Since the early days of the Internet, companies have been working to make digital transactions easier. Once e-commerce pioneers convinced the masses that it was safe to use their credit cards to make online purchases, there has been no looking back.
Today, online marketplaces flood the Web and are among the most popular online destinations, from eBay to Airbnb. For the construction equipment rental industry, technology adoption and the transition to an online marketplace are quickly changing how contractors find, source and rent equipment.
Successful online marketplaces share qualities, including competitive selection and pricing. These characteristics are currently being established for the equipment rental industry, and as a result, the online marketplace is becoming an important resource for contractors and equipment suppliers looking to be more competitive and efficient.
Size and Selection
The reason eBay has become such a popular online shopping destination for consumers is because they can find anything they’re looking for. When it comes to rental equipment, the traditional way to find a backhoe or boom lift is to call multiple rental yards to check availability and then negotiate the price.
An online marketplace eliminates these tedious processes by pulling equipment from multiple providers into a single, searchable solution. The bigger the marketplace, meaning the more supplier choices and broader variety of equipment, the easier it is for contractors to find the right equipment at the right price.
BigRentz, for example, is the largest online equipment rental marketplace, offering more than 7,800 rental locations nationwide.
Price Comparison Shopping
Pricing for equipment rentals can be a moving target. Contractors searching for equipment can find a variety of prices for the same piece of equipment from multiple rental yards only miles apart. An online marketplace can be a contractor’s best friend for standardized prices. Rather than haggling among suppliers, the technology behind the marketplace delivers a consistent, better user experience.
Technology continues to influence the equipment rental industry by automating traditionally cumbersome processes. This trending technology is bringing both sides of the rental transaction together at the same time and place for a more efficient, streamlined, and user-friendly experience. Engaging a marketplace, such as BigRentz, that combines broad equipment selection with competitive pricing can have a significant impact on contractors’ ability to fulfill all of their rental needs.
By Jim Arabia, vice president of marketing for BigRentz.
