- Why Insights?
- Get in Touch
Monday, July 26, 2021 | 9:20 PM
Referral Incentives for Self Storage Facilities
Referrals are primarily the results of word-of-mouth from happy tenants of your self storage facility.
They test your services and their high level of satisfaction compels them to recommend you to their social circle.
Hubspot refers to referrals as the “perpetual revenue system”, calling them the best sales opportunity that your business may have. Referrals are a great supplement to your marketing strategy, as they are a way to find tenants that marketing may miss.
According to the New York Times, nearly 90 percent of small business and 60 percent of large business leads come through referrals.
People are more likely to value the opinion of someone that they know rather than a stranger’s.
For many services like self storage facilities or home repair, building a clientele via solid referrals can take up a couple of years and a whole lot of commitment.
Yet, these positive reviews are critical to your business. These satisfied customers can become evangelists for your business.
The most common referral sources are reviews found on Google, Yelp, Angie’s List, Yahoo, and Merchant Circle.
Of all the lead generation channels, good word of mouth or an online review is probably the best referral method out there for multiple reasons.
Other than the fact that future clients will more likely trust your services if recommended by their social circle, a good online review is affordable with fewer pricing objections and generally increases the velocity of the sales process.
Moreover, the clients you get through referrals have higher conversion rates.
The closing ratio of the sales is higher by 30% than other lead generating sources.
In addition, they are likely to spend more money on what you offer.
Higher the amount of referrals, bigger the digital footprint of your company, and thereby your self storage facility will gain more relevance.
To boost the chances of referrals, it’s a good idea to incentivize your customers.
No one thinks about self storage facilities until the need comes.
Hence, it’s difficult to market your business outside the moment.
However, there’s a simple hack for this: get people to think about self storage before the need arises.
What this does is create a need and then attaches the name of your self storage business with it.
The next time someone wants a space to store their stuff in, your name is will pop up first in their minds.
Here are some creative referral incentive ideas for your self storage facility.
These will not just allow your current clients to refer new customers to your company, but also help generate good online reviews.
To read more about my favorite StoragePug features, take a look at: