Wasted inventory collecting dust? Slow moving inventory can be a real pain as you see your investment not bringing desired returns. Creative management and marketing of your inventory could help increase your returns. The software’s built-in and add-on tools open up your options to do that. Find five ways you can implement these tools today.
Create Packaged Deals with Low Volume Rentals
Recently, we released an update that allows you to package your items in simpler, smarter ways. Figure out how the inventory you have could be paired with more popular inventory. Generate a landing page that speaks specifically to that sale and tweak as needed.
Send Automated Emails
Communicate with customers at the right time to inspire them to take action. Highlight new ways they could build off their past events by trying new inventory.
Make the special your Call-to-Action (CTA) and craft your email around that message. For instance, give customers the option to share their or their kid’s birthday month. Segment these customers to twelve different lists, one for each month, then schedule an email to go out during their month. Offer them the opportunity to grab a birthday discount on your slower moving items. Giving them a “birthday package” is a targeted way to make your customer feel special while offering them new inventory options.
Another good option is to send an auto email that goes out 1 week prior to an event that tells the customer if they call in now, they can book one additional item from a select list for half price.
Find Out What the Customer Thinks
Sometimes a mediocre performer is just that for a reason. Build satisfaction survey questions into your post-event follow-up with the customer. Select a few underperforming inventory items and create questions using the software survey tool that asks if customers would book the item and why or why not. Understanding your customer’s buying behavior towards your inventory allows you to make better purchasing decisions in the future or decide when to post it for sale.
Get More Workers with Less Work
One of the biggest frustrations is a lack of reliable workers to handle an increasingly complex delivery schedule. Your inventory is ready to move and the demand exists, but you know your team can only handle so much and you can only manage your team to an extent. A creative solution for this is to hire more workers and give them space to self-manage. Put out a call for workers to join the open pool. Then give your best and reliable workers access to schedule priority shifts on their own. Other workers can schedule on their own but only using what was left. Soon workers will self-select their shifts. Then it is your job to make sure you rank workers according to their performance.
Have Less Inventory
Maybe space is your issue? If you’re just starting out, have limited space, or aren’t prepared to take on more inventory, but know your customers want more. One option is to partner with friendly-businesses and do inventory sharing using the software vendor tools. In this video, we discuss how to set it up.
Inventory management is and will be a key tool in maximizing sales success for your event rental company. Getting your inventory to perform and produce the profits you're looking for takes the right tools to control your sales, email, website, employees. Having an all-in-one system like the software can help you manage it all from a single view. Need help solving your inventory problems, contact us today.