Simply mentioning the words incremental sales seems to conjure up so many images. Most often, it’s not the image of a satisfied customer, but one who has been pushed or pressured. Let’s dispel the negativity and explore the true benefits of incremental sales — for the consumer and the rental company.
What exactly are incremental sales?
The term refers to the revenue above the base rental rate (time and mileage). Incremental sales yield is calculated by dividing incremental revenue by the total number of rental days. Some of the items included are change of equipment (upgrade, upsell), loss/physical/collision damage waiver, supplemental liability insurance, renter’s liability protection, personal accident coverage, personal effects coverage, emergency sickness protection, baby seats, ski/roof racks and fuel options.
Too often, sales presentations are viewed as a means for pressuring people to buy things they may not need. Actually, people love to spend. But people buy for their own reasons. People love to buy, but hate to be sold to.
Zig Ziglar, a renowned sales and service expert, often says, “Most buyers don’t know what they want until you show them why they should want it.”
The reality is that success in incremental sales is not about playing tricks to get people to buy things they don’t want or need. It’s about learning to present the products and services in a way that encourages people to make informed buying decisions.
Overall, the objective of every operation should be to provide five-star customer service with integrity and professionalism to every customer. Customers who experience this service will return again and again. Most people who receive great service are willing to pay for it.
The total experience involves a variety of considerations: facility appearance, expediency of the rental and return process, the rental process itself, shuttle service, vehicle quality, rates and value, and the friendliness and helpfulness of the rental staff.
Sales are a big part of that experience. There’s value in helping customers get the right vehicle, get the appropriate coverages, and save time through the refueling service. These services are as important as the items listed earlier.