Great to hear you’re thinking strategically about your excavator rental business. Offering discounts or promotions can indeed be a double-edged sword. On one hand, they can attract new customers and incentivize repeat business. On the other hand, frequent discounts might lead some clients to undervalue your services.
So, it’s all about balance. Consider offering discounts strategically, such as during off-peak seasons or for long-term rentals. This could maximize utilization of your equipment while maintaining profitability.
Promotions are another good option. For instance, a referral program that rewards existing customers for bringing in new ones could help you expand your customer base without devaluing your services.
Remember, every business is unique, so it’s crucial to monitor the impact of any changes and adjust your strategy accordingly. I hope this advice helps you make an informed decision, Alex!