SOURCE – https://www.openpr.com
The car rental industry is experiencing a constant rise in terms of growth from 2013 to 2017. Studies prove that there will be a massive increase by 2023 due to the continuous improvement in this industry in terms of all aspects like the contribution of technology.
This market can be divided into 3 main sections such as vehicle types, locations and technology.
When considering types, there are Luxury, Economy, SUV, Sedan and Compact cars. Location is also important to consider because based on the locations the demand for rent a car varies whereas the highest demand for car rental today is in North America. Having the required vehicles in the selected area alone doesn’t work since managing everything to lead a proper business is paramount and that’s where the technology takes place. Top 5 car rental influencers of the industry are mentioned below.
It is advisable to try one of the mentioned car rental platforms to gain a new experience in terms of all aspects, if you are a car rental company it would benefit you as it can contribute to your business in several ways like it can give ideas to improve sections of your business. In addition, to experience a whole new level of booking, it is a must for the users as well to try these at least once.
Vehicle utilization is an extremely important area for companies looking to increase efficiencies and cut the costs of their operation. The truth is, all activity sectors of a fleet needs to be investigated and assessing fleet vehicle usage is something that can help a fleet run more efficiently and at optimum cost.
Testing vehicle activity every minute and their actual usage is vital. Technology today provides a useful aid in doing this and may be used in step with specific needs. It permits users to test for time spent at locations, in order to evaluate if some can be used differently or whether there is time available for different scheduling. If you can grasp all this, you’ll appreciate just how much can be done. There’s an interesting feature called daily planner, which is like a calendar where bookings and contracts associated with each vehicle can be monitored and manipulated and this feature is available only on Navotar – The advanced car rental software.
Vehicle usage isn’t only about utilizing the vehicle to its maximum, but it’s also about keeping them running all the time and minimizing any possibilities of breakdowns. Regular maintenance is vital and systemizing this approach with a software like Navotar would be applicable if your fleet consists of 5+ vehicles.
It is very important to have reports which outline the state of the vehicle and the revenue generated from it and if it presents data in an intense manner, that would be more interesting. This is a definite feature that can be generated from Navotar, in addition the reporting in Navotar has also go filter option where the information can be pulled according to the user’s conditions.
In conclusion, vehicle utilization is an important factor to be considered in terms of maintaining the fleet at an optimum cost and in road which would ultimately contribute to increased profit.
SOURCE – Customers Engagement
Rental car businesses have flared up and provide services for travellers who will opt out for a vehicle rather than using public transportation. It continues to cater to travellers who are going on business or for leisure travel. You need to use a strategic plan to drive customers to make a purchase from your rental business. You will not see results overnight, but you will need to ensure that you understand the needs and requirements of the customers, how to be creative and grab the attention, and provide amazing & exciting deals that will have them anticipating for the next deal.
You might have had a great business model and plan when you first began your car rentals. However, you would need to relook at it and see if any further amendments are required in order to stay up to date with the trends of the market, technology, vehicles, rates and your employees.
Let’s not forget the competition analysis that you need to do about the other car rental companies that are available in the market. You might come across national or local chains, which will try to replicate one another and the services. If one company has a popular and successful program, then the other companies will try and replicate to avoid losing their customers to this successful program. However, you need to match the competition but in a more creative way.
You should identify the best employees and reward them. The more you reward them, the more they want to work harder for the car rental company. Employees are a great part of your organisation; without them you are nothing and with them you are everything.
You need to be obsessed with the car rental’s numbers. Looking at numbers will help you understand where you stand from the previous years. If you want to increase your numbers, then you can use the previous figures and create a forecast as well. A few factors that you can consider for benchmarking are reservation earnings, rental lengths, utilization, vehicles and even your profit and losses. This will help you to create an image of your business.
Any guest who visits your website will be looking for all the information that you can possibly provide in one place. Many guests would not like to call someone, and due to this you must check through each piece of data that is not available. Therefore, the most important thing you must provide apart from the information is transparency and by that being able to build a relationship of trust.
Rental booking companies on the Internet are perfect, as you will have all the information. However, what most websites lack are updates. You need to make sure that every time your rental upgrades or purchases a new addition to the fleet, the information is update or added on the website. Let’s not forget about updating information about all promotions and discounts with all the details that the guests need to know. Keeping your potential clients up to date is vital in order to persuade them to hire out a rental vehicle from your company.
Photographs are just everything that you need to get the sale. Descriptions are vital but once the potential customer see proofs against the descriptions, you don’t need to worry about closing deals. Ensure that the photographs that you use are of highest quality. You shouldn’t upload captures that are of poor quality and does not seem enticing enough for the guests. The techniques that are applied when taking photographs need to spot on. Ensure that you have the right equipment and you use the correct lighting techniques.
Reviews are very important for a website because it captures the experience of the customer and their purchasing process. A company needs to ensure that they focus on all aspects of the customer experience, which will help you understand your customers and give you a better understanding of what and where you need to improve in your services. You need to regularly check the reviews that are being posted because it can vary at times. You need to make sure that you address the bad reviews, which will allow you to reach out to the customer and try to rectify the bad experience. This will only show your customers that you are dedicated and making a commitment as a business towards your guest experience. This will help you retain the customers who have had an experience in either ways, increase your reputation and attract new potential customers!
A great way to sell your car rental is to offer a special combo. You can consider offering deals for hotels that will offer a special tariff. When you refer customers to the hotel, you will be having customers from referrals and that would turn to a good source of income as on you go.
You should be able to provide all details in a rental agreement. This will make sure that your customers will acknowledge these terms, conditions & penalties. This will ensure the safety of your business. The more details that you have in the agreement, the more ground you will cover.
You need to ensure that the fleet you have is up to date and they are maintained regularly. Even if it is second hand vehicles, the vehicles should be in safe conditions and have all safety gadgets attached. You need to keep the vehicles clean as possible.
It is also important to systemize the entire process to improve the efficiency & the effectiveness of the company in all aspects and there nothing to worry about this, as Navotar – The ultimate car rental software go your back. To dive in, check out https://navotar.com/.
SOURCE – Funny.Kim
Are you operating a car rental company and having plans on improving your way of operation for 2019, but have no plans for execution? If it is so, this article is for you.
The first and the foremost important point in all businesses is to systemize the entire process as it would help to gain control over the entire business in a smooth manner, while having a balanced work and a personal life. Systemizing the entire rental process would sound impossible to some but it is possible and there are a lot of car rental entrepreneur running their entire business without the use of papers by using specialized car rental software like Navotar. The benefits of using a car rental software is that it helps to manage reservations, contracts, vehicle, customer, reporting, service scheduling and many more. But car rental owners must make sure to go with the right software and the best example of it would be Navotar.
This is a fast-evolving era in terms of technology and if you don’t keep with its pace, your business would suffer. Systemizing the entire process is not yet done since what we spoke earlier would only help the company in terms of management and there is more which are minor but would help to increase the flow of money coming in a huge and an unexpected way.
The above-mentioned facts are true and 100% effective. This would be a great start for those willing to change in terms of car rental companies in 2019 and a very happy new year to all out there!
Once again don’t forget Navotar, your one stop solution provider for car rental companies.