Opportunities for car rental businesses in 2020 and beyond – (Part-2)

Indhumathi D


As you are aware of the scope for car rental business from our previous post, now is the time to discover the top strategies to grow your car rental business and thereby boost returns.

Build your brand

With a greater scope, the car rental industry has become a highly competitive space. As there are many new entrants, you need to establish your brand among your target audience and create awareness for the same. This is the initial step to prompt them to choose you over the other industry players.

Automate your operations

Manual record-keeping and vehicle dispatch are both inaccurate and time-consuming. Use the car rental dispatch software to simplify and streamline your business operations. With a custom-made car rental software, you can maintain digital proof of vehicle documents and other legal agreements and keep track of your vehicles and resources in real-time.

Strengthen your online presence

Create an official website for your car rental business to mark your online presence and promote it with digital marketing techniques. Marketing your car rental service via online platforms helps you to grab the attention of a larger audience than offline strategies. Also, build an on-demand car rental booking application to help your customers avail your service as and when they want.

Develop industry partnerships

Collaborate with authentic car hire companies to be listed on their official websites. This way, the visitors to such websites are recommended to make use of your car rental service. Also, partner with various organizations such as healthcare centers, hotels, recreation clubs and other public spaces where the presence of your potential customers is likely to be strong. This helps you to take more bookings, engage more customers and transform opportunities into a profitable business.

Attract commuters with discounts

More than 90% of customers come back to service providers when they are provided with special offers. Attract your target audience with promo codes to be redeemed on their rides. This way, you make it genuinely compelling for them to avail your car rental service. Besides, giving referral bonuses to your existing customers and drivers can also help you to expand your customer base and workforce synchronously.

Stand in your customers’ shoes

Customer satisfaction is the key to business success and car rental service is no exception. Give your customers the confidence that their rides with you are comfortable and hassle-free. Facilitate your customers to book instant rides with you using license scanning and digital signature. Also allow passengers to pay for their rides in whichever method they want- cash, credit/ debit card or built-in wallet- once their rides are completed.

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