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Rent-A-Center Enhances Customer Experience and Rental Agreement Processes With SundaySky Video Platform
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
Rent-A-Center (NASDAQ: RCII) is launching an initiative to enhance customer experience by transforming its multi-page rental agreements into ultra-personalized 2.5-minute videos using SundaySky's SaaS platform. This strategy aims to improve the Net Promoter Score (NPS) for online customers, capitalizing on the rising importance of video in customer engagement. The campaign follows a successful 2-week pilot and highlights a growing trend in enterprise video production, as companies shift towards personalized and scalable video solutions to meet customer needs.
Positive
Increased customer engagement through personalized 2.5-minute videos.
Successful launch after a 2-week proof of concept, indicating potential market adaptability.
Early signs of improvement in online customer NPS.
Negative
Dependence on traditional video production methods persists among 60% of organizations, indicating potential operational inefficiencies.
In three months, Rent-A-Centeraims to increase its Net Promoter Score (NPS) and overall retention by transitioning multiple pages of agreement termsinto 2.5-minute, ultra-personalized videos for each customer
NEW YORK & PLANO, Texas--(BUSINESS WIRE)--
Rent-A-Center, the nation's largest rent-to-own operator, is using SundaySky, the leading software-as-a-service (SaaS) video platform, to markedly improve the customer rental experience and agreement process through personalized video, while aiming to boost its Web NPS to be in line with Store NPS.
Rent-A-Center came to SundaySky with the task of augmenting the brand’s multi-page rental agreement documents into easy-to-digest, ultra-personalized customer videos that could be distributed across multiple touchpoints and multiple customer scenarios at scale. Using SundaySky’s SaaS platform, Rent-A-Center was able to create, personalize, update and distribute videos in less than a three-month time frame, including a national launch after a successful 2-week proof of concept pilot.
“We’re very aware of the fact that video has exploded, customer attention spans are dwindling and their experience with the brand is everything,” said Sarah Philips, VP of Marketing at Rent-A-Center. “Since the pandemic, we’ve significantly grown our online presence and needed a digital component to engage, inform and improve the customer experience. With SundaySky, we executed on that need in rapid time and without the need of traditional video production methods. In turn, our NPS is showing early signs of improvement for online customers. Another important KPI is first payment non-renewal, which should improve now that we’ve found a medium and platform to better explain the transaction. What’s more, we’re coming up with even more ways to use video in the customer journey.”
The urgent demand to create and personalize videos at scale in a short time frame is a growing need for major enterprise and mid-size businesses alike, according to new research from SundaySky. In “The Pulse On Professional Video,” a report released today commissioned by SundaySky and performed by CITE Research, a survey of 570 leaders found that:
Video has increased by 82% over time, and 89% of companies who use video today plan to continue or increase their current use of video in the future.
For those already doing video, one-third of a group’s total budget is reserved for video.
Businesses are expected to produce videos at a rapid rate, with two-thirds (67%) claiming they update videos on a daily or weekly basis.
Despite the growing needs and emphasis on video creation velocity, three out of five organizations rely on traditional methods for video production.
“Rent-A-Center is a glowing example of how quickly and efficiently major brands and enterprises can create, personalize and distribute video at scale today when technology is at the helm,” said Mark Tack, CMO at SundaySky. “Our research shows that three out of five organizations rely on traditional methods for video production, but Rent-A-Center’s video campaign illustrates the multifaceted benefits brands can expect when they create a customer-centric, data-driven and technology-enabled video strategy.”
While SundaySky’s latest research found that more than half of businesses (55%) do not personalize video, Rent-A-Center was able to take 4 pages of each customer’s rental agreement and create a 1-to-1 customer video that explained agreement features, payment details, local support contacts, payment options and more in approximately 2 minutes worth of video.
“We work in a relationship-driven business where our coworkers and managers are interacting with existing customers sometimes every week, at minimum monthly, for a long period of time,” said Steve Savary, Executive Director of Operations Strategy at Rent-A-Center. “It was imperative that our video captured this personalized approach so that when customers transitioned from in-store to online, their individualized experience remained the same. SundaySky’s platform made it simple for us to incorporate our customer insight into every video and every scenario without a heavy lift on our end.”
To learn more about Rent-A-Center’s video strategy, visit SundaySky.com/RAC.
About Rent-A-Center
Rent-A-Center, Inc. (NASDAQ: RCII) is a leading provider of technology driven, flexible, no debt obligation leasing solutions that offer underserved consumers access to and potential ownership of high-quality durable goods that enhance the quality of life. The company’s omni-channel model utilizes proprietary data and technology to facilitate transactions across a wide range of retail channels including its own Acima virtual lease-to-own platform, Rentacenter.com, e-commerce partner platforms, partner retail stores, and Rent-A-Center branded stores. For additional information about the Company, please visit our website Rentacenter.com or Investor.rentacenter.com.
About SundaySky
SundaySky is leading the video revolution for organizations, enabling users to efficiently create, distribute, personalize and optimize video at scale. Customers such as 1-800 Contacts, Bank of America, Okta, Rent-A-Center, Select Blinds, Staples, UnitedHealthcare, Verizon and many others have adopted SundaySky to help their organizations drive business outcomes. SundaySky’s Video Platform unleashes the true power of video by making it simple for users and scalable for organizations, resulting in improved return on investment through next level content effectiveness and efficiency. Headquartered in New York City, SundaySky has additional offices in Tel Aviv and Tokyo. For more information, visit www.sundaysky.com.
