AI: a Game Changer for Your Rental Business in 2024

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AI: Is a Game Changer for Your Rental Business in 2024

Let’s face it – running a rental operation is challenging work. The last thing you need is for profits to dip because of rising costs and changing markets. That’s where AI, or Artificial Intelligence, comes into play. It’s not just tech talk; it’s the next big thing that can help you maintain a strong business.

Think about how the Internet changed the game. Before 1991, if you needed to find a rental, you flipped through the Yellow Pages and made calls. It took time. Today, you Google, read reviews, check inventory, and find what you need in seconds. AI will make a bigger splash than the Internet – it will change how we work and the speed at which we work within our business. Those who adopt early will benefit.

Here are four ways AI can make life easier for you and your business:
1. Use AI to Work Smarter, Not Harder

AI is like having a super-smart assistant who doesn’t take coffee breaks. AI can analyze your historical data and spot patterns that tell you what your customers want, when they want it, and even what you may want to add to inventory. AI analytics remove the less-than-accurate gut-check decisions. AI gives you more time with your customers. AI provides the information you need to make the right choices about growing your business without sweating over spreadsheets or paying expensive consultants.

2. AI can Keep an Ear on the Ground

AI listens to every customer call and scores those calls against your unique call scorecard. AI then provides insights on why you win and where you are losing bookable opportunities. With that knowledge, you can adjust how your team engages with your customers to turn more of their calls into bookable events.

3. Your Virtual Crew Member

AI is an extra pair of hands for less than you pay for monthly coffee. AI can handle much of the busy work, allowing your team to focus on what you do best – serving your customers. AI-driven customer insights enable you to attract better employee talent, and AI allows you to coach and train your team more effectively. Highly qualified employees are more successful and more likely to stick around, lowering your overall hiring and onboarding costs. Coaching your team with AI-driven data keeps your team in zones of success and provides efficiency and profit to your bottom line.

4. Guard Your Reputation

AI has your back in protecting your good name. AI can identify in a conversation when a customer expresses unresolved concerns or high levels of frustration. AI can then notify you to jump in and make it right before they post a bad review. That way, you keep your customers loyal and your business’s ratings high.

AI’s here to stay, and AI is not just for the big shots. It can make a difference for the hard-working folks running rental operations. Want to see it in action? Fill out the form, and a call expert will contact you shortly. 

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