Lead Qualification and Engagement for Rental Businesses

The more customers that find your fence business, the better. Lead management is the art of knowing who your customers are, identifying prospects, acquiring customers, and nurturing those leads. This process can be a struggle for many business owners who are new to the fence industry.

The more you practice lead management, the easier it gets. This article will discuss in depth what lead management entails and how to use lead management best practices to make your fence rental business successful.

Lead Management 101

Lead management is the process of identifying leads and guiding them through the sales funnel. You can tell a person or business is a lead if they call your business to inquire about services, visit your website and fill out a form, or respond to your marketing emails.

Statistics tell us that over 90% of people who visit websites aren't ready to buy yet, which means that it takes a strong lead management system to keep your company top of mind through their buying decision.

What Is a Prospect?

The words lead and prospect are often used interchangeably, but they're not the same. Leads are the people or businesses at the top of your sales funnel. They're potential customers who have expressed some interest in your business and who can benefit from more information.

A prospect is a qualified lead. When we talk about "qualified" leads, we mean leads that have been evaluated and are believed to fit your customer profile. Qualified leads have a high potential to turn into real customers.

Basic Lead Management Steps

Without a proper lead management system, your business may miss out on opportunities to provide your services to customers. The process of lead management is different for every business and is different in every industry.

Your rental business will develop its own process of finding rental prospects. Below are some of the basic steps your business may follow as a part of its lead management system.

Know Your Customer Profile

A customer profile is a description of your ideal customers. Each customer type should have their own profile. You can use this profile to determine what your customers want and how you can meet their needs.

Most fence rental companies have at least two customer profiles and may have more. Below are some examples of customer profiles you may create for your customers.

Construction Company

Construction companies need temporary fencing to protect jobsites and comply with regulations that protect passersby as well as workers. Buyers for construction companies include project managers, safety managers, and supervisors. Here's what to know about these customers:

• Focused on jobsite security and the safety of workers as well as passersby.
• Need long-term rentals of six months or more.
• Will pay for fences from trusted providers to help them avoid operational delays.

Event Companies

Event companies need temporary fencing to keep special events contained and to direct foot traffic. Buyers for special event companies include event producers and event management teams. Here's what to know about these customers:

• Focused on ensuring area security and attendee safety.
• Need short-term rentals of several days or weeks.
• Need fence rental companies that provide efficient, reliable set-up and removal service.

Take Steps to Acquire New Customers

After determining who your customers are, you can then take steps to find customers, wherever they are. There are many customer acquisition strategies.

What works well in your region or for your customers may not work well for another business. You'll have to discover your customer acquisition process through trial and error.

Below are some examples of the best ways to find customers.

• Attend industry events. Look up trade shows, fairs, and other events where your customers are likely to have a presence or a table. This may include conferences and other events. Set up your own table. Bring business cards, price lists, and swag to entice customers. Put out a sign-up sheet for your company newsletter, or place a QR code on your table to direct customers to a form they can fill out for more information. You may even give attendees an exclusive discount code which they can use to arrange their first rental.
• Market online. Online marketing and social media can get your name out to potential customers. Start social media pages of all types to capture as many customers as possible. Use pay-per-click advertising to find customers in your area who are likely to be interested in your service.
• Encourage referrals. Word-of-mouth is powerful for generating new customers, and can reliably bring customers to many businesses. Offer a discount for customer referrals.

Qualify Your Leads

Leads must be vetted in order to be considered qualified. Create a list of criteria that leads must meet in order to become qualified. The list may include having a budget within a certain range, anticipating a realistic project timeline, and requiring delivery in a certain sales area. Train your sales team to follow pre-determined steps to qualify your leads, or create a script that can help your sales team qualify your leads.

The script may include a question about the lead's industry (special events or construction?), and a further list of questions about the lead's budget, project scope, fencing type required, project start date, and accessories needed.

You can also qualify leads by using progressive forms to sort leads into various categories and point leads to the right salesperson for their needs.

Use Customer Management Tools

CRM stands for 'customer relationship management system'. A CRM system is a software program that helps you track and follow up with customers. CRM programs are important tools for managing leads efficiently and effectively. You can use a CRM system to track customer interactions and compile important information about customers. CRM systems also allow sales professionals to follow up on leads efficiently.

CRM programs make a big difference when it comes to managing and qualifying leads, so it's important to choose the right CRM system for your business. Sample or demo different systems before landing on the right CRM.

Nurture Your Leads

Once you've identified and qualified a lead, it's important to train your sales team to nurture those leads until they make it to the bottom of the sales funnel. Nurturing leads involves making calls and sending emails to keep your company top of mind until your leads are ready to rent a fence.

Lead nurturing is a process. Create a flow chart for your sales team to help them nurture leads in a way that is systematic, organized, and effective.

Work with Industry Partners

Find industry partners to help with your new business. SONCO is an example of an industry partner that can help your new fence rental business, through our quality temporary fences, and through services like our lead-sharing program to help your business grow.

Another example of an industry partner may be construction associations in your area, where you can learn more about construction industry professionals that need fencing services. These associations sometimes have meet and greet events where you can make contacts and generate leads.

Managing leads is a process, and many businesses must perfect that process with time. As you establish processes for lead management, your business will bring in more business and customers to help your fence rental company thrive.

To help you on your journey of expanding your business, we’ve created a list of actionable tips you can start implementing today. Check them out and learn how to make your company more profitable and successful.