Revenue increase for operators: 6 tips
As a self-storage operator you naturally want to be successful. That’s only possible if you have a good profitable company. That can be quite difficult when you operate in a market with a lot of competition. However, if you pay sufficient attention to the things below, you might profit from it.
1. Make sure your park always looks top-notch
- walk through the company daily and check that everything is still working properly;
- always clean up litter;
- repair any damage to units as soon as possible;
- pay attention to doors and walls; customers prefer not to walk through a verveless environment;
- ensure that customers can dispose of their waste properly, so empty waste bins and containers regularly;
- extract vacant units or pieces of unused outdoor area from view as much as possible.
2. Keep your website up to date
Most potential customers begin their search for storage space over the internet. So make sure that the website works properly on desktop, laptop and smartphone. Recent research shows that 80% of the visitor view it on their phone. The information must be up-to-date and the footage preferably of professional quality.
Are there discount promotions going on? Make them stand out and attach an end date to it to evoke a sense of urgency in the customer.
Make sure customers can check, reserve and pay for units’ availability online. Nowadays, customers are increasingly asking for this, especially during this corona period and that will continue to be the case afterwards.
Ask customers for reviews and put them online. Refresh these customer reviews regularly.
3. Keep following the market
Make sure you know who the competitors are, where they are and what facilities they offer and at what prices. Go shopping or have an employee do that at one of the competitors nearby. You will be surprised how much knowledge this can bring. You can also just get acquainted. Perhaps you can refer customers, for whatever reason, to them. That will be greatly appreciated and it could happen the other way around.
4. Reserve time for marketing activities
- Thank your customers with some regularity for the trust they have in the company. This can be done by e-mail or telephone but also with a personal letter or card.
- Think of opportunities to sponsor local initiatives or activities and give publicity to them. Associations, sports clubs, schools, charities, etc.
- Make videos about the company and place them on the website and/or a YouTube channel. Video scores high in Google in terms of search results.
5. Pay attention to additional products
Of course, the rental of self storage units is the main part of your activities and turnover. But you can also make money with other products. Think of the rental of trailers, moving boxes, packing equipment, offering extra lighting and heating, insurance, moving assistance, etc.
6. Regularly increase prices
Don’t be afraid to adjust your prices if the market asks for them. Most tenants really don’t quit if you raise the rent slightly annually. Just get some room for negotiation. If tenants do object to a price increase, you can still offer something lower, without compromising your entire profit margin. This is certainly important for very loyal customers. After all, you certainly do not want to lose it. Finally: It is important that you realize on a daily basis that you are the face of your company. Everything you do or fail to do can therefore affect the course of events and therefore the operating result. More tips? Contact our marketing team.
Source: Inside Self Storage