5 secrets on how to be hyper efficient with your rental business
By Christian Wilkens
As a rental business owner, you know that time is of the essence. There are always things to be done and not enough time to do them. However, there are ways to be more efficient with your time so that you can get more things done. Here are 5 secrets on how to be hyper efficient with your rental business:
- The benefits of self service gateways
- Automate your workflow
- Outsourcing your marketing efforts
- Use software with integrations
- Product feature – Send notifications before and after rental
The benefits of self service gateways
The self-service system is an increasingly popular and user-friendly way for customers to retrieve their rental product without any assistance from a shop employee. After a booking is placed, the customer receives an automated notification about how to access the self-service gateways utilizing a third party solution such as SMS or a mobile app. The package, object, etc., are then easily accessed with no need for additional verification.
The self service technology has certainly revolutionized the rental business market and greatly improved convenience for both customers and rental company managers alike.
Listen to the podcast: Self service rental solutions
Automate your workflow
Online booking systems or rental softwares are becoming increasingly popular as they are the most efficient way to automate your workflow for your rental business. This technology makes it possible for customers to book appointments or services directly through your website.
Not only does this save you time by eliminating the need to reply to email or answer calls, online bookings can help increase your sales by making it easier and more convenient for customers to book equipment or service without having to wait on a representative. Moreover, these tools also make the job of managing inventory and orders much easier as all the necessary information is accessible from one centralized location. It also helps eliminate the possibility for double bookings.
Investing in automation workflow is quickly becoming essential for rental businesses looking to streamline their processes, improve efficiency and boost revenue.
Outsourcing your marketing efforts
When it comes to marketing your business, you have two main options: do it yourself or use a marketing or web agency. There are pros and cons to both approaches and the best option for your business will depend on a number of factors.
If you decide to do it yourself, you’ll need to make sure you take care of your website and that your images, keywords, and content are all optimized for search engines. You’ll also need to create a strong link building strategy as well as manage your Google profile and reviews. While this can be a lot of work, it can also be very rewarding to see your hard work pay off with increased traffic and sales.
However, if you don’t have the time or inclination to do all this work yourself, an agency can be a good option. They will handle everything from SEO to content marketing to email marketing, and they can often get better results than you could on your own.
Use Software with integrations
Software integration is the practice of connecting and unifying different types of software parts or subsystems. Integrating with external systems and tools not only helps you manage your business better but also helps you expand your capabilities. With integrated solutions, you are empowered to improve customer engagement, automate administrative tasks, simplify complex rental processes and create an enhanced user experience for customers.
It can include payment options that allow customers to make payments quickly with fewer steps involved in the process thereby improving their satisfaction levels with your service. It also includes accounting software, self-service options and marketing tools which automate rental operations and streamline customer journeys.
It reduces manual labor as well as errors from manual data entry while giving you access to valuable insights about your business that can help in making informed decisions faster.
Product feature – Send notifications before and after rentals
Now to our final secret on how to be hyper efficient with your rental business. This one is more product feature specific and one of our favorites.
After a customer has made a booking through an online booking system, the business can send them an email or a sms confirmation which will include all the relevant information about their subscription or equipment reservation. This is a great way to ensure that there are no misunderstandings about when and where the rental is taking place, and it also leaves a positive impression with the customer.
Additionally, businesses can take advantage of notifications before and after rentals to maximize profit potential. Consider sending out an email to the user the day before their return time with an offer to buy or prolong the rented product for a nice discount. This way you can get rid of products before they are too worn out to be rented out more, and make an extra profit at the same time. It’s truly a win-win scenario for both customers and rental businesses alike.
How to learn more – eBook
If you’re looking for an easy way to know all the rental industry strategies and product features that you need to grow your rental business, read our free E-book on how to scale your rental business. This is a must read for any merchant who wishes to obtain all the industry knowledge to grow their business. Take advantage of our expertise and many years of experience.
What else are you going to do now?
When you are ready… Here are 4 ways we can help you expand your rental business!
- Do you want to grow your business today? Try Sharefox rental system for free – or book a demo and get a personal expert to analyze your company’s situation, come up with solutions on how you can streamline your methods and create a more profitable company.
- To learn more about the Sharefox rental system, read about trends and news for free, visit our blog or visit our resources section in the main menu. Here you can download guides and e-books that we also share with our customers.
- If you want to work with the circular economy and Saas and want to be part of the Sharefox team or find out why we are one of the fastest growing rental platforms in the rental industry, see our job postings here.
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