars are available to all SEMA-member companies at no cost.

“As members recover from the disruption that has resulted from the Coronavirus, SEMA is committed to providing tools and resources to accelerate the recovery,” said Zane Clark, SEMA senior director of education. “The feedback we’re getting is that there is a need for information to help succeed and adjust to the new normal. Our webinar series is designed to address the most pressing needs of the industry.”

Preregister now for “Making Sure Your Messaging and Tone Are On-Target,” taking place April 28, at 10:00 a.m. (PDT), “Learning the Positive Lessons from Disruption,” taking place April 30, at 10:00 a.m. (PDT).

Participants who preregister and attend a webinar may qualify to win a subscription to Brown’s “Strategy for Success: Strategic Planning Made Simple.” The 11-module e-course includes targeted video lessons, downloaded guides and turn-key exercises, valued at $549. This resource is designed to eliminate trial-and-error and quickly implement an innovative approach to strategy and create effective strategic plans that you can put into action right away.

*One winner per webinar. Winner can only win once. No purchase necessary.

By Ashley Reyes

Mike Brown

SEMA’s New Jumpstart Business Operations Webinar Series kicks off next week with “Making Sure Your Messaging and Tone Are On-Target,” Tuesday, April 28, and “Learning the Positive Lessons from Disruption,” Thursday, April 30. The half-hour webinars, available to all SEMA members free of charge, are the first of a six-course program created to help SEMA-member companies rise above the challenges resulting from the Coronavirus.

Presented by SEMA Education in partnership with Mike Brown, CEO and founder of The Brainzooming Group, the webinars are available to all SEMA-member companies at no cost.

“As members recover from the disruption that has resulted from the Coronavirus, SEMA is committed to providing tools and resources to accelerate the recovery,” said Zane Clark, SEMA senior director of education. “The feedback we’re getting is that there is a need for information to help succeed and adjust to the new normal. Our webinar series is designed to address the most pressing needs of the industry.”

Preregister now for “Making Sure Your Messaging and Tone Are On-Target,” taking place April 28, at 10:00 a.m. (PDT), “Learning the Positive Lessons from Disruption,” taking place April 30, at 10:00 a.m. (PDT).

Participants who preregister and attend a webinar may qualify to win a subscription to Brown’s “Strategy for Success: Strategic Planning Made Simple.” The 11-module e-course includes targeted video lessons, downloaded guides and turn-key exercises, valued at $549. This resource is designed to eliminate trial-and-error and quickly implement an innovative approach to strategy and create effective strategic plans that you can put into action right away.

*One winner per webinar. Winner can only win once. No purchase necessary.

By Ashley Reyes

Mike Brown

SEMA’s New Jumpstart Business Operations Webinar Series kicks off next week with “Making Sure Your Messaging and Tone Are On-Target,” Tuesday, April 28, and “Learning the Positive Lessons from Disruption,” Thursday, April 30. The half-hour webinars, available to all SEMA members free of charge, are the first of a six-course program created to help SEMA-member companies rise above the challenges resulting from the Coronavirus.

Presented by SEMA Education in partnership with Mike Brown, CEO and founder of The Brainzooming Group, the webinars are available to all SEMA-member companies at no cost.

“As members recover from the disruption that has resulted from the Coronavirus, SEMA is committed to providing tools and resources to accelerate the recovery,” said Zane Clark, SEMA senior director of education. “The feedback we’re getting is that there is a need for information to help succeed and adjust to the new normal. Our webinar series is designed to address the most pressing needs of the industry.”

Preregister now for “Making Sure Your Messaging and Tone Are On-Target,” taking place April 28, at 10:00 a.m. (PDT), “Learning the Positive Lessons from Disruption,” taking place April 30, at 10:00 a.m. (PDT).

Participants who preregister and attend a webinar may qualify to win a subscription to Brown’s “Strategy for Success: Strategic Planning Made Simple.” The 11-module e-course includes targeted video lessons, downloaded guides and turn-key exercises, valued at $549. This resource is designed to eliminate trial-and-error and quickly implement an innovative approach to strategy and create effective strategic plans that you can put into action right away.

*One winner per webinar. Winner can only win once. No purchase necessary.