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

The Opportunity Pipeline (BETA) feature is only available on Premium and Enterprise plans

The Opportunity Pipeline feature in EZRentOut rental software offers your rental business instant tracking and optimization of your customer interactions across the customer lifecycle.

The customer opportunity pipeline directionally moves from New Prospects to Lapsed customers and customers can be manually marked as Engaged.

It also provides quick insights into different rental order states; Drafted, Stalled, Booked, Rented Out, and Cancelled.

It is ideal for business owners and sales teams looking to maximize customer engagement and revenue generation.

The Opportunity Pipeline helps manage customer relationships throughout the renting lifecycle, for small, medium, and large rental businesses.

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 your customer insights

Assess customer behavior and preferences by viewing insights into their renting patterns. Predict future trends, and proactively engage with 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.

Uses of the opportunity pipeline for rental businesses

The opportunity pipeline enables your rental business to streamline its sales and marketing efforts to boost revenue by automating customer engagement.

From the initial order to repeat rentals, maximize your revenue by engaging your customers at stages where they may have halted.

Push forward your booked rental orders that have not been rented out for a specific duration.

With the opportunity pipeline, ensure optimal allocation of sales and marketing resources. Improve your customer retention in a competitive rental landscape.

It is also helpful for rental businesses that manage a high volume of customer transactions, and recurring orders from the same customers.

Leverage the opportunity pipeline to automate customer segmentation into Prospect, Lapsed, and Engaged states. Tailor promotional and communication efforts to take advantage of these missed opportunities.

Use the Opportunity Pipeline in EZRentOut

What’s next for Opportunity Pipeline

The Opportunity Pipeline is currently in BETA

The future enhancements will bring action buttons within the Opportunity Pipeline so you can instantly take the necessary action to re-engage your customers or push forward your orders; all within the same page.