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Stop Letting Customers Walk Away: Rental Conversion Secrets
Manage episode 491711477 series 3390181
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Why do some rent-to-own stores convert 30% of their customers to new agreements while others struggle to break 20%? The answer lies not in last-minute sales tactics but in the entire customer experience journey. In this eye-opening conversation, Pete Shau and Jason Winters dive deep into the real factors that determine whether customers stick around after completing their agreements.
The modern rental customer has more options than ever before. With just a few taps on their phone, they can find comparable merchandise from countless competitors. What makes them choose to continue doing business with you? It starts with deserving their loyalty through exceptional service, clean stores, well-presented merchandise, and problem resolution that exceeds expectations.
We explore practical strategies for improving conversion rates, from the timing of customer outreach (60-90 days before agreement completion) to bundling complementary products that enhance their existing purchases. Learn why loyalty programs represent a massive untapped opportunity in the rental industry and how delivery personnel can dramatically impact customer retention through their service approach.
Most importantly, discover why the fundamental question every rental business should ask is simply: "Do you deserve their business?" As Pete emphasizes, "Your PIF conversion starts when you say 'Hi, how are you doing today?'" The entire customer relationship—not just the final sales pitch—determines whether they'll walk away or sign a new agreement.
Ready to transform your conversion rates? Email [email protected] with your questions or connect with us on social media. Subscribe to our podcast for more industry insights that drive real-world results.
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Chapters
1. Tackling Conversion Challenges (00:00:00)
2. When to Start the Conversion Process (00:12:01)
3. Service Quality and Customer Experience (00:21:20)
4. Loyalty Programs in Rent-to-Own (00:26:52)
5. Store Presentation and Merchandise Display (00:35:41)
6. Building Value Through Bundling (00:46:02)
7. Earning Customer Trust and Loyalty (00:51:52)
8. Final Thoughts and Show Closing (01:01:45)
93 episodes
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