August 2022 Feature Release New COOP Smart Rate Tool
Knowing what rate to charge for renting out your truck is essential as the market goes through cycles and changes. That’s why COOP is proud to introduce a groundbreaking new pricing tool to help you maximize your earnings. Say hello to COOP Smart Rate.
You can use Smart Rate to save time and optimize your vehicle rentals. This tool was created by a team of industry experts to easily allow Owners to set the best rate automatically.
How is the Best Rate Determined?
COOP Smart Rate dynamically adjusts the rate of your vehicles based on a variety of characteristics like vehicle type, mileage, and market demand. Using this information, the rates of your listings are automatically adjusted to stay competitive and get more reservations.
The Advantages of COOP Smart Rate
Setting a rate can be time-consuming, stressful, and challenging. Not only is every market different, but each vehicle is unique and finding the best rate to increase a reservation requires a lot of attention. COOP Smart Rate eliminates the guesswork.
You can have peace of mind with the power to set your prices based on the most up-to-date data available.
Here are a few more reasons why the COOP Smart Rate tool was developed to benefit Owners listing on the platform:
- Vehicles listed at or below the recommended rates are 60% more likely to transact than vehicles listed above the recommended rate.
- We listened to current Owners' feedback and found that many wanted a simple, convenient, and effective way to set a competitive rate.
- You can maximize your earnings and enhance your vehicle listings by having your rates adjusted automatically according to demand.
- It provides a breakdown of your daily rate and earnings and displays an alert if the rate is set too high or too low for Owners who select their custom price.
Apply Smart Rate & Enhance Your Potential
At COOP, we work to understand your needs and continually improve your experience by implementing innovative tools to help improve your bottom line.
By enabling COOP Smart Rate, you’ll have a competitive edge with industry-leading data to stay a step ahead of the market and get more reservations to maximize your earnings.
Sign in to your account today to apply Smart Rate on your fleet.