Let’s take a simple example of a Party Rental or Hire Company.

A customer has come in to hire a Spit Roast for the weekend, value say $75.00

Items that may also be of use to the same client, could be serving platters,  carving knives, a condiment holders, an electric meat warming tray etc.

The spit roast hire price, with gas may be have been $75 for the weekend.  But offering the related items may increase the hire price well over $100, an increase of 33%, which would be nice if it could be achieved across all orders.  The 33% figure is taken from anecdotal evidence received from our customers.

So here are some suggestions on how to do it!

Start from the Customers Perspective:

Customers when they are looking to hire or rent something from you have an idea for an event, party or task that they going to have or do.   The vast majority of sales staff merely respond to the customers specific item requests.

Good practise is to aks the client what are they planning to do?

Engage them in a conversation find out what they want to do, it is just a conversation it doesnt hurt.  Once the you or your sales staff have determined what the customers event, idea or task is, then you can begin to suggest other items.

Approached in a conversational tone the customer doesnt feel threatened by a hard sell.  For example:

Sales Rep:  Oh so your having a Spit Roast  for your son’s graduation at you place on the weekend.  That is great, how many people are you expecting.

Client:  About 30 people

Sales Rep:  Wow that is a lot, have you got tables and chairs, cutlery and plates etc?

Client:  Not sure

Sales Rep:  We have a lot of clients who have Spit Roasts parties like you are having, so we put together this Spit Roast package based.  It includes all the common items people were renting from us but we have bundled it in to a specially priced package.

This approach to offer a promotional package, is actually about turning the vast range of choices a customer has into a product offer.  Whilst people talk about liking choice in truth most don’t.  Giving them a “product” that suits there needs eliminates the need for them to think and the risk to them.

In relation to risk, consider the pyschology of a client.  In the above example if the father comes in to hire a spit roast for the Son’s 21st.   His selection of what is needed is based on his planning, so if he gets it wrong they chances of being “stirred up” by his friends and family are quite high.  However if he selects your “productised offer”, then he has in reduced the risk of him being a source of jokes at the event or task.  In effect you are doing him a favour!

Creating a Promotional Package

So how to create a promotional “product”.

HireEzy (the world’s most innovative hire software and rental software)  provides both the analysis tools and in-built marketing tools to both determine what should go in a package and the production of a high graphic brochure (digital or print).

Creating these packages is incredibly easy, but the value they can provide to your business can be exceptional.

Generate Leads

If you do produce a promotional pack, then why not send it out to your previous clients.  Use the inbuilt customer data base to send out emails with the brochure attached to your clients.  Make sure you include an opt out option for them on the email.  These tools for in-built in HireEzy are exceptionally easy to use and the results some clients have obtained have been impressive.

Web Crossing Selling

Research shows that over 50 % of new leads come from the web.  But most hire and rental companies have very limited sales presence on line.  Even fewer have an ability to cross sell or up sell to on-line customers.

HireEzy includes a fully integrated on-line site that allows customers to place booking requests directly into your system.  Not only does this substantially reduce your costs it also includes in-built workflow solutions that enable you to up-sell or cross sell more to such customers.

Summary

The aim of cross selling or up selling is to increase the revenue per client.  As discussed achieving 33% increases in revenue per sale are common.

Achieving this increase requires a combination of good staff training and a supporting hire software or rental software system, such as HireEzy.  The key point is that Sales Staff up selling or cross selling can be assisted by the use of HireEzy.  The result is that you can achieve substantial improvements in sales per customer.  For more information for to www.makinglifeezy.com.au

A survey of HireEzy clients and prospects revealed some interesting insights into the major sales lead sources for rental and hire companies.

Whilst there was a range of results, those that clearly lead in their rental or hire market segments all showed similar statistics.

The clearest result was that the leading hire and rental companies in Australia, UK and the USA now generate over 50% of all new sales inquiries from their web site. This can be a combination of direct web submitted inquiries or customers who have checked out their web site prior to calling.

Secondly that most now find Yellow Pages or Yellow Pages on Line a rapidly declining source of new business. One customer with a long established business, cited that his father use to spend $25 000 a year on Yellow Pages, they now spend less than $2000. The reason is that yellow pages is no longer the major source of new business for them, rather it is business from the web.

Compare yourself to the best performers from the survey!

If you are below these benchmarks, then here is what they were doing.

The websites of those that were successful in achieving more than 50% lead generation, demonstrated some common characteristics:

· Frequent changes to the content;

· Ability of customers to view their hire and rental catalogue;and

· Ability of customers to place orders.

Cost of website development to achieve this frequency of change and maintain catalogue updates was however cited as an issue.

Now this is where HireEzy comes in to its own, HireEzy enables you to make changes in your back end catalogue and have those posted straight to your web site. The Website provided by HireEzy also enables customers to create booking requests, these booking requests then appear as sales leads in your HireEzy system.

The attached brochure provides more information.

This solution is perfect for:

· Party Rental and Party Hire;

· Fencing Rental or Temporary Fencing Hire Companies

· Tool Rental and Tool Hire

· Equipment Rental and Equipment Hire

· AV rental and AV Hire

In fact most companies who hire or rent products or services!

No wonder HireEzy is the innovation leader in the global hire and rental market.

For more information go to www.makinglifeezy.com.au or download our brochure at the top of this post!

]]> http://www.hireezy.com/index.php/294/rental-and-hire-company-web-lead-statistics/feed/ 1 http://www.hireezy.com/index.php/572/572/?utm_source=rss&utm_medium=rss&utm_campaign=572 http://www.hireezy.com/index.php/572/572/#comments Wed, 11 Nov 2009 02:00:25 +0000 HireEzy Research http://blog.makinglifeezy.com.au/index.php/572/572/

The primary purpose of most Marketing for most Small to Medium Businesses is to generate leads.

However many of the traditional Hire and Rental Company marketing techniques and tools that have been the bedrock of the industry are now being challenged.

• Yellow Pages.  Yellow pages is declining
• NewsPaper.  There very existence is under threat
• Television. Advertising decline

The problem faced by traditional media is substantial and in some cases probably terminal.

To understand the problem traditional media faces,  view the slide deck below.

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