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Increase Your Revenue by Offering More Ways to Rent Storage Units

January 21, 2019

4 min

Are you looking for a way to boost your revenue? Do it by offering a new product or service or by updating your platform. Reach out to customers online effectively by giving them the things they want.

Consider the resources you have and the trends you can get ahead of. Moreover, think about offering portable storage if you haven’t already.

We’ll discuss our unique portable storage integration in a moment. Let’s start with other options, though. These are simple, low-cost (even cost-free) ways to extend your product line and increase your revenue.

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Move to Value-based Pricing

A pragmatic, fundamental feature of value-based pricing is developing buckets, or price tiers, to place your storage units within.

Typical tiers to categorize your rentals would be; "Standard" and "Best Value" and "Premium." These tiers should read to your customers as; good, better, and best.

Value-based pricing is rooted in the concept of understanding your customers. A partial reason for value-based and Self Storage going hand in hand is because of the fixation that the self-storage industry has on providing excellent customer service to tenants.

Improve Your Internet Game

There’s nothing wrong with an old-fashioned, offline business model. However, if you think your business deserves more clients, you might consider upgrading.

If you’re online but you haven’t changed any of your web profiles or created new accounts in years, you might consider doing so.

This doesn’t offer a new way to rent, per se. It gives your customers the information they’re looking for when they try to find you.

Update Your Social Media and Local Marketing Accounts

Today’s consumers use the internet to find and research products and services. According to a survey conducted by Bright Local, 97% of consumers aged between 18 and 34 read online reviews to judge a local business.

Some consumers search for a business online every day. In a Forbes article, Angela Woo says millennials trust peer-generated endorsements. Therefore, ask for reviews!

One of the simplest and most common ways to check a business’s reputability is by looking through its reviews on Google. In order to start gathering these reviews, you need a Google My Business Profile. If you have one, make sure you update your hours, amenities and services as needed.

You should also create a Facebook page if you don’t have one. When someone clicks “like” on your Facebook page, that action becomes visible to their friends on Facebook, which acts as an endorsement of your business and generates brand awareness. It’s fairly simple to create a basic page.

Update your page and share news and photos regularly.

Improve Your Website

If you don’t offer simple, paperless online booking and payments, you should consider them. This is the up-to-date way to rent storage.

Lucky for you, there is a web platform designed specifically for storage companies like yours. StoragePug will create an optimized website for you, which includes a simple online booking and payment system. With these valuable tools, your new customers can easily complete the move-in process online.

They’ll be done before they know it.  

StoragePug can help you share your customers’ best reactions by publishing key testimonials on your website, in places that help prospective customers make the right choice (you, of course).

We can also help you with Search Engine Optimization and Advertising if you need it. The aim is to connect you with more customers online, where they’re looking, before your competitors can.

Facility Upgrades

What kind of facilities do you offer? What about the services you provide at your facility? Traditional variations in facilities range from climate-controlled units to uncovered outdoor spaces.

Today’s trends are leading storage companies to diversify even more. Some of these trendy options are relatively inexpensive.

  • Valet Service
  • Drive-In Loading Bays
  • Business Storage with Conference Center
  • Free Moving Truck (self-service or employee-operated)
  • Wine Storage / Cellars

Analyze your local market. You might find that there is unsatisfied demand for some of these products.

You can even offer something completely new if you know your market wants it. Being different can be a big competitive advantage.

We hope we’ve helped you start thinking outside of the box, so to speak. See what we did there?

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