We love contrarian thinking–and action.
Marketing just seems to be one of those disciplines where if something works for one of us, everybody runs to do it (newsletters or social media any one??). That’s leaves a gaping, tantalizing, tempting opportunity for companies with the courage to do the opposite. I like to think of it this way–if everyone walks out the door and turns left, what would happen if you turned right?
Renting “things” delivers the perfect example of what contrarian action can do for your business. We are almost all conditioned to sell our stuff. But new business sits right in front of you if you add rentals–if you turn right.
Here’s what I’m talking about–we’ve worked with several photographers and artists who wanted to sell more of their art. Our suggestion–rent it. Go to doctors and lawyers offices, restaurants, and corporate buildings. Offer them a program to put original art work in their offices and rotate the art on a regular basis. Rent the thing you exclusively sold. Charge a monthly fee, and sign them up for a six or twelve month program, changing the art quarterly.
The results–our clients not only increased their revenues through the rental programs, they sold more of their work, too. Their income more than tripled in some cases. Why? Because there was no one else “renting” art work. They turned right when everyone else turned left.
Think this can’t work for you? Think again. I read an article in the newspaper the other week that convinced me that renting works for lots of things. If these people could rent their “product,” then most of us could rent ours. This was such a unlikely thing to rent, I don’t think I ever would have thought of it in a million years. Want to take a wild guess? Wilder. Here’s the answer.
Dogs.
Yep. Folks who don’t have dogs because they just don’t have the lifestyle to treat them with everyday love or aren’t allowed to have them in their apartments or condos can rent a pooch for the day or weekend. Kind and loving weekend care has actually led to an increase in adoptions. Fall in love with big brown eyes and how can you take them back?
Pretty crazy, eh? If they can rent their “product,” what are the odds that you can add rental strategies to your business model? Pretty high, I’d guess.
So I’m giving you an assignment this week–how can you add a rental strategy to your business? Send us your ideas…we’d love to share them.
Go forth and do great things,
Martha Hanlon and Chris Williams