Rental Household appliances Market
The following is a Case Study conducted over a 4 month period, from
November 2019 to February 2020 showing the actual results for one of our clients. Included in this study are Google Analytics screenshots that highlight how we successfully create quality leads for the Rental household appliance, furniture and electronics industry.
Market Capacity According To IBIS World
According to IBIS World, the average industry growth 2014–2019: 3.0%.
The Home Appliance Rental industry has performed moderately well over the past five years. As living standards have increased and more people have looked to enhance their lifestyles with the latest and most innovative consumer products, demand for home appliances has grown.
Appliance pricing deflation has reduced the price of many imported home appliances, enabling more consumers to purchase kitchen, laundry and home electrical goods. However, some people are unable or unwilling to buy these products outright due to lower incomes, high debt or an aversion to purchasing depreciating goods. Instead, these people prefer to rent home appliances from industry operators. The industry rents out an extensive range of home appliances to consumers in various categories.
Industry Outlook For 2020-2024
Once again according to IBIS World, the Home Appliance Rental industry is forecast to continue growing at a steady pace over the next five years, as demand for home appliance rentals further increases. More people are likely to look to the industry for long-term rentals to avoid major initial outlays for appliances, or for short-term rentals for convenience. Additionally, industry concentration is anticipated to rise as Thorn Group (Radio Rentals, RR and RR Rentlo Reinvented) and mid-size firms such as Mr Rental and Rent4keeps attempt to increase their market shares through greater branding and higher customer numbers. These companies will also continue to benefit from economies of scale, due to high store numbers that reduce per-unit purchasing costs and management costs.
Opportunity To Increase market share
With the advent of social media and paid online advertising, the ability to reach a much bigger market in a cost effective manner has small and medium sized businesses excited by the ability to compete with those much larger organisations with deep pockets.
Below we have provided some stats that support the fact that large, medium or small organisations can take advantage of the opportunities that are available especially if they decide to use our infrastructure and sales funnels specifically designed for the appliance rental industry to increase market share.
case study partner challenges
Many of our current clients were sick of ‘Wasting Money On Agencies Who Don’t Deliver Results’. They had previously been promised leads by multiple agencies and were totally disillusioned.
When we deliver leads to you we make sure those leads come with specific information and requirements that your company and sales teams need to regard them as “Quality Leads”.
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The following are Google Analytics screenshots representing growth in website visitors using purely online systems to generate extremely qualified traffic.
Number of Users website: November 2019 – February 2020
Actual results from a Client currently purchasing leads
The following are Google Analytics screenshots representing growth in website visitors using online systems.
Over the period of 4 months from Nov 2019 until Feb 2020 29,240 users visited our sales funnel.
Number of Users to the website: July 2019 – January 31 2020
300% Increase in Leads
We have been able to increase 3x the traffic and this has resulted in 300% increase in new leads per day. We have gone from 10 leads per day to 30 leads per day. The only issue stopping this to grow further is the ability for the company to service those leads on time.
Conversion tracking was turned on in September 2019 as we increased the number of online traffic sources to increase traffic and leads.
By increasing the number of channels we have been able to diversify the source of leads giving them security in case a particular source changes and we are unable to recover quickly.
Default Channel Grouping
September 2019 – January 2020
Number of users/visitors 27,231. This is the total number of visitors across different channel sources.
For the 27,231 visitors we have created 3,371 Leads. That’s an overall 12% conversion rate.
For Social Media, out of 8,833 we have created 1,452 Leads. That is an 16% conversion rate to leads.
For Organic SEO traffic we have an 12% conversion rate to leads.
The Home Appliance Rental industry is forecasted to continue its 3% growth for the next 4 years and those companies who are willing to invest in Online Marketing strategies such as lead generation will certainly reap the benefits of what’s available now and into the future.
What Makes These High Quality Leads?
Our systems are tuned to target specific customers wanting to rent household goods, furniture, appliances and electronics. For our case study in Jan 2020 the customer received 1,271 leads and 801 of those completed a full application. If we then apply the industry standard of 20% Approved applications the result is 160 new sales. If the lifetime value (LTV) for a sale is $1000 per client then they stand to make $160,000 for those 1,271 leads.
Furthermore, there is a huge opportunity to retarget those leads that did not complete an application and those applicants that may not have been approved at this point in time and could be eligible in the future.
What is a Sales Leads These are leads who give their first name, last name, email address, home address and phone number and the product that they want to purchase.
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We work closely with you to establish the point at which a site visitor becomes a lead. We then price that point appropriately and agree on a price per lead.
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