Dumpster Rental Industry,
Every dumpster rental company does essentially the same thing. They rent out dumpsters of various sizes to clients for a specified length of time and coordinate the drop-off and pickup of the dumpsters.
This similarity can make it difficult to get your business to stand out and attract new customers, but that’s where marketing comes in. If you take the time to learn the ins and outs of the industry, then you can learn how to diversify and market your business to stand out from competitors, including big corporations.
Recent Trends in the Dumpster Rental Industry
Between 2014 and 2019, the dumpster rental industry saw moderate growth, with many local rental companies popping up all over the country. The client base of dumpster rental companies mostly consists of construction companies, both residential and commercial.
However, there is also a significant demand for dumpster rentals in the industrial sector, as well as for things like home improvement projects.
In total, over 300 dumpster rental companies are operating in the US, but don’t let this discourage you. The actual number of businesses you are competing with is far smaller.
Dumpster rental companies tend to be localized, and only operate within a certain radius of their business headquarters. So instead of competing with every rental business in the country, you are only competing with the ones nearby, plus a few big players that have a nationwide reach.
In general, the performance of the industry is linked to the overall performance of the economy. In times of economic boom, the increase in construction projects and consumer spending will drive up demand for dumpster rentals. Despite occasional dips, the industry is still projected to grow steadily in the coming years.
How the Pandemic Affected the Dumpster Rental Industry?
Since the rental industry is closely linked to the overall national economy, it’s not surprising that the industry saw a dip during the coronavirus pandemic. As everything came to a halt, so did countless construction projects and a significant number of dumpster rental contracts.
However, as things begin to get back to normal, the dumpster rental industry is expected to reach pre-COVID levels in the coming years and continue to grow.
Of course, small businesses were hit the worst by the pandemic since they do not have the same financial cushion that large corporations have. This decline forced a lot of businesses to evaluate how they do business and how they can attract new business.
A new sense of importance was placed on marketing and presentation as businesses tried to attract customers to stay afloat.
How to Compete in the Dumpster Rental Industry
Thankfully, one or two corporations don’t control the entire dumpster rental industry. The largest three industry leaders of dumpster rentals only generate about one-quarter of the entire industry’s revenue. This ratio means that there’s still lots of business for the little guys — you just have to know how to get it.
Research Local Competitors
The best place to start is to do some research on your local competition. By finding out what products and services they offer, what their website looks like, and what their prices are, you can get a better idea of how to make your business stand out.
For example, if dumpster rental companies near you do not offer delivery on weekends or 24/7 customer support, you can offer that as a way to stand out.
To attract more clients, cast a wider net with the services and products you offer. By diversifying your dumpster rental inventory and services, you can create more streams of revenue for your business.
Diversification can be as simple as stocking more sizes. It can also be more complex, like creating some sort of loyalty program as a way to get clients to return.
Focus on Customer Service
In the dumpster rental industry, the biggest leverage your small business has over big corporations is customer service. Big corporations can sink money into hiring hundreds of customer service reps, but they are not able to provide the individualized and personal customer service that local businesses can.
Simply getting to know your clients and making them feel heard by providing prompt, knowledgeable, and helpful customer service is one of the best ways to ensure clients will return.
Increase Your Online Presence – Dumpster Rental Industry.
In today’s increasingly digital world, a company’s online presence is extremely important. People want to be able to learn everything they need to know about a company from their website, so that they can compare nearby businesses without having to make several calls or schedule face-to-face meetings.
Create a Positive Customer Experience
Instead of focusing solely on attracting new customers, you should also focus on how to get customers to return. If you can create a positive customer experience, then your clients will be more likely to give you their business again in the future and to recommend your company to other people looking for dumpster rentals.
Of course, this includes customer service, but the full customer experience encompasses every step of the rental process, from booking to delivery and pick up.
The Dumpster Rental Industry:
A Resilient Powerhouse Shaping Tomorrow’s Waste Management Landscape