3 Ways eCommerce Can Help Equipment Rental Companies Grow Their Business
The construction equipment rental market is a fast-paced and growing market that is innovating towards more convenience for suppliers and buyers. It's evident that the world has shifted to online marketplaces in virtually every industry, so how will building an online presence and implementing eCommerce practices grow equipment rental companies?
Studies show that over 80% of consumers research their product in mind before making a purchase decision and that business-to-consumer (B2C) habits do bleed into business-to-business (B2B) habits. It's safe to assume that prospective customers will want to do their research on your company before renting from it, and most of that is happening through online search engines in 2022. That's why it's so important to provide a user-friendly experience online whether that's being able to order online, having your details and company easy to search, or even having a simple website.
With the amount of change and information being written about eCommerce and digital media every day, we wanted to simplify it and compile a shortlist of reasons why your rental company should be creating an eCommerce strategy.
Establishing an Online Presence
Creating an online presence for your rental house will help it to grow, but how is the presence established? The most important step to building an online presence is a fully functioning website for your business. Or at least a website that has a list of all the products and an easy-to-use online ordering process and contact information. The website should allow for a user-friendly experience for customers that allows them to browse products, book rental equipment, and bring them through the proper insurance and credit applications. Basically, a strong website should allow a customer to do whatever they would have done in person, online. In establishing credibility and a presence online, a website is a must.
However, there are other ways to make a presence online that should be explored along with your website. Already having a website does not mean you should limit your brand's exposure. There are online equipment rental marketplaces that provide eCommerce experiences for renters everywhere that can bring in a lot of extra business. Becoming partners with these services and marketplaces can help increase business every month just by being where people are actively searching for equipment. Exploring how to get your product in more places while also trying to drive people to your specific website should be the goal of your business.
Websites with hundreds of thousands of users like DOZR allow heavy equipment and construction rental companies to display their equipment for rent on the marketplace as well as easily integrate online ordering for your business, whether you have a website or not. These marketplaces are crawling with hundreds of thousands of project managers, construction executives, site leaders, and contractors that need equipment regularly so it's a great way to expand your online presence and see more business.
Exposure to your Business
The greater goal of an online presence is to give your business as much exposure as possible. And as you're probably aware, consumers purchase goods and services from companies that they are familiar with whether that's in the food and beverage industry, clothing industry, or construction industry. If a consumer can't find you with a simple Google search but they can find your competitor, it will be hard to compete for that business.
And we know it's not always easy to start your own website. It takes a lot of resources and time to create, and if you're a small business, expanding to be online probably isn't your top priority. That's one of the reasons we launched WebStores - our digital solution for rental companies that allows you to easily build a customizable and dynamic online store with beginning-to-end online ordering.
However, exposure doesn't begin and end with websites. You should also be complementing your website and marketplace postings using social media. Not many companies are using it to their advantage and it can be a smart way to drive extra online traffic to your business. When talking about familiarity, someone that scrolls through posts and sees your content multiple times will unconsciously gain trust and familiarity just by seeing your brand and products.
Company Reputation
You have built an online presence which is giving your brand the exposure and awareness increase it needed. Now what? The concern now is what our consumers think about the experience you provided them. Were the website and online ordering process user-friendly? Did the rental transaction go as smoothly as promised? You need to make sure that your business is not only showing great things but also following up on your end of the deal.
We talked about how consumers research their products before making a purchase decision, and what most of them are initially looking for is customer reviews. Studies show that 89% of consumers read customer reviews before buying and that does not include word of mouth conversation. In business, you can make promises and guarantee a great experience but consumers trust the review of a customer, either online or in-person, more than the company selling the product.
Keeping that information in mind, we now must focus on making sure our clientele can affirm that our rental house is trustworthy and delivers quality service on time. Not all eCommerce industries have to worry about constantly returning customers, but that is a major component of equipment rentals. There's always another project and only so many rental companies you can rent from.
Using efficient practices to fulfill orders on time is key to building a strong positive reputation for your rental house. If you can manage to create a convenient online experience, allow your customers an easy online rental transaction, and fulfill the orders in a timely manner, your customer reviews will do a majority of the advertising for you. And you can always use customer review content on your social media platforms as well!
Starting Your Online Store
We've gone over 3 ways that eCommerce can help your heavy equipment supplier grow and how to achieve an online presence to make it happen. The most important part of making all of this work is executing what you promised. Your competitors are most likely building an online presence as we speak and it's important to not get left behind. Making changes in your business can take time but with the right partners, you can start booking online rentals tomorrow.
Time and effort are required to maintain a positive online presence that will allow consumers to find you, use your resources, and ultimately purchase your services enough to become repeat customers. ECommerce is the most growing business channel today and it continues to grow at an extremely fast pace in the equipment rental industry. Start your eCommerce journey today.
At DOZR, we're making the heavy equipment rental process easier for both contractors and suppliers as we've become the largest online equipment rental marketplace. If you'd like to try a touch-free, easily integrable, and customizable eCommerce solution at your company, request a demo today.
