www.rtoonline.com

Total Marketing Plan
Scott Brinker
Consultant
Rent to Own Operations

Factoids

Your customer information database is GOLD
Combine in-store program with media for maximum effect
The telephone is your best tool
References are as valuable as customers

The 'good ole days'
Gone are the days when we could wait around for customers to come into our store. Today, we need more creative ways to “find the business”. More than ever, we find ourselves competing against traditional retailers. “Mega-Super Stores” sell appliances, electronics, and furniture at close to wholesale prices. They are extending credit to consumers they may not have considered in the past. We find ourselves working harder than ever to earn the business of today’s consumer.

We do, however, have a clear advantage over traditional retailers...Information

  • Customer’s address and telephone number

  • Names, addresses and telephone numbers of friends and relatives from the rental order.

Major retailers have nowhere near this level of detail about their customers.

The Total Marketing Plan
The total marketing plan is a two-step process that includes both traditional media advertising and a store-level solicitation program. While media advertising is effective when properly planned, it cannot be solely relied upon to grow your business. Media advertising will, in effect, provide leads, but a store-level solicitation plan will ensure that the leads receive the follow-up they deserve.

Developing A Solicitation Program
The key to a good solicitation program is to be consistent with customer contact and follow-up.

  • Send mailings at regular intervals

    • For example, send mailings 14 days after a return or pay-out occurs.

    • Follow-up these mailings 30 days, 60 days and 90 days after the return or pay-out.

  • Combine the mailings with telephone solicitation calls at alternate intervals

    • As an example, the initial call is made 7 days after the agreement termination followed by calls at 21 days, 45 days, etc.

In order to document mailings and telephone contacts, you will need to create an organized system to track activities. Whether you use a system of index cards, a legal pad or utilize a computer spreadsheet or database program, be sure to create a system that makes follow-up easy and consistent.

Sources for Solicitation
Now that we have a plan, the focus shifts to finding customers to solicit. As discussed earlier, we have several resources at our disposal in the form of a rental order. The following are a few examples.

Previous Customers
Defined as those who have either returned product or have paid-out an agreement. This is a resource that is easy to approach since they have used our services in the past.

Customer References
The references listed on the rental order by a customer are also an excellent source for solicitation. The references are also easy to approach because we have something in common with the reference...we both know the customer who listed them.

An additional source for solicitation would be in-store / telephone inquiries that do not result in a rental. This is, perhaps, the most overlooked source for solicitation. Simply ask for the names, address and telephone number of all in-store / telephone inquiries. Tell them that you send “special offers” by mail from time to time and you would like to include them in future mailings. After you have secured this information, add them to your solicitation system.

In closing, I hope that I have generated some interest in the creation and execution of a total marketing plan that will help you “find the business”. It has always been my belief that, in the rental purchase marketplace, it is our responsibility to “find the business” and a store-level solicitation program is a great place to start. Remember, your total marketing plan should be a two-step process that includes both traditional media advertising and a store-level solicitation program. As always, I welcome your questions and comments. I hope to hear from you soon.