Now that the holiday shopping season is behind us, I often wonder why the equipment rental industry doesn't employ one of the key methods that all major retailers like Macy's, Nordstrom, Dillard's, Best Buy, etc. use to get information about their competition and the products they sell.
How is it that these companies can sell the same items, in the same locations, to the same customers and still be profitable? Well, the answer is quite simple -- all of these companies have "Secret Shoppers"!
How does this apply to the equipment rental industry, you ask? Let me explain. In order for these companies to be competitive, they have to know what their competitors are selling similar-priced items for in each market. After all, a sweater is a sweater, a blender is a blender and a Blue Ray player is a Blue Ray player. Much like a scissor lift is a scissor lift, a plate tamper is a plate tamper, and a backhoe is a backhoe.
How would you do it? What would you ask? When was the last time you compared your rental rates to your competitors rates? If you got the information, what would you do with it?
If you'd like a free demonstration of the power of the "Secret Shopper" but don't know where or how to start, drop us an email at [email protected]. Our EquipOne team can develop a "Secret Shopper" program for your rental company at no charge, and show you the power and potential increase to your bottom line by using this time-tested marketing technique.
In the meantime, we at EquipOne would like to wish everyone a very Merry Christmas and a happy and prosperous new year!
