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Listing and renting tips.

Here are our top 5 tips for listing products in the Rentals category:

Rent out expensive items that are typically purchased

Because the rental market has expanded beyond housing and transportation, consider renting out other expensive products. This gives customers a chance to rent something that they might not be able to afford otherwise, which could be great for your business!

Offer short term rentals of expensive products

A short term rental (such as 24 hours) will allow a customer to test the product before they buy it. Some customers might be a bit hesitant to spend a lot of money on a product upfront, so a short term rental gives them a chance to first test the product while only spending a little bit of money. This trial period will most likely convince the customer that the product is indeed the right one for them, however, if they decide not to purchase it, then you aren’t at risk of losing any money. Just make sure you have a good set of terms and conditions in place!

Make use of coupons, discounts or flash sales

Coupons, discounts and flash sales are among the most popular incentives for increasing sales and driving traffic to your store. They create a sense of urgency for the customers and apply a bit of pressure for them to make the purchase. If the sale is also then paired with a stock count (that the customer can see dwindling) or a countdown timer, it can promote an even further increase in sales. Don’t forget to promote any coupons, discounts or flash sales on social media as well!

Leverage commercial holidays

Do you know of any large sales events or commercial holidays? Then hop on the sales bandwagon! These sales, especially festive ones in the last quarter of the year, are some of the most profitable. Think Black Friday, Cyber Monday, Christmas and New Year… but this is not to say that smaller, unusual holidays are insignificant. For example, Dress Up Your Pet Day in January would be an amazing holiday to celebrate if you sell pet clothing! Take advantage of any holiday by building creative campaigns and offering exclusive deals.

Offer free gifts or specials

Everyone loves gifts and specials! When you provide powerful incentives for your prospective customers, it usually results in an increased average cart value (which is an important operational metric, essential for the growth of your store). A free gift could be added to a bookable product as a resource, or you could create discounted prices using booking cost rules or participant cost rules.

Tip:
Keep an eye out for more tip boxes like these at the bottom of our articles for additional tips!

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