[How-to] Grow Your Rental Business with the Opportunity Pipeline

The Opportunity Pipeline feature in EZRentOut enables your rental businesses—small, medium, and large—to efficiently track and optimize customer interactions throughout their lifecycle. 

The customer opportunity pipeline moves through several stages, From New Prospects to Lapsed customers, and customers can be manually marked as Engaged. It provides quick insights into different rental order states: Drafted, Stalled, Booked, Rented Out, and Cancelled. 

Benefits of the Opportunity Pipeline

Here are a few benefits the opportunity pipeline provides you by giving you quick access to the customers and orders pipelines:

1. Increase your engagement opportunities

Maximize customer value and retention by identifying key opportunities for engagement and re-engagement. Target your marketing and sales efforts based on your customers’ activity or inactivity.

2. Enhance and utilize customer insights

Assess customer behavior and preferences by viewing insights into their renting patterns. Predict future trends and proactively engage them to offer rental experiences tailored to their needs.

3. Optimize and streamline your rental revenue

Identify and categorize inactive customers and stalled orders. Take the required actions to engage them and reactivate business opportunities. Get a greater return on investment on existing customers.

Note: The Opportunity Pipeline is currently in BETA and available to Premium and Enterprise customers.

Why use the Opportunity Pipeline?

The Opportunity Pipeline feature enables rental businesses to streamline their sales and marketing efforts by automating customer engagement. For instance, you can easily automate customer segmentation into Prospect, Lapsed, and Engaged states.

 It is an all-in-one solution that helps optimize sales and improve customer and order management workflows. 

1. Using the Opportunity Pipeline

This guide provides step-by-step instructions on using the Opportunity Pipeline feature in EZRentOut. It explains how to analyze:

Customer Pipeline Sections	New Prospects, Lapsed and Engaged
Order Pipeline Sections	Drafted, Stalled, Booked and Rented Out

Learn how to use the Opportunity Pipeline:

2. Taking In-line Actions within the Opportunity Pipeline

You can now take several actions on Orders directly from the Opportunity Pipeline rather than switching between screens. The following actions can be taken for different states that your customer is at:

• Send Email: Manage communication and efficiently send emails to follow up with customers
• Create Order: Create an order on the same page with minimum clicks
• Mark as Engaged: Mark customers who you have talked to as engaged
• Assigned To: Add assignee/sales representatives to your order
• Charge Payment: Send payment details to the customer and process payments for rental orders
• Rentout: Refers to the stage where a customer is converted into an active rental order

To do so, go to the Order you want to take action on and click on the icon to initiate the action. 

That’s it! You are all set to use the Opportunity Pipeline to manage your customers better.