Recently we conducted a survey in order to gain an accurate profile of our readers. Since the subject of the survey is you, we thought you might be interested in the results and seeing how you measure up. Here's what we found:
The average Rental Product News subscriber's firm has been in business for 27 years. More than four in 10 (42%) have been in business for 30 or more years. The average number of employees at reader companies is 22, while more than one in five (22%) have 50 or more employees. In terms of sales volume, the average is currently $4 million, but more than one in four (26%) of our readers have revenues exceeding $10 million.
When it comes to choosing equipment to add to your inventory, "overall dependability" was rated as the most important issue to subscriber rental operations. The next important issue was "parts availability" followed by "dealer support/service" and "manufacturer's reputation." From the list of 15 issues to choose from, "financing availability from supplier" was rated as the least important, compared to the other issues, although it was still rated as important overall.
"Increasing revenues from existing customers" was rated the most important issue facing rental business operators. It was followed by "reducing insurance costs" and "finding, training and retaining employees." "Avoiding OSHA/EPA violations" was ranked next in importance.
Of primary importance to the editorial staff of Rental Product News were the results from the survey relating to how our readers feel about the magazine itself. While there is always room for improvement, we were pleased that 77% of our readers noted that "Rental Product News is right on target for my needs." A total of 62% of you say "the number of product-focused stories should increase per issue" while 55% say "there should be more coverage of economic trends/forecasting."
On a very high note, we are excited to report that 91% of Rental Product News subscribers read the publication on a regular basis, usually defined as reading at least three out of every four issues. A total of 70% say they read every issue they receive.
In summary, it's always helpful to get your finger on the pulse of your customers. In our case, that's you, our readers. We continue to try to bring you the information you most want and need to run your businesses successfully, but we are realistic enough to know we can always strive to do more. We hope that by trying to get know you better, that we can succeed in providing you with a product that you value.
Have you put your finger on the pulse of your customers lately? Why not do an informal (or formal, if you have the resources) survey of their opinions and preferences? The results should be enlightening.
